Pictet Asset Management Holding SA Reduces Stock Position in Regency Centers Corporation $REG

Pictet Asset Management Holding SA lessened its holdings in Regency Centers Corporation (NASDAQ:REG) by 16.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 70,992 shares of the company’s stock after selling 13,521 shares during the period. Pictet Asset Management Holding SA’s holdings in Regency Centers were worth $5,371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Louisiana State Employees Retirement System purchased a new stake in shares of Regency Centers during the first quarter valued at $636,000. Contravisory Investment Management Inc. bought a new stake in Regency Centers during the 1st quarter valued at about $79,000. OP Asset Management Ltd bought a new stake in Regency Centers during the 1st quarter valued at about $3,276,000. Banque Cantonale Vaudoise purchased a new stake in Regency Centers in the 1st quarter valued at about $67,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its position in Regency Centers by 39.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,090 shares of the company’s stock valued at $1,066,000 after buying an additional 4,003 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insider Buying and Selling

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 274,615 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $78.40, for a total transaction of $21,529,816.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $79.06, for a total value of $626,708.62. Following the sale, the insider directly owned 33,069 shares in the company, valued at $2,614,435.14. This trade represents a 19.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 283,782 shares of company stock valued at $22,255,898 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Regency Centers Stock Performance

NASDAQ:REG opened at $80.96 on Friday. The firm has a 50-day simple moving average of $78.59 and a 200-day simple moving average of $75.83. Regency Centers Corporation has a one year low of $66.86 and a one year high of $81.93. The firm has a market cap of $14.82 billion, a P/E ratio of 27.92, a P/E/G ratio of 3.43 and a beta of 0.80. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14.

Regency Centers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were paid a $0.755 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.02 dividend on an annualized basis and a yield of 3.7%. Regency Centers’s payout ratio is 104.14%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Citigroup raised their target price on shares of Regency Centers from $76.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Barclays increased their price objective on Regency Centers from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Jefferies Financial Group upgraded Regency Centers to a “strong-buy” rating in a report on Friday, June 26th. BTIG Research reaffirmed a “buy” rating and set a $85.00 target price on shares of Regency Centers in a research report on Friday, June 12th. Finally, Morgan Stanley upped their target price on Regency Centers from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, Regency Centers has an average rating of “Moderate Buy” and a consensus target price of $82.62.

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.