Geode Capital Management LLC Buys 67,739 Shares of Regency Centers Corporation $REG

Key Points

• Geode Capital Management increased its stake in Regency Centers by 1.4% in the fourth quarter, buying 67,739 shares and bringing its total holding to 4,915,089 shares valued at about $338.1 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors controlling 96.07% of Regency Centers’ shares. Several other funds also boosted their positions during the quarter.
• Analysts remain cautious overall: the stock has a consensus rating of Hold with an average price target of $82.07, while the company also recently declared a quarterly dividend of $0.755 per share, implying a 4.0% annualized yield.

Geode Capital Management LLC lifted its holdings in Regency Centers Corporation (NASDAQ:REG - Free Report) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,915,089 shares of the company's stock after purchasing an additional 67,739 shares during the quarter. Geode Capital Management LLC owned 2.69% of Regency Centers worth $338,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Pensionfund Sabic purchased a new stake in Regency Centers during the fourth quarter valued at $1,339,000. Azzad Asset Management Inc. ADV increased its position in Regency Centers by 68.6% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 53,562 shares of the company's stock valued at $3,697,000 after acquiring an additional 21,799 shares during the last quarter. Centersquare Investment Management LLC increased its position in Regency Centers by 5.7% during the third quarter. Centersquare Investment Management LLC now owns 351,963 shares of the company's stock valued at $25,658,000 after acquiring an additional 18,997 shares during the last quarter. M&T Bank Corp increased its position in Regency Centers by 168.6% during the fourth quarter. M&T Bank Corp now owns 25,931 shares of the company's stock valued at $1,791,000 after acquiring an additional 16,277 shares during the last quarter. Finally, Korea Investment CORP increased its position in Regency Centers by 61.9% during the third quarter. Korea Investment CORP now owns 119,613 shares of the company's stock valued at $8,720,000 after acquiring an additional 45,734 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Evercore set a $80.00 price objective on Regency Centers in a research report on Friday, May 1st. Citigroup upped their price objective on Regency Centers from $76.00 to $82.00 and gave the company a "neutral" rating in a research report on Tuesday, May 5th. Scotiabank upped their price objective on Regency Centers from $76.00 to $82.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 24th. Morgan Stanley upped their price target on Regency Centers from $85.00 to $88.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. Finally, Wells Fargo & Company upped their price target on Regency Centers from $85.00 to $88.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, Regency Centers currently has an average rating of "Hold" and a consensus price target of $82.07.

Insider Buying and Selling

In related news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $79.06, for a total transaction of $626,708.62. Following the completion of the transaction, the insider directly owned 33,069 shares of the company's stock, valued at approximately $2,614,435.14. This represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Martin E. Stein, Jr. sold 274,615 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $78.40, for a total value of $21,529,816.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 450,032 shares of company stock valued at $35,233,456. 1.00% of the stock is owned by corporate insiders.

Regency Centers Stock Performance

NASDAQ REG opened at $76.14 on Tuesday. The firm has a market cap of $13.94 billion, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 3.28 and a beta of 0.81. 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 business has a 50-day moving average price of $77.79 and a 200-day moving average price of $74.30. Regency Centers Corporation has a twelve month low of $66.86 and a twelve month high of $81.66.

Regency Centers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Friday, June 12th will be paid a dividend of $0.755 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.02 dividend on an annualized basis and a yield of 4.0%. Regency Centers's dividend payout ratio is presently 104.14%.

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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