Integrated Advisors Network LLC Buys Shares of 8,043 Regency Centers Co. (NASDAQ:REG)

Integrated Advisors Network LLC purchased a new position in Regency Centers Co. (NASDAQ:REG) during the first quarter, HoldingsChannel.com reports. The fund purchased 8,043 shares of the company’s stock, valued at approximately $593,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in Regency Centers during the 4th quarter worth approximately $1,262,425,000. Invesco Ltd. grew its position in shares of Regency Centers by 121.2% during the 4th quarter. Invesco Ltd. now owns 5,374,450 shares of the company’s stock valued at $397,333,000 after purchasing an additional 2,944,854 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Regency Centers by 64.1% in the fourth quarter. Northern Trust Corp now owns 2,781,614 shares of the company’s stock worth $205,645,000 after purchasing an additional 1,086,797 shares during the period. Prudential Financial Inc. increased its holdings in shares of Regency Centers by 51.7% in the fourth quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company’s stock worth $159,363,000 after purchasing an additional 734,210 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Regency Centers by 137.2% in the fourth quarter. California Public Employees Retirement System now owns 776,521 shares of the company’s stock worth $57,408,000 after buying an additional 449,110 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of Regency Centers stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $72.44, for a total value of $301,205.52. Following the transaction, the insider now directly owns 33,069 shares of the company’s stock, valued at $2,395,518.36. The trade was a 11.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.00% of the company’s stock.

Regency Centers Stock Down 1.1%

Shares of NASDAQ REG opened at $70.25 on Friday. Regency Centers Co. has a one year low of $60.64 and a one year high of $78.18. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95. The firm’s 50 day simple moving average is $71.55 and its two-hundred day simple moving average is $72.53. The stock has a market capitalization of $12.75 billion, a P/E ratio of 33.14, a PEG ratio of 3.75 and a beta of 1.01.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings data 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. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. The company had revenue of $370.35 million during the quarter, compared to analysts’ expectations of $364.64 million. During the same quarter in the prior year, the company earned $1.08 EPS. As a group, analysts expect that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be given a dividend of $0.705 per share. The ex-dividend date is Wednesday, June 11th. This represents a $2.82 annualized dividend and a yield of 4.01%. Regency Centers’s payout ratio 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.