PNC Financial Services Group Inc. Boosts Holdings in Regency Centers Co. (NASDAQ:REG)

PNC Financial Services Group Inc. boosted its stake in Regency Centers Co. (NASDAQ:REG) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,170 shares of the company’s stock after acquiring an additional 3,049 shares during the period. PNC Financial Services Group Inc.’s holdings in Regency Centers were worth $1,565,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of REG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Regency Centers by 1,138.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,075,753 shares of the company’s stock valued at $149,932,000 after purchasing an additional 1,908,153 shares during the last quarter. Waterfront Capital Partners LLC purchased a new position in shares of Regency Centers during the third quarter worth approximately $33,628,000. JPMorgan Chase & Co. increased its holdings in shares of Regency Centers by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,090,347 shares of the company’s stock valued at $801,056,000 after acquiring an additional 435,932 shares during the period. Principal Financial Group Inc. raised its position in Regency Centers by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company’s stock valued at $678,873,000 after purchasing an additional 366,427 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in Regency Centers by 701.7% during the 3rd quarter. National Bank of Canada FI now owns 361,597 shares of the company’s stock worth $26,118,000 after purchasing an additional 316,496 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Mizuho upped their target price on shares of Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Wells Fargo & Company reduced their price objective on Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Evercore ISI dropped their target price on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. Finally, BTIG Research increased their price target on Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.08.

Regency Centers Price Performance

Shares of NASDAQ:REG opened at $71.07 on Friday. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 33.52, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23. 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 business’s 50 day simple moving average is $72.81 and its 200-day simple moving average is $73.02. Regency Centers Co. has a 12 month low of $56.51 and a 12 month high of $78.18.

Regency Centers (NASDAQ:REG) last posted its earnings results on Thursday, February 6th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.61. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. As a group, equities analysts forecast that Regency Centers Co. will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.705 per share. The ex-dividend date is Wednesday, March 12th. This represents a $2.82 annualized dividend and a yield of 3.97%. Regency Centers’s dividend payout ratio (DPR) is currently 133.02%.

Insiders Place Their Bets

In related news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $73.48, for a total value of $3,674,000.00. Following the completion of the transaction, the chairman now owns 110,263 shares of the company’s stock, valued at approximately $8,102,125.24. The trade was a 31.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lisa Palmer sold 25,000 shares of Regency Centers stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the sale, the chief executive officer now owns 139,923 shares of the company’s stock, valued at approximately $10,250,758.98. This trade represents a 15.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,000 shares of company stock worth $6,977,500. 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.