Bank of New York Mellon Corp Grows Stock Holdings in Regency Centers Corporation (NASDAQ:REG)

Bank of New York Mellon Corp increased its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 0.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,477,599 shares of the company's stock after purchasing an additional 9,619 shares during the quarter. Bank of New York Mellon Corp owned 0.81% of Regency Centers worth $108,988,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in REG. US Bancorp DE increased its holdings in Regency Centers by 4.3% during the 4th quarter. US Bancorp DE now owns 8,383 shares of the company's stock valued at $620,000 after acquiring an additional 347 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in Regency Centers by 9.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,677 shares of the company's stock valued at $272,000 after acquiring an additional 326 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Regency Centers during the 4th quarter valued at about $11,925,000. PNC Financial Services Group Inc. increased its holdings in Regency Centers by 16.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 21,170 shares of the company's stock valued at $1,565,000 after acquiring an additional 3,049 shares in the last quarter. Finally, Amundi increased its holdings in Regency Centers by 29.2% during the 4th quarter. Amundi now owns 447,837 shares of the company's stock valued at $31,416,000 after acquiring an additional 101,258 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Regency Centers Trading Up 0.1%

Shares of REG traded up $0.08 during mid-day trading on Friday, hitting $69.34. The company had a trading volume of 1,380,379 shares, compared to its average volume of 1,065,762. The business's 50-day simple moving average is $71.43 and its 200-day simple moving average is $71.94. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.70. Regency Centers Corporation has a 1-year low of $63.44 and a 1-year high of $78.18. The stock has a market cap of $12.59 billion, a PE ratio of 32.71, a P/E/G ratio of 3.38 and a beta of 1.00.

Regency Centers (NASDAQ:REG - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.01. Regency Centers had a net margin of 27.21% and a return on equity of 5.98%. The business had revenue of $370.35 million for the quarter, compared to analysts' expectations of $364.64 million. During the same period last year, the company earned $1.08 earnings per share. Sell-side analysts forecast that Regency Centers Corporation will post 4.54 earnings per share for the current year.

Regency Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.705 per share. The ex-dividend date was Wednesday, June 11th. This represents a $2.82 dividend on an annualized basis and a yield of 4.07%. Regency Centers's dividend payout ratio (DPR) is 133.02%.

Insiders Place Their Bets

In other Regency Centers news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $72.44, for a total transaction of $301,205.52. Following the completion of the sale, the insider directly owned 33,069 shares in the company, valued at $2,395,518.36. The trade was a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Regency Centers from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Wall Street Zen downgraded shares of Regency Centers from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Truist Financial lifted their price target on shares of Regency Centers from $78.00 to $79.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Scotiabank lowered their price target on shares of Regency Centers from $76.00 to $75.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. Finally, Barclays assumed coverage on shares of Regency Centers in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $77.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Regency Centers presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.00.

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.