Thrivent Financial for Lutherans Reduces Stock Holdings in Regency Centers Corporation $REG

Thrivent Financial for Lutherans reduced its stake in Regency Centers Corporation (NASDAQ:REG) by 51.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,709 shares of the company’s stock after selling 42,442 shares during the period. Thrivent Financial for Lutherans’ holdings in Regency Centers were worth $2,810,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Azzad Asset Management Inc. ADV boosted 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 valued at $3,697,000 after acquiring an additional 21,799 shares during the period. Pensionfund Sabic acquired a new stake in shares of Regency Centers in the fourth quarter valued at approximately $1,339,000. Centersquare Investment Management LLC boosted 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 valued at $25,658,000 after acquiring an additional 18,997 shares during the period. Rakuten Investment Management Inc. acquired a new stake in shares of Regency Centers in the third quarter valued at approximately $1,031,000. Finally, Korea Investment CORP boosted its holdings in shares of Regency Centers by 61.9% in the third quarter. Korea Investment CORP now owns 119,613 shares of the company’s stock valued at $8,720,000 after acquiring an additional 45,734 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Insider Activity

In other news, Chairman Martin E. Stein, Jr. sold 274,615 shares of Regency Centers stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $78.40, for a total value of $21,529,816.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of Regency Centers stock in a transaction dated Tuesday, May 5th. The shares were 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 approximately $2,614,435.14. The trade was a 19.34% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 450,032 shares of company stock worth $35,233,456. Insiders own 1.00% of the company’s stock.

Regency Centers Price Performance

Shares of NASDAQ:REG opened at $78.84 on Monday. The company has a market cap of $14.44 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 3.35 and a beta of 0.82. The firm’s 50-day simple moving average is $77.64 and its 200-day simple moving average is $73.94. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. Regency Centers Corporation has a fifty-two week low of $66.86 and a fifty-two week high of $81.66.

Regency Centers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be issued a $0.755 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.02 annualized dividend and a dividend yield of 3.8%. Regency Centers’s payout ratio is presently 104.14%.

Wall Street Analyst Weigh In

REG has been the subject of several research analyst reports. Morgan Stanley increased their price objective on Regency Centers from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Robert W. Baird set a $84.00 price objective on Regency Centers in a report on Tuesday, February 10th. Weiss Ratings raised Regency Centers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. Wells Fargo & Company increased their price objective on Regency Centers from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Finally, Citigroup increased their price objective on Regency Centers from $76.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $81.71.

Regency Centers Company 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.