Hsbc Holdings PLC Lowers Stock Position in Regency Centers Corporation $REG

Key Points

• HSBC Holdings PLC reduced its position in Regency Centers by 11.5% in the fourth quarter, selling 167,346 shares and ending with 1,290,771 shares worth about $89.1 million.
• Regency Centers continues to attract mostly positive analyst sentiment, with an average rating of “Moderate Buy” and an average price target of $82.62. Recent actions included Jefferies upgrading the stock to “strong-buy” and several firms raising price targets.
• The company paid a quarterly dividend of $0.755 per share, equal to an annualized yield of 3.7%. However, its dividend payout ratio is high at 104.14%, which may be a point of investor attention.

Hsbc Holdings PLC cut its stake in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 11.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,290,771 shares of the company's stock after selling 167,346 shares during the quarter. Hsbc Holdings PLC owned approximately 0.71% of Regency Centers worth $89,123,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Havemeyer Place LP bought a new stake in shares of Regency Centers during the 4th quarter valued at $26,000. Hantz Financial Services Inc. increased its stake in Regency Centers by 388.9% in the 4th quarter. Hantz Financial Services Inc. now owns 440 shares of the company's stock worth $30,000 after buying an additional 350 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Regency Centers by 63.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company's stock worth $30,000 after buying an additional 157 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in Regency Centers during the second quarter valued at about $31,000. Finally, MUFG Securities EMEA plc bought a new stake in Regency Centers during the second quarter valued at about $34,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Regency Centers Price Performance

Shares of Regency Centers stock opened at $80.96 on Friday. The stock has a 50 day moving average of $78.59 and a 200 day moving average of $75.83. Regency Centers Corporation has a 12 month low of $66.86 and a 12 month high of $81.93. The firm has a market cap of $14.82 billion, a PE ratio of 27.92, a PEG ratio of 3.43 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.

Regency Centers Dividend Announcement

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

Insiders Place Their Bets

In other news, Chairman Martin E. Stein, Jr. sold 274,615 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $78.40, for a total value of $21,529,816.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of Regency Centers stock in a transaction that occurred 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 completion of the transaction, the insider owned 33,069 shares of the company's stock, valued at approximately $2,614,435.14. This trade represents a 19.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 283,782 shares of company stock valued at $22,255,898 over the last ninety days. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their price objective on Regency Centers from $85.00 to $88.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. Jefferies Financial Group raised Regency Centers to a "strong-buy" rating in a report on Friday, June 26th. Scotiabank upped their price target on Regency Centers from $76.00 to $82.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 24th. Raymond James Financial reaffirmed an "outperform" rating and set a $88.00 price objective on shares of Regency Centers in a report on Monday, June 29th. Finally, UBS Group lifted their price objective on shares of Regency Centers from $75.00 to $81.00 and gave the company a "neutral" rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $82.62.

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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