Hsbc Holdings PLC Sells 167,346 Shares of Regency Centers Corporation $REG

Key Points

• HSBC Holdings PLC cut its Regency Centers stake by 11.5% in the fourth quarter, selling 167,346 shares and leaving it with 1,290,771 shares valued at about $89.1 million.
• Institutional ownership remains very high, with investors like Norges Bank, State Street, Geode Capital, and Invesco also adjusting positions; institutions now own 96.07% of Regency Centers.
• Regency Centers recently declared a quarterly dividend of $0.755 per share, equal to an annualized yield of 3.9%, while analysts currently have a consensus “Hold” rating and an average price target of $82.27.

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

Several other institutional investors and hedge funds also recently made changes to their positions in REG. Norges Bank bought a new stake in Regency Centers in the 4th quarter valued at about $1,183,667,000. State Street Corp lifted its holdings in Regency Centers by 1.4% during the fourth quarter. State Street Corp now owns 12,572,876 shares of the company's stock valued at $877,261,000 after purchasing an additional 168,884 shares during the last quarter. Geode Capital Management LLC boosted its position in Regency Centers by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 4,915,089 shares of the company's stock worth $338,110,000 after purchasing an additional 67,739 shares during the period. Invesco Ltd. boosted its position in Regency Centers by 7.2% during the fourth quarter. Invesco Ltd. now owns 4,261,437 shares of the company's stock worth $294,167,000 after purchasing an additional 287,397 shares during the period. Finally, Boston Partners increased its stake in shares of Regency Centers by 2.1% in the third quarter. Boston Partners now owns 3,540,137 shares of the company's stock worth $258,062,000 after purchasing an additional 72,584 shares in the last quarter. Institutional investors own 96.07% of the company's stock.

Insider Activity

In related news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the stock in a transaction 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 sale, the insider owned 33,069 shares in the company, valued at approximately $2,614,435.14. This trade represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Terah L. Devereaux sold 1,240 shares of Regency Centers stock in a transaction on Friday, June 12th. The shares were sold at an average price of $80.14, for a total value of $99,373.60. Following the sale, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold 283,782 shares of company stock worth $22,255,898 in the last three months. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

REG has been the topic of a number of recent research reports. Morgan Stanley upped their price target on shares of Regency Centers from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. BTIG Research reiterated a "buy" rating and issued a $85.00 price objective on shares of Regency Centers in a research note on Friday, June 12th. UBS Group boosted their target price on shares of Regency Centers from $75.00 to $81.00 and gave the company a "neutral" rating in a report on Monday, May 18th. Scotiabank increased their target price on Regency Centers from $76.00 to $82.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 24th. Finally, Evercore set a $80.00 price target on Regency Centers in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $82.27.

Regency Centers Stock Performance

Shares of Regency Centers stock opened at $76.88 on Monday. The company's 50-day moving average price is $78.49 and its 200-day moving average price is $75.07. 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 Corporation has a 12-month low of $66.86 and a 12-month high of $81.66. The company has a market cap of $14.08 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 3.26 and a beta of 0.81.

Regency Centers Announces Dividend

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

About Regency Centers

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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