JPMorgan Chase & Co. Grows Position in Regency Centers Corporation (NASDAQ:REG)

Key Points

• JPMorgan Chase & Co. has increased its stake in Regency Centers Corporation by 3.9% during the first quarter, now holding approximately 6.38% of the company's shares valued at $853.7 million.
• Regency Centers recently declared a quarterly dividend of $0.705 per share, which translates to an annualized dividend of $2.82 and a yield of 3.9%.
• The stock has an average rating of "Moderate Buy" from analysts, with a consensus price target of $77.92 based on various brokerages' evaluations.

JPMorgan Chase & Co. increased its holdings in Regency Centers Corporation (NASDAQ:REG - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,574,170 shares of the company's stock after acquiring an additional 432,399 shares during the quarter. JPMorgan Chase & Co. owned approximately 6.38% of Regency Centers worth $853,711,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in REG. Wayfinding Financial LLC acquired a new position in shares of Regency Centers during the first quarter valued at about $25,000. Heck Capital Advisors LLC acquired a new position in Regency Centers in the 4th quarter worth approximately $26,000. TD Waterhouse Canada Inc. increased its holdings in Regency Centers by 48,700.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company's stock worth $36,000 after buying an additional 487 shares during the period. Sentry Investment Management LLC acquired a new position in Regency Centers in the 1st quarter worth approximately $38,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Regency Centers in the 4th quarter worth approximately $39,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on REG. 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. Truist Financial raised their price objective on shares of Regency Centers from $78.00 to $79.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Evercore ISI raised their price objective on shares of Regency Centers from $79.00 to $80.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 30th. Mizuho dropped their price objective on shares of Regency Centers from $79.00 to $74.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. Finally, Scotiabank dropped their price objective on shares of Regency Centers from $76.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $77.92.

Regency Centers Stock Down 0.9%

Regency Centers stock opened at $71.92 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market capitalization of $13.06 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 3.45 and a beta of 1.05. Regency Centers Corporation has a fifty-two week low of $63.44 and a fifty-two week high of $78.18. The stock's fifty day moving average is $70.97 and its two-hundred day moving average is $71.87.

Regency Centers (NASDAQ:REG - Get Free Report) last posted its quarterly earnings data 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 return on equity of 6.05% and a net margin of 27.00%. The business had revenue of $369.85 million for the quarter, compared to analyst estimates of $366.35 million. During the same quarter last year, the company earned $1.06 earnings per share. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts predict that Regency Centers Corporation will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

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

Insider Activity at Regency Centers

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

About Regency Centers

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.

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