Pictet Asset Management Ltd. raised its position in Regency Centers Corp (NYSE:REG) by 6.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 106,391 shares of the real estate investment trust’s stock after buying an additional 6,000 shares during the quarter. Pictet Asset Management Ltd. owned about 0.06% of Regency Centers worth $7,101,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in REG. PGGM Investments increased its holdings in Regency Centers by 54.0% in the 2nd quarter. PGGM Investments now owns 4,070,645 shares of the real estate investment trust’s stock valued at $271,675,000 after buying an additional 1,427,645 shares during the period. Principal Financial Group Inc. increased its holdings in Regency Centers by 6.4% in the 1st quarter. Principal Financial Group Inc. now owns 6,178,121 shares of the real estate investment trust’s stock valued at $416,958,000 after buying an additional 372,002 shares during the period. BlackRock Inc. increased its holdings in Regency Centers by 1.7% in the 1st quarter. BlackRock Inc. now owns 16,930,814 shares of the real estate investment trust’s stock valued at $1,142,661,000 after buying an additional 282,603 shares during the period. Northern Trust Corp increased its holdings in Regency Centers by 10.4% in the 2nd quarter. Northern Trust Corp now owns 2,918,311 shares of the real estate investment trust’s stock valued at $194,768,000 after buying an additional 275,397 shares during the period. Finally, Duff & Phelps Investment Management Co. boosted its stake in shares of Regency Centers by 23.4% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,218,089 shares of the real estate investment trust’s stock valued at $81,295,000 after purchasing an additional 230,661 shares in the last quarter. 93.87% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:REG traded up $0.22 during mid-day trading on Monday, hitting $68.28. 9,712 shares of the company’s stock were exchanged, compared to its average volume of 866,572. The company has a 50 day simple moving average of $65.41 and a 200-day simple moving average of $66.47. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. Regency Centers Corp has a fifty-two week low of $55.50 and a fifty-two week high of $70.26. The firm has a market capitalization of $11.49 billion, a P/E ratio of 18.53, a PEG ratio of 2.50 and a beta of 0.37.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Monday, August 12th were given a dividend of $0.585 per share. The ex-dividend date was Friday, August 9th. This represents a $2.34 annualized dividend and a yield of 3.43%. Regency Centers’s dividend payout ratio is presently 63.41%.
In related news, insider Alan Todd Roth sold 3,000 shares of Regency Centers stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $65.74, for a total transaction of $197,220.00. Following the sale, the insider now directly owns 8,001 shares in the company, valued at approximately $525,985.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Dan M. Chandler III sold 3,500 shares of Regency Centers stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $65.15, for a total transaction of $228,025.00. Following the sale, the vice president now owns 15,457 shares in the company, valued at $1,007,023.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,783 shares of company stock worth $639,965. 1.10% of the stock is owned by corporate insiders.
REG has been the topic of a number of research analyst reports. Compass Point initiated coverage on shares of Regency Centers in a research note on Thursday, August 15th. They issued a “neutral” rating and a $67.00 price target on the stock. Scotiabank upgraded shares of Regency Centers from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $68.00 to $72.00 in a research note on Friday, August 16th. Citigroup set a $76.00 price target on shares of Regency Centers and gave the company a “buy” rating in a research note on Monday, May 20th. Finally, BMO Capital Markets set a $64.00 price target on shares of Regency Centers and gave the company a “hold” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $68.83.
Regency Centers Company Profile
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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.
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