Legal & General Group Plc Has $117.70 Million Holdings in Regency Centers Corporation $REG

Key Points

• Legal & General Group Plc increased its stake in Regency Centers by 2.8% in the fourth quarter, bringing its holding to 1.705 million shares valued at about $117.7 million.
• Regency Centers declared a quarterly dividend of $0.755 per share, or $3.02 annualized, implying a 3.8% yield. The payout is scheduled for July 2, with the ex-dividend date on June 12.
• The stock traded around $78.52, and analysts currently have a consensus rating of Hold with an average price target of $81.93. Recent insider selling included a large sale by Chairman Martin E. Stein, Jr. and other executives over the past 90 days.

Legal & General Group Plc lifted its position in Regency Centers Corporation (NASDAQ:REG - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,705,024 shares of the company's stock after purchasing an additional 46,438 shares during the quarter. Legal & General Group Plc owned 0.93% of Regency Centers worth $117,698,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Pensionfund Sabic acquired a new stake in Regency Centers during the 4th quarter valued at $1,339,000. Azzad Asset Management Inc. ADV increased its holdings in Regency Centers by 68.6% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 53,562 shares of the company's stock valued at $3,697,000 after purchasing an additional 21,799 shares in the last quarter. Centersquare Investment Management LLC increased its holdings in Regency Centers by 5.7% during the 3rd quarter. Centersquare Investment Management LLC now owns 351,963 shares of the company's stock valued at $25,658,000 after purchasing an additional 18,997 shares in the last quarter. M&T Bank Corp increased its holdings in Regency Centers by 168.6% during the 4th quarter. M&T Bank Corp now owns 25,931 shares of the company's stock valued at $1,791,000 after purchasing an additional 16,277 shares in the last quarter. Finally, Korea Investment CORP increased its holdings in Regency Centers by 61.9% during the 3rd quarter. Korea Investment CORP now owns 119,613 shares of the company's stock valued at $8,720,000 after purchasing an additional 45,734 shares in the last quarter. Institutional investors own 96.07% of the company's stock.

Regency Centers Stock Down 0.5%

Shares of NASDAQ REG opened at $78.52 on Friday. The firm has a market capitalization of $14.38 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 3.35 and a beta of 0.82. 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 1 year low of $66.86 and a 1 year high of $81.66. The firm's 50-day moving average is $77.79 and its 200-day moving average is $74.21.

Regency Centers Announces Dividend

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

Insiders Place Their Bets

In related news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of Regency Centers 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 completion of the sale, the insider directly owned 33,069 shares of the company's stock, valued at $2,614,435.14. The trade was a 19.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Martin E. Stein, Jr. sold 274,615 shares of Regency Centers stock in a transaction on Monday, May 4th. The stock was sold at an average price of $78.40, for a total value of $21,529,816.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 450,032 shares of company stock valued at $35,233,456. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

REG has been the subject of a number of recent analyst reports. Robert W. Baird set a $84.00 price target on Regency Centers in a report on Tuesday, February 10th. Truist Financial raised their price target on Regency Centers from $77.00 to $84.00 and gave the company a "buy" rating in a report on Monday, March 2nd. UBS Group raised their price target on Regency Centers from $75.00 to $81.00 and gave the company a "neutral" rating in a report on Monday, May 18th. Citigroup raised their price target on Regency Centers from $76.00 to $82.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. Finally, Barclays raised their price target on Regency Centers from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Regency Centers currently has a consensus rating of "Hold" and an average target price of $81.93.

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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