First Trust Advisors LP Sells 52,497 Shares of Regency Centers Corporation $REG

Key Points

• First Trust Advisors reduced its Regency Centers stake by 8.7%, selling 52,497 shares and retaining 547,897 shares worth approximately $41.5 million. Institutional investors collectively own 96.07% of REG.
• Regency Centers opened at $82.34, near its 52-week high, and recently declared a quarterly dividend of $0.755, representing a 3.7% annualized yield.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $83.06, although insiders have sold 283,782 shares worth about $22.3 million over the past 90 days.

First Trust Advisors LP decreased its holdings in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 547,897 shares of the company's stock after selling 52,497 shares during the period. First Trust Advisors LP owned approximately 0.30% of Regency Centers worth $41,454,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in REG. Westpac Banking Corp increased its position in shares of Regency Centers by 16.6% during the first quarter. Westpac Banking Corp now owns 60,867 shares of the company's stock worth $4,605,000 after acquiring an additional 8,666 shares in the last quarter. ABN Amro Investment Solutions lifted its position in Regency Centers by 55.0% in the 1st quarter. ABN Amro Investment Solutions now owns 10,315 shares of the company's stock valued at $780,000 after acquiring an additional 3,661 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Regency Centers by 18.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 26,793 shares of the company's stock valued at $2,027,000 after purchasing an additional 4,246 shares during the last quarter. Oslo Pensjonsforsikring AS acquired a new position in Regency Centers during the 1st quarter valued at about $268,000. Finally, Dimensional Fund Advisors LP increased its holdings in Regency Centers by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,667,906 shares of the company's stock worth $201,849,000 after purchasing an additional 67,213 shares in the last quarter. 96.07% of the stock is owned by institutional investors.

Regency Centers Stock Up 0.2%

REG stock opened at $82.34 on Tuesday. The stock has a market cap of $15.08 billion, a P/E ratio of 28.39, a P/E/G ratio of 3.48 and a beta of 0.80. 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's fifty day simple moving average is $79.45 and its two-hundred day simple moving average is $77.26. Regency Centers Corporation has a 1-year low of $66.86 and a 1-year high of $83.66.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were given a $0.755 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $3.02 annualized dividend and a yield of 3.7%. Regency Centers's payout ratio is currently 104.14%.

Insiders Place Their Bets

In other Regency Centers news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $79.06, for a total value of $626,708.62. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terah L. Devereaux sold 1,240 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 17,990 shares of the company's stock, valued at $1,441,718.60. This represents a 6.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 283,782 shares of company stock valued at $22,255,898. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on REG shares. BTIG Research restated a "buy" rating and issued a $85.00 target price on shares of Regency Centers in a report on Friday, June 12th. Jefferies Financial Group raised Regency Centers to a "strong-buy" rating in a research report on Friday, June 26th. Deutsche Bank Aktiengesellschaft cut Regency Centers from a "buy" rating to a "hold" rating and set a $85.00 price objective on the stock. in a research note on Friday, May 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Regency Centers in a report on Friday, May 29th. Finally, Wells Fargo & Company upped their target price on shares of Regency Centers from $88.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.06.

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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