CIBC Asset Management Inc Boosts Holdings in Regency Centers Corporation $REG

Key Points

• CIBC Asset Management increased its stake in Regency Centers by 7.0% in the fourth quarter, ending with 265,524 shares valued at about $18.3 million.
• Several insiders sold shares recently, including Chairman Martin E. Stein, Jr. and insider Nicholas Andrew Wibbenmeyer; insiders sold a combined 450,032 shares worth about $35.2 million over the past 90 days.
• Regency Centers declared a quarterly dividend of $0.755 per share, implying an annualized yield of about 3.9%, while analysts currently rate the stock a consensus Hold with an average target price of $82.07.

CIBC Asset Management Inc increased its position in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 265,524 shares of the company's stock after buying an additional 17,422 shares during the quarter. CIBC Asset Management Inc owned about 0.15% of Regency Centers worth $18,329,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. raised its position in Regency Centers by 63.1% in the third quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company's stock valued at $30,000 after purchasing an additional 157 shares during the period. CYBER HORNET ETFs LLC purchased a new position in shares of Regency Centers during the 2nd quarter worth $31,000. Hantz Financial Services Inc. grew its holdings in shares of Regency Centers by 388.9% during the 4th quarter. Hantz Financial Services Inc. now owns 440 shares of the company's stock worth $30,000 after purchasing an additional 350 shares during the period. MUFG Securities EMEA plc acquired a new stake in shares of Regency Centers during the 2nd quarter worth about $34,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Regency Centers by 233.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 570 shares of the company's stock valued at $41,000 after buying an additional 399 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of Regency Centers stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $79.06, for a total transaction of $626,708.62. Following the completion of the sale, the insider directly owned 33,069 shares of the company's stock, valued at approximately $2,614,435.14. The trade was a 19.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Martin E. Stein, Jr. sold 274,615 shares of the 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. Insiders sold a total of 450,032 shares of company stock worth $35,233,456 over the last 90 days. Company insiders own 1.00% of the company's stock.

Regency Centers Trading Up 0.5%

REG opened at $76.68 on Friday. The business has a fifty day moving average price of $77.89 and a 200 day moving average price of $74.44. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. Regency Centers Corporation has a 12 month low of $66.86 and a 12 month high of $81.66. The stock has a market capitalization of $14.04 billion, a price-to-earnings ratio of 26.44, a PEG ratio of 3.23 and a beta of 0.81.

Regency Centers Dividend Announcement

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

Analyst Ratings Changes

REG has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Regency Centers from a "buy" rating to a "hold" rating and set a $85.00 target price on the stock. in a research report on Friday, May 29th. Citigroup boosted their price target on shares of Regency Centers from $76.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, May 5th. UBS Group increased their price objective on shares of Regency Centers from $75.00 to $81.00 and gave the stock a "neutral" rating in a research report on Monday, May 18th. Scotiabank lifted their target price on shares of Regency Centers from $76.00 to $82.00 and gave the company a "sector perform" rating in a report on Tuesday, March 24th. Finally, Evercore set a $80.00 target price on Regency Centers in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $82.07.

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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