First Trust Advisors LP Reduces Stake in Regency Centers Co. (NASDAQ:REG)

First Trust Advisors LP lowered its stake in shares of Regency Centers Co. (NASDAQ:REG) by 13.8% in the 4th quarter, HoldingsChannel reports. The firm owned 86,838 shares of the company’s stock after selling 13,907 shares during the quarter. First Trust Advisors LP’s holdings in Regency Centers were worth $6,420,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. GeoWealth Management LLC raised its stake in shares of Regency Centers by 22.7% in the fourth quarter. GeoWealth Management LLC now owns 13,878 shares of the company’s stock valued at $1,026,000 after buying an additional 2,564 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Regency Centers by 7.1% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 326,654 shares of the company’s stock worth $24,134,000 after purchasing an additional 21,539 shares in the last quarter. Dean Investment Associates LLC lifted its stake in shares of Regency Centers by 4.5% during the 4th quarter. Dean Investment Associates LLC now owns 41,935 shares of the company’s stock valued at $3,100,000 after buying an additional 1,814 shares in the last quarter. Farringdon Capital Ltd. bought a new position in Regency Centers in the 4th quarter worth approximately $322,000. Finally, United Capital Financial Advisors LLC purchased a new position in Regency Centers in the 4th quarter valued at approximately $477,000. Institutional investors own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

REG has been the subject of a number of analyst reports. Mizuho raised their price target on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Scotiabank decreased their price target on Regency Centers from $80.00 to $76.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their price objective on shares of Regency Centers from $80.00 to $79.00 and set an “overweight” rating for the company in a research report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.08.

Regency Centers Trading Up 0.0 %

Shares of REG stock opened at $71.85 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 0.66. The firm has a market cap of $13.04 billion, a P/E ratio of 33.89, a price-to-earnings-growth ratio of 3.75 and a beta of 1.03. The business has a 50-day moving average price of $72.14 and a two-hundred day moving average price of $72.71. Regency Centers Co. has a 12-month low of $58.08 and a 12-month high of $78.18.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.01. The business had revenue of $370.35 million for the quarter, compared to analysts’ expectations of $364.64 million. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. During the same period last year, the business earned $1.08 earnings per share. Equities analysts anticipate that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.705 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.92%. Regency Centers’s dividend payout ratio (DPR) is currently 133.02%.

Insider Transactions at Regency Centers

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the completion of the sale, the chairman now owns 110,263 shares of the company’s stock, valued at $8,102,125.24. This represents a 31.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lisa Palmer sold 25,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the transaction, the chief executive officer now directly 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 have sold 95,000 shares of company stock worth $6,977,500. Company insiders own 1.00% of the company’s stock.

About Regency Centers

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.