JPMorgan Chase & Co. Buys 432,399 Shares of 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. lifted its position in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 3.9% in the 1st quarter, according to its most recent 13F filing with the 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 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wayfinding Financial LLC bought a new position in Regency Centers in the 1st quarter worth about $25,000. Heck Capital Advisors LLC bought a new stake in shares of Regency Centers during the 4th quarter valued at about $26,000. TD Waterhouse Canada Inc. boosted its position in shares of Regency Centers by 48,700.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company's stock valued at $36,000 after acquiring an additional 487 shares during the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in shares of Regency Centers during the 4th quarter valued at about $39,000. Finally, Sentry Investment Management LLC bought a new stake in shares of Regency Centers during the 1st quarter valued at about $38,000. Institutional investors own 96.07% of the company's stock.

Insider Activity

In other news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was 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 of the company's stock, valued at $2,395,518.36. This represents a 11.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Regency Centers Stock Up 0.1%

Shares of NASDAQ REG traded up $0.06 during mid-day trading on Friday, hitting $71.17. 383,116 shares of the stock traded hands, compared to its average volume of 1,099,413. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.13. Regency Centers Corporation has a 52 week low of $63.44 and a 52 week high of $78.18. The company has a market cap of $12.92 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 3.45 and a beta of 1.05. The stock has a fifty day moving average price of $70.97 and a 200-day moving average price of $71.85.

Regency Centers (NASDAQ:REG - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.12 by $0.04. The business had revenue of $369.85 million for the quarter, compared to the consensus estimate of $366.35 million. Regency Centers had a return on equity of 6.05% and a net margin of 27.00%. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 earnings per share. Research analysts anticipate that Regency Centers Corporation will post 4.54 EPS for the current year.

Regency Centers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be issued a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Thursday, September 11th. Regency Centers's dividend payout ratio is presently 131.78%.

Wall Street Analyst Weigh In

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

Regency Centers 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.