BNP Paribas Financial Markets Boosts Stock Position in Regency Centers Corporation $REG

Key Points

• BNP Paribas Financial Markets increased its stake in Regency Centers by 15.3% in the fourth quarter, ending with 396,256 shares valued at about $27.4 million.
• Analysts are mixed on REG, with recent target hikes from Wells Fargo and Morgan Stanley to $88, but the overall consensus remains a Hold with a price target of $82.07.
• Regency Centers declared a quarterly dividend of $0.755 per share, or $3.02 annually, for a 3.9% yield, though the payout ratio is elevated at 104.14%.

BNP Paribas Financial Markets grew its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 15.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 396,256 shares of the company's stock after purchasing an additional 52,606 shares during the period. BNP Paribas Financial Markets owned approximately 0.22% of Regency Centers worth $27,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Regency Centers in the fourth quarter valued at approximately $1,183,667,000. State Street Corp lifted its stake in Regency Centers by 3.1% during the third quarter. State Street Corp now owns 12,403,992 shares of the company's stock worth $912,739,000 after purchasing an additional 368,031 shares in the last quarter. Geode Capital Management LLC lifted its stake in Regency Centers by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 4,915,089 shares of the company's stock worth $338,110,000 after purchasing an additional 67,739 shares in the last quarter. Boston Partners increased its position in shares of Regency Centers by 2.1% during the third quarter. Boston Partners now owns 3,540,137 shares of the company's stock worth $258,062,000 after acquiring an additional 72,584 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Regency Centers by 2.8% during the fourth quarter. Legal & General Group Plc now owns 1,705,024 shares of the company's stock worth $117,698,000 after acquiring an additional 46,438 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on REG shares. Wells Fargo & Company raised their price target on Regency Centers from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Regency Centers in a report on Friday, May 29th. Citigroup raised their price target on Regency Centers from $76.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft lowered Regency Centers from a "buy" rating to a "hold" rating and set a $85.00 price target on the stock. in a report on Friday, May 29th. Finally, Morgan Stanley lifted their price objective on Regency Centers from $85.00 to $88.00 and gave the company an "overweight" rating in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $82.07.

Regency Centers Price Performance

Shares of REG opened at $76.68 on Friday. Regency Centers Corporation has a twelve month low of $66.86 and a twelve month high of $81.66. The stock's 50 day moving average is $77.89 and its two-hundred day moving average is $74.44. The firm has a market capitalization of $14.04 billion, a PE ratio of 26.44, a P/E/G ratio of 3.23 and a beta of 0.81. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72.

Regency Centers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be paid a dividend of $0.755 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.02 annualized dividend and a dividend yield of 3.9%. Regency Centers's payout ratio is 104.14%.

Insider Activity at Regency Centers

In other news, Chairman Martin E. Stein, Jr. sold 274,615 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $78.40, for a total transaction of $21,529,816.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $79.06, for a total value of $626,708.62. Following the sale, the insider directly owned 33,069 shares in the company, valued at $2,614,435.14. This trade represents a 19.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 450,032 shares of company stock worth $35,233,456 in the last three months. Corporate insiders own 1.00% of the company's stock.

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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