Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Position in Regency Centers Corporation (NASDAQ:REG)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Regency Centers Corporation (NASDAQ:REG) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,035 shares of the company’s stock after buying an additional 1,630 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Regency Centers were worth $4,281,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in REG. Norges Bank purchased a new position in shares of Regency Centers during the 4th quarter worth approximately $1,262,425,000. JPMorgan Chase & Co. increased its stake in shares of Regency Centers by 0.5% during the 4th quarter. JPMorgan Chase & Co. now owns 11,141,771 shares of the company’s stock worth $823,711,000 after purchasing an additional 51,424 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Regency Centers by 1.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,440,384 shares of the company’s stock worth $771,859,000 after purchasing an additional 171,047 shares in the last quarter. Invesco Ltd. increased its stake 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 worth $397,333,000 after purchasing an additional 2,944,854 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Regency Centers by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 4,568,525 shares of the company’s stock worth $336,955,000 after purchasing an additional 86,644 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Regency Centers Stock Down 0.0%

Shares of REG opened at $70.80 on Friday. The firm has a market cap of $12.85 billion, a PE ratio of 33.39, a price-to-earnings-growth ratio of 3.45 and a beta of 1.00. The company’s fifty day moving average is $71.72 and its two-hundred day moving average is $72.14. Regency Centers Corporation has a fifty-two week low of $61.34 and a fifty-two week high of $78.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.70.

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

Regency Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th were issued a dividend of $0.705 per share. The ex-dividend date was Wednesday, June 11th. This represents a $2.82 annualized dividend and a dividend yield of 3.98%. Regency Centers’s payout ratio is 133.02%.

Analysts Set New Price Targets

REG has been the subject of a number of recent research reports. Barclays initiated coverage on shares of Regency Centers in a research note on Wednesday. They set an “equal weight” rating and a $77.00 price objective for the company. Wall Street Zen raised shares of Regency Centers from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Truist Financial raised their price objective 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 decreased their target price 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 decreased their target price on shares of Regency Centers from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $78.00.

Insider Buying and Selling at Regency Centers

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 transaction of $301,205.52. Following the transaction, the insider owned 33,069 shares in the company, valued at approximately $2,395,518.36. The trade was a 11.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

Regency Centers 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.