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Boston Partners Sells 88,027 Shares of Regency Centers Corporation (NASDAQ:REG)

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Key Points

  • Boston Partners reduced its stake in Regency Centers Corporation by 2.2%, now owning approximately 3,927,455 shares valued at $289,675,000 after selling 88,027 shares.
  • Regency Centers reported an EPS of $1.16 for the latest quarter, exceeding expectations, with a revenue of $369.85 million, marking a 6.6% increase from the previous year.
  • The company announced a quarterly dividend of $0.705 per share, which corresponds to a 3.9% dividend yield, with a payout ratio of 131.78%.
  • Want stock alerts on Regency Centers? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Boston Partners lessened its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 2.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,927,455 shares of the company's stock after selling 88,027 shares during the period. Boston Partners owned approximately 2.16% of Regency Centers worth $289,675,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new stake in shares of Regency Centers during the 1st quarter valued at $25,000. Heck Capital Advisors LLC bought a new stake in shares of Regency Centers during the 4th quarter valued at $26,000. TD Waterhouse Canada Inc. grew its position in shares of Regency Centers by 48,700.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company's stock valued at $36,000 after acquiring an additional 487 shares during the period. Caitong International Asset Management Co. Ltd grew its position in shares of Regency Centers by 42.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 505 shares of the company's stock valued at $37,000 after acquiring an additional 150 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new stake in shares of Regency Centers during the 4th quarter valued at $39,000. Institutional investors own 96.07% of the company's stock.

Regency Centers Stock Up 0.5%

Shares of REG stock opened at $71.88 on Wednesday. The stock has a market cap of $13.05 billion, a P/E ratio of 33.59, a PEG ratio of 3.43 and a beta of 1.05. Regency Centers Corporation has a 52 week low of $63.44 and a 52 week high of $78.18. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.72. The company's fifty day simple moving average is $70.97 and its two-hundred day simple moving average is $71.86.

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

Regency Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be given a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Thursday, September 11th. Regency Centers's dividend payout ratio is currently 131.78%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on REG. Wall Street Zen downgraded shares of Regency Centers from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Truist Financial lifted their target price on shares of Regency Centers from $78.00 to $79.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Evercore ISI lifted their target price on shares of Regency Centers from $79.00 to $80.00 and gave the company an "in-line" rating in a research note on Wednesday, July 30th. Scotiabank lowered their target price on shares of Regency Centers from $76.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. Finally, Robert W. Baird lifted their target price on shares of Regency Centers from $78.00 to $80.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Regency Centers currently has a consensus rating of "Moderate Buy" and an average target price of $77.92.

Read Our Latest Stock Analysis on Regency Centers

Insider Activity

In other news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $72.44, for a total transaction of $301,205.52. Following the sale, the insider directly owned 33,069 shares in the company, valued at approximately $2,395,518.36. This represents a 11.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company's stock.

About Regency Centers

(Free Report)

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.

See Also

Want to see what other hedge funds are holding REG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regency Centers Corporation (NASDAQ:REG - Free Report).

Institutional Ownership by Quarter for Regency Centers (NASDAQ:REG)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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