LPL Financial LLC Buys 6,935 Shares of Regency Centers Corporation (NASDAQ:REG)

Key Points

• LPL Financial LLC has increased its stake in Regency Centers Corporation by 5.7%, owning 129,070 shares valued at approximately $9.52 million.
• Regency Centers reported a quarterly earnings per share (EPS) of $1.16, surpassing analysts' expectations of $1.12, with a revenue of $369.85 million.
• The company declared a quarterly dividend of $0.705 per share, translating to an annual yield of 3.9% and a dividend payout ratio of 131.78%.

LPL Financial LLC raised its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 5.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,070 shares of the company's stock after acquiring an additional 6,935 shares during the quarter. LPL Financial LLC owned approximately 0.07% of Regency Centers worth $9,520,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its position in shares of Regency Centers by 3.2% during the first quarter. Envestnet Asset Management Inc. now owns 120,960 shares of the company's stock worth $8,922,000 after acquiring an additional 3,773 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Regency Centers by 14.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,322 shares of the company's stock worth $2,210,000 after purchasing an additional 3,857 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Regency Centers by 7.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,296 shares of the company's stock worth $317,000 after purchasing an additional 283 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Regency Centers by 46.2% in the 1st quarter. Teacher Retirement System of Texas now owns 29,633 shares of the company's stock worth $2,186,000 after purchasing an additional 9,359 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Regency Centers by 43.1% in the 1st quarter. Farther Finance Advisors LLC now owns 1,435 shares of the company's stock worth $106,000 after purchasing an additional 432 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Regency Centers Stock Performance

Shares of REG stock traded down $0.62 during trading hours on Friday, reaching $71.92. The company had a trading volume of 746,743 shares, compared to its average volume of 1,173,176. The business has a fifty day moving average price of $70.97 and a 200-day moving average price of $71.87. Regency Centers Corporation has a one year low of $63.44 and a one year high of $78.18. The firm has a market cap of $13.06 billion, a PE ratio of 33.61, a price-to-earnings-growth ratio of 3.45 and a beta of 1.05. 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 (NASDAQ:REG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.04. The company had revenue of $369.85 million during the quarter, compared to analyst estimates of $366.35 million. Regency Centers had a net margin of 27.00% and a return on equity of 6.05%. The firm's quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.06 earnings per share. Sell-side analysts predict that Regency Centers Corporation will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

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

Insider Transactions at Regency Centers

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the company's stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on REG. Scotiabank lowered 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 report on Monday, May 12th. Mizuho reduced their target price 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. Evercore ISI increased their target price on shares of Regency Centers from $79.00 to $80.00 and gave the company an "in-line" rating in a report on Wednesday, July 30th. Robert W. Baird increased their target price on shares of Regency Centers from $78.00 to $80.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Truist Financial increased their target price on shares of Regency Centers from $78.00 to $79.00 and gave the company a "buy" rating in a report on Monday, May 19th. One 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 company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.