State Board of Administration of Florida Retirement System lifted its stake in Regency Centers Co. (NYSE:REG) by 0.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 226,398 shares of the real estate investment trust’s stock after acquiring an additional 1,805 shares during the period. State Board of Administration of Florida Retirement System owned 0.13% of Regency Centers worth $13,353,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Regency Centers by 1.4% in the 4th quarter. BlackRock Inc. now owns 15,413,941 shares of the real estate investment trust’s stock valued at $1,066,338,000 after acquiring an additional 214,023 shares in the last quarter. APG Asset Management US Inc. increased its position in Regency Centers by 1.6% in the 4th quarter. APG Asset Management US Inc. now owns 5,247,000 shares of the real estate investment trust’s stock worth $362,987,000 after buying an additional 84,000 shares during the period. Cbre Clarion Securities LLC increased its position in Regency Centers by 24.3% in the 4th quarter. Cbre Clarion Securities LLC now owns 5,093,711 shares of the real estate investment trust’s stock worth $352,383,000 after buying an additional 997,435 shares during the period. Boston Partners increased its position in Regency Centers by 13.2% in the 1st quarter. Boston Partners now owns 3,058,030 shares of the real estate investment trust’s stock worth $180,363,000 after buying an additional 355,796 shares during the period. Finally, Geode Capital Management LLC increased its position in Regency Centers by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 1,941,830 shares of the real estate investment trust’s stock worth $134,105,000 after buying an additional 79,895 shares during the period. 94.14% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Bryce Blair acquired 1,709 shares of the firm’s stock in a transaction dated Monday, March 5th. The shares were bought at an average price of $58.50 per share, with a total value of $99,976.50. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider H Craig Ramey sold 1,200 shares of Regency Centers stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $58.80, for a total value of $70,560.00. Following the sale, the insider now directly owns 17,137 shares in the company, valued at approximately $1,007,655.60. The disclosure for this sale can be found here. Insiders have sold a total of 9,736 shares of company stock worth $569,771 in the last three months. 1.10% of the stock is owned by insiders.
Several brokerages have commented on REG. BTIG Research raised Regency Centers from a “neutral” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Monday, January 29th. Boenning Scattergood reaffirmed a “hold” rating on shares of Regency Centers in a research report on Wednesday, May 2nd. ValuEngine downgraded Regency Centers from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. SunTrust Banks set a $67.00 price target on Regency Centers and gave the stock a “buy” rating in a research report on Friday, March 2nd. Finally, BMO Capital Markets set a $68.00 price target on Regency Centers and gave the stock a “hold” rating in a research report on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Regency Centers presently has a consensus rating of “Buy” and a consensus price target of $68.32.
Shares of NYSE:REG opened at $56.27 on Friday. Regency Centers Co. has a 1-year low of $56.22 and a 1-year high of $56.90. The company has a market cap of $9.55 billion, a PE ratio of 15.25, a PEG ratio of 2.11 and a beta of 0.46. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58.
Regency Centers (NYSE:REG) last announced its quarterly earnings data on Monday, April 30th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.63). Regency Centers had a return on equity of 3.83% and a net margin of 23.85%. The firm had revenue of $269.54 million for the quarter, compared to analyst estimates of $263.14 million. During the same period in the previous year, the business posted $0.90 EPS. research analysts expect that Regency Centers Co. will post 3.78 EPS for the current year.
Regency Centers announced that its Board of Directors has authorized a stock buyback program on Thursday, February 8th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 30th. Stockholders of record on Wednesday, May 16th will be issued a dividend of $0.555 per share. This represents a $2.22 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Tuesday, May 15th. Regency Centers’s payout ratio is presently 60.16%.
Regency Centers Profile
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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.
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