Commonwealth of Pennsylvania Public School Empls Retrmt SYS Increases Position in Regency Centers Corporation $REG

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Regency Centers by 23.7% in Q1, adding 23,112 shares to bring its total to 120,479 shares valued at about $9.1 million.
• Regency Centers shares were trading around $79.94, near the upper end of their 52-week range, with a market cap of $14.64 billion and a dividend yield of 3.8%.
• Analysts remain broadly positive on the REIT, with a consensus rating of Moderate Buy and an average price target of $82.94, though recent insider filings show some executives have sold shares.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Regency Centers Corporation (NASDAQ:REG - Free Report) by 23.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,479 shares of the company's stock after acquiring an additional 23,112 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.07% of Regency Centers worth $9,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in REG. Norges Bank acquired a new stake in shares of Regency Centers during the fourth quarter worth about $1,183,667,000. PFA Pension Forsikringsaktieselskab purchased a new stake in Regency Centers in the fourth quarter valued at approximately $56,480,000. Goldman Sachs Group Inc. increased its holdings in Regency Centers by 75.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,806,165 shares of the company's stock worth $124,680,000 after buying an additional 775,609 shares during the period. AQR Capital Management LLC increased its holdings in Regency Centers by 364.9% in the 4th quarter. AQR Capital Management LLC now owns 842,037 shares of the company's stock worth $58,126,000 after buying an additional 660,896 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in Regency Centers during the 3rd quarter worth approximately $47,563,000. Institutional investors and hedge funds own 96.07% of the company's stock.

Regency Centers Stock Up 0.4%

Shares of REG stock opened at $79.94 on Tuesday. The stock has a 50 day moving average of $78.61 and a 200 day moving average of $76.37. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. The stock has a market cap of $14.64 billion, a P/E ratio of 27.57, a P/E/G ratio of 3.38 and a beta of 0.80. Regency Centers Corporation has a twelve month low of $66.86 and a twelve month high of $81.93.

Regency Centers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were issued a dividend of $0.755 per share. This represents a $3.02 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, June 12th. Regency Centers's payout ratio is 104.14%.

Insider Activity

In related news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $79.06, for a total value of $626,708.62. Following the completion of the transaction, the insider directly owned 33,069 shares in the company, valued at $2,614,435.14. The trade was a 19.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Terah L. Devereaux sold 1,240 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $80.14, for a total transaction of $99,373.60. Following the completion of the transaction, the insider owned 17,990 shares of the company's stock, valued at approximately $1,441,718.60. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 283,782 shares of company stock valued at $22,255,898 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on REG shares. Barclays lifted their price objective on shares of Regency Centers from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. Morgan Stanley increased their price objective on shares of Regency Centers from $85.00 to $88.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. UBS Group raised their target price on shares of Regency Centers from $81.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday. Scotiabank boosted their target price on shares of Regency Centers from $76.00 to $82.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 24th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Regency Centers from a "buy" rating to a "hold" rating and set a $85.00 target price for the company. in a research report on Friday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $82.94.

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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