Jupiter Asset Management Ltd. Acquires New Shares in Regency Centers Corporation (NASDAQ:REG)

Key Points

• Jupiter Asset Management Ltd. acquired 134,597 shares of Regency Centers Corporation, valued at approximately $9.93 million, during the first quarter, marking a new position for the institutional investor.
• Regency Centers reported earnings of $1.16 per share for the last quarter, exceeding analysts' expectations, and showed a 6.6% year-over-year increase in revenue.
• The company announced a quarterly dividend of $0.705 per share, resulting in an annualized yield of 4.0%, with a dividend payout ratio currently standing at 131.78%.

Jupiter Asset Management Ltd. bought a new stake in Regency Centers Corporation (NASDAQ:REG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 134,597 shares of the company's stock, valued at approximately $9,928,000. Jupiter Asset Management Ltd. owned 0.07% of Regency Centers as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of REG. Invesco Ltd. boosted its stake in Regency Centers by 121.2% in the fourth quarter. Invesco Ltd. now owns 5,374,450 shares of the company's stock valued at $397,333,000 after acquiring an additional 2,944,854 shares during the period. Northern Trust Corp raised its holdings in shares of Regency Centers by 64.1% during the fourth quarter. Northern Trust Corp now owns 2,781,614 shares of the company's stock valued at $205,645,000 after buying an additional 1,086,797 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Regency Centers during the first quarter valued at approximately $32,136,000. Adelante Capital Management LLC bought a new stake in shares of Regency Centers during the fourth quarter valued at approximately $24,399,000. Finally, FMR LLC raised its holdings in shares of Regency Centers by 16.1% during the fourth quarter. FMR LLC now owns 2,113,299 shares of the company's stock valued at $156,236,000 after buying an additional 293,668 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Regency Centers Stock Down 1.2%

Shares of Regency Centers stock traded down $0.88 on Thursday, hitting $72.32. 85,456 shares of the company traded hands, compared to its average volume of 1,098,886. The company has a 50-day moving average price of $70.96 and a 200 day moving average price of $71.85. The company has a quick ratio of 1.01, a current ratio of 1.13 and a debt-to-equity ratio of 0.72. Regency Centers Corporation has a 12-month low of $63.44 and a 12-month high of $78.18. The company has a market cap of $13.13 billion, a PE ratio of 33.78, a PEG ratio of 3.54 and a beta of 1.05.

Regency Centers (NASDAQ:REG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.12 by $0.04. Regency Centers had a net margin of 27.00% and a return on equity of 6.05%. The business had revenue of $369.85 million for the quarter, compared to analysts' expectations of $366.35 million. During the same period in the previous year, the company posted $1.06 EPS. Regency Centers's revenue was up 6.6% on a year-over-year basis. Sell-side analysts predict that Regency Centers Corporation will post 4.54 earnings per share for the current year.

Regency Centers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be paid a $0.705 dividend. This represents a $2.82 annualized dividend and a dividend yield of 3.9%. Regency Centers's payout ratio is presently 131.78%.

Insider Activity

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of Regency Centers stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $72.44, for a total value of $301,205.52. Following the completion of the sale, the insider owned 33,069 shares of the company's stock, valued at approximately $2,395,518.36. The trade was a 11.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays assumed coverage on Regency Centers in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $77.00 price target on the stock. Wall Street Zen cut Regency Centers from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Robert W. Baird boosted their target price on Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Scotiabank dropped their target price on Regency Centers from $76.00 to $75.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. Finally, Mizuho dropped their target price on Regency Centers from $79.00 to $74.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $77.92.

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.