Connor Clark & Lunn Investment Management Ltd. bought a new stake in Regency Centers Corp (NYSE:REG) during the 2nd quarter, Holdings Channel reports. The fund bought 10,100 shares of the real estate investment trust’s stock, valued at approximately $627,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of REG. Piedmont Investment Advisors LLC purchased a new stake in shares of Regency Centers during the second quarter worth about $107,000. Brown Advisory Inc. purchased a new stake in shares of Regency Centers during the first quarter worth about $206,000. WINTON GROUP Ltd purchased a new stake in shares of Regency Centers during the first quarter worth about $207,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Regency Centers during the second quarter worth about $239,000. Finally, Advisor Partners LLC purchased a new stake in shares of Regency Centers during the first quarter worth about $249,000. Institutional investors own 90.94% of the company’s stock.
In related news, VP Dan M. Chandler III sold 2,500 shares of Regency Centers stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $63.35, for a total transaction of $158,375.00. Following the completion of the sale, the vice president now owns 885 shares of the company’s stock, valued at $56,064.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider H Craig Ramey sold 1,365 shares of Regency Centers stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $63.27, for a total value of $86,363.55. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
A number of equities research analysts have recently weighed in on REG shares. Wells Fargo & Co boosted their price target on Regency Centers from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, August 10th. BMO Capital Markets set a $68.00 price target on Regency Centers and gave the stock a “hold” rating in a research note on Tuesday, May 1st. Zacks Investment Research upgraded Regency Centers from a “sell” rating to a “hold” rating in a research note on Thursday, May 3rd. Jefferies Financial Group restated a “hold” rating and set a $67.00 price target on shares of Regency Centers in a research note on Wednesday, August 15th. Finally, ValuEngine lowered Regency Centers from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $68.04.
Regency Centers stock opened at $65.21 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.92 and a quick ratio of 0.92. Regency Centers Corp has a 52 week low of $54.87 and a 52 week high of $70.64. The stock has a market cap of $10.72 billion, a P/E ratio of 17.67, a PEG ratio of 2.35 and a beta of 0.46.
Regency Centers (NYSE:REG) last released its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.06). Regency Centers had a return on equity of 3.83% and a net margin of 22.90%. The firm had revenue of $274.53 million for the quarter, compared to analyst estimates of $269.18 million. During the same period last year, the firm earned $0.93 EPS. equities analysts anticipate that Regency Centers Corp will post 3.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 29th. Investors of record on Wednesday, August 15th will be issued a dividend of $0.555 per share. This represents a $2.22 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date is Tuesday, August 14th. Regency Centers’s dividend payout ratio (DPR) is 60.16%.
Regency Centers Company 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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