JPMorgan Chase & Co. Has $703.53 Million Position in Regency Centers Corporation $REG

Key Points

• JPMorgan Chase & Co. trimmed its stake in Regency Centers by 0.8% in the fourth quarter, but still held 10.19 million shares worth about $703.5 million, or 5.57% of the company.
• Regency Centers shares were up 2.6% to $79.55, with the stock trading near the upper end of its 52-week range and supported by a market cap of $14.57 billion.
• The REIT announced a quarterly dividend of $0.755 per share, equal to a $3.02 annualized payout and a 3.8% yield, while analysts currently rate the stock a consensus Hold with an average target price of $82.07.

JPMorgan Chase & Co. cut its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,191,587 shares of the company's stock after selling 82,282 shares during the quarter. JPMorgan Chase & Co. owned approximately 5.57% of Regency Centers worth $703,525,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Havemeyer Place LP acquired a new position in shares of Regency Centers in the fourth quarter worth $26,000. Hantz Financial Services Inc. increased its stake in shares of Regency Centers by 388.9% in the fourth quarter. Hantz Financial Services Inc. now owns 440 shares of the company's stock worth $30,000 after acquiring an additional 350 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Regency Centers by 63.1% in the third quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company's stock worth $30,000 after acquiring an additional 157 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new position in shares of Regency Centers in the second quarter worth $31,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Regency Centers in the second quarter worth $34,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Regency Centers Trading Up 2.6%

Regency Centers stock opened at $79.55 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.14 and a quick ratio of 2.14. The company has a market capitalization of $14.57 billion, a price-to-earnings ratio of 27.43, a PEG ratio of 3.29 and a beta of 0.81. Regency Centers Corporation has a one year low of $66.86 and a one year high of $81.66. The company's fifty day moving average price is $78.13 and its two-hundred day moving average price is $74.63.

Regency Centers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be given a dividend of $0.755 per share. This represents a $3.02 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, June 12th. Regency Centers's dividend payout ratio is presently 104.14%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on REG shares. Citigroup upped their price target on shares of Regency Centers from $76.00 to $82.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 5th. Morgan Stanley upped their price target on shares of Regency Centers from $85.00 to $88.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. Wells Fargo & Company upped their price target on shares of Regency Centers from $85.00 to $88.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft downgraded shares of Regency Centers from a "buy" rating to a "hold" rating and set a $85.00 price target on the stock. in a research note on Friday, May 29th. Finally, Robert W. Baird set a $84.00 price target on shares of Regency Centers in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, Regency Centers presently has an average rating of "Hold" and a consensus target price of $82.07.

Insider Buying and Selling at Regency Centers

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 274,615 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $78.40, for a total transaction of $21,529,816.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $626,708.62. Following the transaction, the insider directly owned 33,069 shares in the company, valued at $2,614,435.14. The trade was a 19.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.00% of the company's stock.

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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