Andra AP fonden Cuts Holdings in Regency Centers Corporation $REG

Key Points

• Andra AP fonden sharply cut its stake in Regency Centers by 83.4% in the first quarter, selling 129,583 shares and leaving it with 25,717 shares worth about $1.95 million.
• Several analysts raised price targets on Regency Centers, with firms like Morgan Stanley, Barclays, and Wells Fargo boosting targets to the high-$80s or $90, while the overall consensus remains a Moderate Buy at $83.06.
• Insider selling has also been notable, including Chairman Martin E. Stein, Jr. selling 274,615 shares and total insider sales of 283,782 shares over the last 90 days; meanwhile, the stock recently traded near $81 and offers a 3.7% dividend yield.

Andra AP fonden reduced its holdings in Regency Centers Corporation (NASDAQ:REG - Free Report) by 83.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,717 shares of the company's stock after selling 129,583 shares during the quarter. Andra AP fonden's holdings in Regency Centers were worth $1,946,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. AQR Capital Management LLC lifted its holdings in Regency Centers by 15.4% in the first quarter. AQR Capital Management LLC now owns 64,337 shares of the company's stock valued at $4,701,000 after acquiring an additional 8,563 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Regency Centers by 3.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,894 shares of the company's stock worth $1,099,000 after buying an additional 557 shares during the period. Empowered Funds LLC increased its holdings in Regency Centers by 9.6% in the first quarter. Empowered Funds LLC now owns 5,856 shares of the company's stock valued at $432,000 after buying an additional 511 shares in the last quarter. Jane Street Group LLC increased its holdings in Regency Centers by 81.5% in the first quarter. Jane Street Group LLC now owns 8,247 shares of the company's stock valued at $608,000 after buying an additional 3,702 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Regency Centers by 47.6% during the 1st quarter. Intech Investment Management LLC now owns 20,011 shares of the company's stock valued at $1,476,000 after acquiring an additional 6,451 shares during the period. 96.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Morgan Stanley upped their price target on Regency Centers from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Tuesday, April 21st. Citigroup lifted their price objective on Regency Centers from $76.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, May 5th. Barclays boosted their target price on Regency Centers from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 12th. Wells Fargo & Company upped their target price on Regency Centers from $88.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Regency Centers in a research report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.06.

Insider Activity

In other news, Chairman Martin E. Stein, Jr. sold 274,615 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $78.40, for a total transaction of $21,529,816.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Terah L. Devereaux sold 1,240 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $80.14, for a total transaction of $99,373.60. Following the transaction, the insider owned 17,990 shares in the company, valued at approximately $1,441,718.60. The trade was a 6.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 283,782 shares of company stock valued at $22,255,898 in the last 90 days. 1.00% of the stock is currently owned by insiders.

Regency Centers Stock Performance

NASDAQ:REG opened at $81.18 on Friday. The firm has a 50 day simple moving average of $79.22 and a 200-day simple moving average of $77.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. The firm has a market cap of $14.86 billion, a PE ratio of 27.99, a P/E/G ratio of 3.49 and a beta of 0.80. Regency Centers Corporation has a 1-year low of $66.86 and a 1-year high of $83.66.

Regency Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were issued a $0.755 dividend. The ex-dividend date was Friday, June 12th. This represents a $3.02 annualized dividend and a yield of 3.7%. Regency Centers's payout ratio is 104.14%.

About Regency Centers

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company's portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.

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