Retirement Systems of Alabama Trims Stake in Regency Centers Corporation (NASDAQ:REG)

Retirement Systems of Alabama lowered its holdings in Regency Centers Corporation (NASDAQ:REG) by 0.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,083 shares of the company’s stock after selling 751 shares during the quarter. Retirement Systems of Alabama owned 0.07% of Regency Centers worth $9,521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming increased its stake in Regency Centers by 11.3% during the fourth quarter. State of Wyoming now owns 1,543 shares of the company’s stock worth $114,000 after purchasing an additional 157 shares during the period. Smartleaf Asset Management LLC increased its stake in Regency Centers by 3.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,845 shares of the company’s stock worth $356,000 after purchasing an additional 164 shares during the period. Farther Finance Advisors LLC increased its stake in Regency Centers by 27.9% during the fourth quarter. Farther Finance Advisors LLC now owns 1,003 shares of the company’s stock worth $74,000 after purchasing an additional 219 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in Regency Centers by 7.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,395 shares of the company’s stock worth $251,000 after purchasing an additional 244 shares during the period. Finally, Signaturefd LLC increased its stake in Regency Centers by 17.5% during the fourth quarter. Signaturefd LLC now owns 1,757 shares of the company’s stock worth $130,000 after purchasing an additional 262 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on REG shares. Truist Financial boosted their price target on shares of Regency Centers from $78.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Wells Fargo & Company cut their price target on shares of Regency Centers from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Scotiabank cut their price target on shares of Regency Centers from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Monday, May 12th. Finally, Wall Street Zen downgraded Regency Centers from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Regency Centers has an average rating of “Moderate Buy” and a consensus price target of $78.08.

Insider Activity at Regency Centers

In other news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $72.44, for a total value of $301,205.52. Following the completion of the sale, the insider now directly owns 33,069 shares of the company’s stock, valued at approximately $2,395,518.36. This represents a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Regency Centers Stock Performance

Shares of Regency Centers stock opened at $72.27 on Tuesday. Regency Centers Corporation has a one year low of $60.64 and a one year high of $78.18. The company has a market cap of $13.12 billion, a PE ratio of 34.09, a P/E/G ratio of 3.47 and a beta of 1.01. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.01. The business has a 50-day simple moving average of $71.80 and a 200-day simple moving average of $72.33.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.01. The firm had revenue of $370.35 million during the quarter, compared to the consensus estimate of $364.64 million. Regency Centers had a return on equity of 5.98% and a net margin of 27.21%. During the same period in the prior year, the company posted $1.08 earnings per share. On average, equities research analysts forecast that Regency Centers Corporation will post 4.54 EPS for the current fiscal year.

Regency Centers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be issued a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date of this dividend is Wednesday, June 11th. Regency Centers’s dividend payout ratio (DPR) is 133.02%.

Regency Centers Company Profile

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers.