California Public Employees Retirement System Sells 35,852 Shares of Regency Centers Corporation $REG

Key Points

• CalPERS reduced its stake in Regency Centers by 7.4% in the first quarter, selling 35,852 shares and ending with 445,886 shares valued at about $33.7 million.
• Wall Street remains constructive on the stock, with analysts assigning a consensus rating of “Moderate Buy” and an average price target of $82.94, alongside several individual targets in the low-to-high $80s.
• Regency Centers continues to pay a sizable dividend, recently issuing a quarterly payout of $0.755 per share, or $3.02 annualized, for a yield of about 3.7%.

California Public Employees Retirement System lowered its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 445,886 shares of the company's stock after selling 35,852 shares during the quarter. California Public Employees Retirement System owned approximately 0.24% of Regency Centers worth $33,736,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of REG. Kera Capital Partners Inc. grew its stake in Regency Centers by 12.8% in the first quarter. Kera Capital Partners Inc. now owns 4,775 shares of the company's stock valued at $361,000 after purchasing an additional 543 shares in the last quarter. Assetmark Inc. increased its position in shares of Regency Centers by 2.9% during the 1st quarter. Assetmark Inc. now owns 24,487 shares of the company's stock worth $1,853,000 after purchasing an additional 695 shares during the last quarter. Wealthfront Advisers LLC raised its stake in shares of Regency Centers by 2.2% during the 1st quarter. Wealthfront Advisers LLC now owns 25,877 shares of the company's stock worth $1,958,000 after purchasing an additional 555 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH bought a new stake in shares of Regency Centers during the 1st quarter worth approximately $205,000. Finally, Maryland State Retirement & Pension System boosted its holdings in shares of Regency Centers by 10.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 9,358 shares of the company's stock valued at $708,000 after buying an additional 919 shares during the last quarter. Institutional investors own 96.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. BTIG Research reissued a "buy" rating and issued a $85.00 target price on shares of Regency Centers in a research note on Friday, June 12th. Evercore set a $81.00 price target on shares of Regency Centers in a research report on Tuesday, July 7th. Raymond James Financial reaffirmed an "outperform" rating and set a $88.00 price target on shares of Regency Centers in a research report on Monday, June 29th. Scotiabank increased their price target on shares of Regency Centers from $76.00 to $82.00 and gave the company a "sector perform" rating in a research note on Tuesday, March 24th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Regency Centers in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Regency Centers presently has an average rating of "Moderate Buy" and a consensus target price of $82.94.

Regency Centers Price Performance

NASDAQ:REG opened at $82.09 on Wednesday. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. The stock's 50 day moving average price is $79.03 and its two-hundred day moving average price is $76.89. The firm has a market capitalization of $15.03 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 3.48 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 Announces Dividend

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

Insider Buying and Selling

In related news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the stock in a transaction 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 owned 33,069 shares in the company, valued at approximately $2,614,435.14. This represents a 19.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Martin E. Stein, Jr. sold 274,615 shares of the firm's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $78.40, for a total value of $21,529,816.00. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 283,782 shares of company stock valued at $22,255,898. 1.00% of the stock is owned by insiders.

Regency Centers Company 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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