Bank of New York Mellon Corp Reduces Stake in Regency Centers Corporation $REG

Bank of New York Mellon Corp cut its stake in Regency Centers Corporation (NASDAQ:REG) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,322,866 shares of the company’s stock after selling 10,955 shares during the quarter. Bank of New York Mellon Corp’s holdings in Regency Centers were worth $100,088,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Inspire Investing LLC raised its stake in Regency Centers by 0.6% during the first quarter. Inspire Investing LLC now owns 22,480 shares of the company’s stock worth $1,701,000 after purchasing an additional 141 shares during the period. Norinchukin Bank The raised its position in shares of Regency Centers by 0.8% during the 3rd quarter. Norinchukin Bank The now owns 17,730 shares of the company’s stock valued at $1,293,000 after buying an additional 147 shares during the period. Telos Capital Management Inc. lifted its holdings in Regency Centers by 2.9% in the fourth quarter. Telos Capital Management Inc. now owns 5,378 shares of the company’s stock valued at $371,000 after acquiring an additional 153 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in Regency Centers by 63.1% in the third quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company’s stock valued at $30,000 after acquiring an additional 157 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Regency Centers by 12.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,437 shares of the company’s stock worth $102,000 after acquiring an additional 162 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Regency Centers Stock Down 0.7%

Shares of REG opened at $82.14 on Tuesday. The stock has a market capitalization of $15.04 billion, a PE ratio of 28.32, a P/E/G ratio of 3.50 and a beta of 0.80. Regency Centers Corporation has a 1 year low of $66.86 and a 1 year high of $83.66. 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 50-day simple moving average is $78.94 and its 200-day simple moving average is $76.79.

Regency Centers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were paid a $0.755 dividend. This represents a $3.02 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Friday, June 12th. Regency Centers’s dividend payout ratio (DPR) is presently 104.14%.

Insider Activity

In other news, insider Terah L. Devereaux sold 1,240 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $80.14, for a total transaction of $99,373.60. Following the completion of the transaction, the insider directly owned 17,990 shares of the company’s stock, valued at approximately $1,441,718.60. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $79.06, for a total value of $626,708.62. Following the transaction, the insider directly owned 33,069 shares of the company’s stock, valued at approximately $2,614,435.14. This represents a 19.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Evercore set a $81.00 target price on Regency Centers in a research note on Tuesday, July 7th. Jefferies Financial Group raised Regency Centers to a “strong-buy” rating in a research note on Friday, June 26th. UBS Group increased their price target on Regency Centers from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Scotiabank boosted their price objective on shares of Regency Centers from $76.00 to $82.00 and gave the company a “sector perform” rating in a report on Tuesday, March 24th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $88.00 target price on shares of Regency Centers in a research report on Monday, June 29th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, Regency Centers currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.94.

About Regency Centers

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.