OP Asset Management Ltd Makes New Investment in Regency Centers Corporation $REG

OP Asset Management Ltd purchased a new stake in shares of Regency Centers Corporation (NASDAQ:REG) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 43,302 shares of the company’s stock, valued at approximately $3,276,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pensionfund Sabic purchased a new position in shares of Regency Centers during the 4th quarter worth $1,339,000. Azzad Asset Management Inc. ADV raised its holdings in Regency Centers by 68.6% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 53,562 shares of the company’s stock worth $3,697,000 after purchasing an additional 21,799 shares during the period. M&T Bank Corp raised its holdings in Regency Centers by 168.6% in the 4th quarter. M&T Bank Corp now owns 25,931 shares of the company’s stock worth $1,791,000 after purchasing an additional 16,277 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Regency Centers by 3.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 311,562 shares of the company’s stock valued at $21,507,000 after purchasing an additional 10,745 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Regency Centers by 2.8% during the fourth quarter. Legal & General Group Plc now owns 1,705,024 shares of the company’s stock valued at $117,698,000 after purchasing an additional 46,438 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insider Buying and Selling

In other Regency Centers news, insider Terah L. Devereaux sold 1,240 shares of Regency Centers stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $80.14, for a total value of $99,373.60. Following the sale, the insider owned 17,990 shares of the company’s stock, valued at $1,441,718.60. The trade was a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $79.06, for a total value of $626,708.62. Following the sale, the insider directly owned 33,069 shares in the company, valued at $2,614,435.14. This trade represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 283,782 shares of company stock worth $22,255,898. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on REG. Morgan Stanley lifted their price objective on Regency Centers from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Evercore set a $80.00 target price on shares of Regency Centers in a report on Friday, May 1st. Wells Fargo & Company lifted their price target on shares of Regency Centers from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Citigroup upped their price target on shares of Regency Centers from $76.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Finally, Truist Financial increased their price objective on shares of Regency Centers from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, Regency Centers presently has an average rating of “Moderate Buy” and an average target price of $82.27.

Regency Centers Price Performance

REG stock opened at $81.81 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14. The company’s fifty day moving average price is $78.56 and its 200-day moving average price is $75.38. Regency Centers Corporation has a one year low of $66.86 and a one year high of $81.93. The company has a market capitalization of $14.98 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 3.47 and a beta of 0.81.

Regency Centers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be given a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, June 12th. Regency Centers’s payout ratio is currently 104.14%.

Regency Centers Company Profile

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company’s portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.