Royal Bank of Canada Has $10.85 Million Stake in Regency Centers Corporation $REG

Royal Bank of Canada reduced its holdings in Regency Centers Corporation (NASDAQ:REG) by 48.3% in the 1st quarter, Holdings Channel reports. The fund owned 147,062 shares of the company’s stock after selling 137,634 shares during the quarter. Royal Bank of Canada’s holdings in Regency Centers were worth $10,847,000 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 REG. Envestnet Asset Management Inc. increased its position in shares of Regency Centers by 3.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 120,960 shares of the company’s stock worth $8,922,000 after purchasing an additional 3,773 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Regency Centers by 14.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,322 shares of the company’s stock worth $2,210,000 after purchasing an additional 3,857 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Regency Centers by 7.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,296 shares of the company’s stock worth $317,000 after buying an additional 283 shares during the last quarter. Teacher Retirement System of Texas increased its position in Regency Centers by 46.2% during the 1st quarter. Teacher Retirement System of Texas now owns 29,633 shares of the company’s stock worth $2,186,000 after purchasing an additional 9,359 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Regency Centers by 43.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,435 shares of the company’s stock worth $106,000 after purchasing an additional 432 shares in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.

Regency Centers Price Performance

Shares of Regency Centers stock opened at $72.24 on Friday. The firm has a market capitalization of $13.12 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 3.12 and a beta of 1.09. Regency Centers Corporation has a 12 month low of $63.44 and a 12 month high of $78.18. The business’s 50-day moving average price is $71.42 and its 200-day moving average price is $71.73. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72.

Regency Centers (NASDAQ:REG) last issued its earnings results on Tuesday, July 29th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.04. The company had revenue of $369.85 million during the quarter, compared to analysts’ expectations of $366.35 million. Regency Centers had a return on equity of 6.05% and a net margin of 27.00%.Regency Centers’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.06 EPS. Regency Centers has set its FY 2025 guidance at 4.590-4.630 EPS. Sell-side analysts forecast that Regency Centers Corporation will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be issued a $0.705 dividend. The ex-dividend date is Thursday, September 11th. This represents a $2.82 annualized dividend and a yield of 3.9%. Regency Centers’s dividend payout ratio (DPR) is 131.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Mizuho increased their price target on Regency Centers from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, August 20th. Truist Financial lifted their target price on Regency Centers from $79.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, August 15th. LADENBURG THALM/SH SH assumed coverage on Regency Centers in a research report on Tuesday. They issued a “neutral” rating and a $76.00 price objective on the stock. Barclays boosted their target price on Regency Centers from $77.00 to $79.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 27th. Finally, Evercore ISI boosted their price objective on Regency Centers from $79.00 to $80.00 and gave the company an “in-line” rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.67.

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.