Invesco Ltd. Grows Position in Regency Centers Corporation (NASDAQ:REG)

Key Points

• Invesco Ltd. has increased its holdings in Regency Centers Corporation by 9.8%, now owning approximately 3.25% of the company, valued at around $435 million.
• Several large investors, including Envestnet Asset Management and Teacher Retirement System of Texas, have also increased their stakes in Regency Centers during the first quarter.
• Analyst ratings for Regency Centers are mostly positive, with a consensus rating of "Moderate Buy" and an average price target of approximately $77.92.

Invesco Ltd. increased its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 9.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 5,899,497 shares of the company's stock after buying an additional 525,047 shares during the quarter. Invesco Ltd. owned 3.25% of Regency Centers worth $435,147,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in REG. Wayfinding Financial LLC purchased a new stake in Regency Centers during the first quarter valued at about $25,000. Heck Capital Advisors LLC purchased a new stake in Regency Centers during the fourth quarter valued at about $26,000. TD Waterhouse Canada Inc. lifted its holdings in shares of Regency Centers by 48,700.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company's stock worth $36,000 after buying an additional 487 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Regency Centers in the fourth quarter worth about $39,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of Regency Centers in the first quarter worth about $38,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Regency Centers news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $72.44, for a total transaction of $301,205.52. Following the transaction, the insider directly owned 33,069 shares in the company, valued at $2,395,518.36. This trade represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Regency Centers Price Performance

NASDAQ REG traded up $0.14 on Wednesday, reaching $72.02. 1,592,569 shares of the company's stock traded hands, compared to its average volume of 1,193,557. Regency Centers Corporation has a 12 month low of $63.44 and a 12 month high of $78.18. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a 50-day simple moving average of $70.97 and a 200 day simple moving average of $71.86. The stock has a market cap of $13.08 billion, a PE ratio of 16.08, a P/E/G ratio of 3.45 and a beta of 1.05.

Regency Centers (NASDAQ:REG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.04. Regency Centers had a net margin of 27.00% and a return on equity of 6.05%. The business had revenue of $369.85 million for the quarter, compared to analysts' expectations of $366.35 million. During the same period last year, the business earned $1.06 earnings per share. The business's quarterly revenue was up 6.6% on a year-over-year basis. As a group, research analysts predict that Regency Centers Corporation will post 4.54 earnings per share for the current year.

Regency Centers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, September 11th. Regency Centers's dividend payout ratio (DPR) is presently 131.78%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on REG. Robert W. Baird increased their price target on shares of Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Truist Financial increased their price target on shares of Regency Centers from $78.00 to $79.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Barclays began coverage on shares of Regency Centers in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $77.00 price target on the stock. Mizuho lowered their price target on shares of Regency Centers from $79.00 to $74.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. Finally, Scotiabank lowered their price target on shares of Regency Centers from $76.00 to $75.00 and set a "sector perform" rating on the stock in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $77.92.

Regency Centers Company Profile

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers.