Regency Centers Co. (NASDAQ:REG) Shares Bought by Bank of America Corp DE

Bank of America Corp DE grew its holdings in shares of Regency Centers Co. (NASDAQ:REG) by 41.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 566,846 shares of the company’s stock after purchasing an additional 166,115 shares during the quarter. Bank of America Corp DE owned approximately 0.31% of Regency Centers worth $41,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in REG. JPMorgan Chase & Co. raised its holdings in shares of Regency Centers by 4.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,090,347 shares of the company’s stock worth $801,056,000 after acquiring an additional 435,932 shares during the period. Czech National Bank raised its holdings in shares of Regency Centers by 6.4% during the 4th quarter. Czech National Bank now owns 35,419 shares of the company’s stock worth $2,619,000 after acquiring an additional 2,144 shares during the period. Contravisory Investment Management Inc. purchased a new position in shares of Regency Centers during the 4th quarter worth $567,000. Ritholtz Wealth Management purchased a new position in shares of Regency Centers during the 4th quarter worth $207,000. Finally, Avanza Fonder AB purchased a new position in shares of Regency Centers during the 4th quarter worth $902,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Regency Centers Stock Up 0.5%

Shares of NASDAQ:REG opened at $72.59 on Friday. 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 firm has a market capitalization of $13.18 billion, a PE ratio of 34.24, a price-to-earnings-growth ratio of 3.75 and a beta of 1.02. The firm’s 50-day moving average is $71.46 and its two-hundred day moving average is $72.77. Regency Centers Co. has a 1 year low of $58.19 and a 1 year high of $78.18.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.01. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. The business had revenue of $370.35 million during the quarter, compared to the consensus estimate of $364.64 million. During the same period in the previous year, the company posted $1.08 earnings per share. Analysts predict that Regency Centers Co. will post 4.54 EPS for the current year.

Regency Centers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be given a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date of this dividend is Wednesday, June 11th. Regency Centers’s dividend payout ratio is presently 133.02%.

Analysts Set New Price Targets

Several research firms have recently commented on REG. Wells Fargo & Company reduced their price target on Regency Centers from $80.00 to $79.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Scotiabank decreased their target price on shares of Regency Centers from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Monday. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Regency Centers currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.00.

Insider Transactions at Regency Centers

In related news, CEO Lisa Palmer sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $73.26, for a total value of $1,831,500.00. Following the completion of the transaction, the chief executive officer now directly owns 139,923 shares of the company’s stock, valued at $10,250,758.98. This represents a 15.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 110,263 shares of the company’s stock, valued at $8,102,125.24. This trade represents a 31.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,000 shares of company stock valued at $6,977,500. 1.00% of the stock is currently owned by corporate insiders.

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.