Bank of America Corp DE Raises Stock Position in Regency Centers Corporation $REG

Key Points

• Bank of America increased its Regency Centers stake by 66.5% in the first quarter, adding 287,317 shares to own 719,536 shares worth approximately $54.4 million. Institutional investors collectively hold 96.07% of REG’s outstanding stock.
• Regency Centers announced a quarterly dividend of $0.755 per share, or $3.02 annualized, representing a 4.0% yield. The payout ratio stands at 102.37%.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $83.82, compared with the stock’s reported opening price of $75.82.

Bank of America Corp DE grew its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 66.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 719,536 shares of the company's stock after buying an additional 287,317 shares during the period. Bank of America Corp DE owned 0.39% of Regency Centers worth $54,440,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Havemeyer Place LP acquired a new stake in shares of Regency Centers during the fourth quarter worth about $26,000. Brown Brothers Harriman & Co. increased its position in Regency Centers by 63.1% during the third quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company's stock worth $30,000 after buying an additional 157 shares during the period. CYBER HORNET ETFs LLC purchased a new stake in Regency Centers in the second quarter valued at approximately $31,000. Hantz Financial Services Inc. lifted its stake in Regency Centers by 388.9% in the fourth quarter. Hantz Financial Services Inc. now owns 440 shares of the company's stock valued at $30,000 after buying an additional 350 shares during the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Regency Centers in the second quarter valued at approximately $34,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Regency Centers Stock Performance

Shares of REG stock opened at $75.82 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $79.66 and a 200-day simple moving average of $77.91. The company has a market cap of $13.88 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 3.18 and a beta of 0.80. Regency Centers Corporation has a 12-month low of $66.86 and a 12-month high of $83.66.

Regency Centers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be given a dividend of $0.755 per share. This represents a $3.02 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, September 11th. Regency Centers's payout ratio is presently 102.37%.

Insider Buying and Selling at Regency Centers

In other news, insider Terah L. Devereaux sold 1,240 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $80.14, for a total transaction of $99,373.60. Following the transaction, the insider directly owned 17,990 shares of the company's stock, valued at $1,441,718.60. This represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

REG has been the subject of several research reports. Morgan Stanley upped their price target on shares of Regency Centers from $85.00 to $88.00 and gave the company an "overweight" rating in a research report on Tuesday, April 21st. Raymond James Financial reissued an "outperform" rating and set a $88.00 price objective on shares of Regency Centers in a research report on Monday, June 29th. BTIG Research restated a "buy" rating and issued a $85.00 price objective on shares of Regency Centers in a research note on Friday, June 12th. Argus set a $85.00 target price on shares of Regency Centers in a report on Monday. Finally, Citigroup increased their target price on shares of Regency Centers from $76.00 to $82.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, Regency Centers has an average rating of "Moderate Buy" and a consensus target price of $83.82.

Regency Centers Profile

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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