Regency Centers Corporation $REG Shares Purchased by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC boosted its stake in Regency Centers Corporation (NASDAQ:REG) by 22.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 275,000 shares of the company’s stock after purchasing an additional 50,000 shares during the period. Pacific Heights Asset Management LLC owned about 0.15% of Regency Centers worth $18,983,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in REG. Wolverine Asset Management LLC acquired a new position in shares of Regency Centers in the third quarter worth $1,083,000. Centersquare Investment Management LLC raised its holdings in shares of Regency Centers by 5.7% in the third quarter. Centersquare Investment Management LLC now owns 351,963 shares of the company’s stock worth $25,658,000 after acquiring an additional 18,997 shares during the last quarter. Pensionfund Sabic acquired a new position in shares of Regency Centers in the fourth quarter worth $1,339,000. Azzad Asset Management Inc. ADV raised its holdings in shares of Regency Centers by 68.6% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 53,562 shares of the company’s stock worth $3,697,000 after acquiring an additional 21,799 shares during the last quarter. Finally, Rakuten Investment Management Inc. acquired a new position in Regency Centers in the third quarter valued at $1,031,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Regency Centers Stock Performance

Shares of NASDAQ:REG opened at $76.06 on Monday. The firm has a market capitalization of $13.93 billion, a PE ratio of 26.23, a P/E/G ratio of 3.23 and a beta of 0.82. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. The business has a 50-day moving average of $77.69 and a two-hundred day moving average of $73.65. Regency Centers Corporation has a 12 month low of $66.86 and a 12 month high of $81.66.

Regency Centers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be paid a dividend of $0.755 per share. The ex-dividend date is Friday, June 12th. This represents a $3.02 annualized dividend and a yield of 4.0%. Regency Centers’s dividend payout ratio is currently 104.14%.

Insider Activity

In other Regency Centers news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $79.06, for a total transaction of $626,708.62. Following the completion of the sale, the insider directly owned 33,069 shares in the company, valued at $2,614,435.14. This represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 274,615 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $78.40, for a total value of $21,529,816.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 460,032 shares of company stock valued at $35,996,456 over the last 90 days. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

REG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft upgraded Regency Centers from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Tuesday, January 20th. Robert W. Baird set a $84.00 target price on Regency Centers in a research note on Tuesday, February 10th. Wells Fargo & Company upped their target price on Regency Centers from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Truist Financial upped their target price on Regency Centers from $77.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Scotiabank upped their target price on Regency Centers from $76.00 to $82.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $81.36.

Regency Centers 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.