Advisors Asset Management Inc. grew its holdings in shares of Regency Centers Corporation (NYSE:REG) by 3,080.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,505 shares of the real estate investment trust’s stock after acquiring an additional 7,269 shares during the quarter. Advisors Asset Management Inc.’s holdings in Regency Centers were worth $466,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the company. Comerica Bank boosted its position in shares of Regency Centers by 2.8% during the 3rd quarter. Comerica Bank now owns 42,599 shares of the real estate investment trust’s stock valued at $2,651,000 after acquiring an additional 1,153 shares during the last quarter. Rhumbline Advisers lifted its position in Regency Centers by 1.2% in the 3rd quarter. Rhumbline Advisers now owns 283,545 shares of the real estate investment trust’s stock worth $17,591,000 after buying an additional 3,320 shares during the last quarter. Toronto Dominion Bank lifted its position in Regency Centers by 13.5% in the 3rd quarter. Toronto Dominion Bank now owns 56,344 shares of the real estate investment trust’s stock worth $3,495,000 after buying an additional 6,714 shares during the last quarter. New York State Common Retirement Fund lifted its position in Regency Centers by 1.5% in the 3rd quarter. New York State Common Retirement Fund now owns 331,940 shares of the real estate investment trust’s stock worth $20,594,000 after buying an additional 5,000 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in Regency Centers by 7.3% in the 3rd quarter. CIBC Asset Management Inc now owns 18,464 shares of the real estate investment trust’s stock worth $1,146,000 after buying an additional 1,249 shares during the last quarter. Hedge funds and other institutional investors own 92.49% of the company’s stock.
Regency Centers Corporation (NYSE:REG) traded up $0.54 on Tuesday, hitting $68.60. The stock had a trading volume of 1,220,000 shares, compared to its average volume of 1,160,062. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.53. Regency Centers Corporation has a 52-week low of $58.63 and a 52-week high of $72.05. The stock has a market capitalization of $11,670.00, a PE ratio of 18.70, a PEG ratio of 2.27 and a beta of 0.58.
Regency Centers (NYSE:REG) last posted its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.04. Regency Centers had a return on equity of 2.82% and a net margin of 17.59%. The firm had revenue of $262.14 million for the quarter, compared to analysts’ expectations of $254.04 million. During the same period in the previous year, the firm earned $0.81 earnings per share. analysts forecast that Regency Centers Corporation will post 3.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Wednesday, November 15th were paid a $0.53 dividend. The ex-dividend date was Tuesday, November 14th. This represents a $2.12 annualized dividend and a yield of 3.09%. Regency Centers’s payout ratio is 235.56%.
In related news, Vice Chairman Chaim Katzman sold 1,055,758 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $64.30, for a total value of $67,885,239.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.66% of the stock is owned by corporate insiders.
A number of research firms recently weighed in on REG. Citigroup set a $70.00 target price on Regency Centers and gave the stock a “hold” rating in a research report on Monday, August 14th. Boenning Scattergood reaffirmed a “hold” rating on shares of Regency Centers in a research note on Monday, August 7th. SunTrust Banks reaffirmed a “buy” rating and issued a $74.00 price target on shares of Regency Centers in a research note on Friday. Zacks Investment Research cut Regency Centers from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $72.00 price target on shares of Regency Centers in a research note on Thursday, August 24th. Eight analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Regency Centers has a consensus rating of “Hold” and a consensus price target of $70.59.
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About Regency Centers
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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