LPL Financial LLC Acquires 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 position in Regency Centers Corporation (NASDAQ:REG - Free Report) by 5.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 129,070 shares of the company's stock after buying an additional 6,935 shares during the quarter. LPL Financial LLC owned about 0.07% of Regency Centers worth $9,520,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Kapitalo Investimentos Ltda acquired a new stake in Regency Centers during the 1st quarter worth approximately $221,000. TD Asset Management Inc increased its position in Regency Centers by 1.1% during the 1st quarter. TD Asset Management Inc now owns 45,054 shares of the company's stock worth $3,323,000 after purchasing an additional 510 shares in the last quarter. Assetmark Inc. increased its position in Regency Centers by 5.4% during the 1st quarter. Assetmark Inc. now owns 19,771 shares of the company's stock worth $1,458,000 after purchasing an additional 1,012 shares in the last quarter. Cetera Investment Advisers grew its position in Regency Centers by 5.6% in the first quarter. Cetera Investment Advisers now owns 5,424 shares of the company's stock valued at $400,000 after acquiring an additional 288 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in Regency Centers by 4.6% in the first quarter. Proficio Capital Partners LLC now owns 3,847 shares of the company's stock valued at $284,000 after acquiring an additional 170 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Regency Centers news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $72.44, for a total transaction of $301,205.52. Following the completion of the sale, the insider directly owned 33,069 shares in the company, valued at approximately $2,395,518.36. This trade represents a 11.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Regency Centers Stock Performance

Shares of NASDAQ REG traded down $0.59 during midday trading on Wednesday, reaching $71.29. 499,190 shares of the company traded hands, compared to its average volume of 1,098,489. Regency Centers Corporation has a 52 week low of $63.44 and a 52 week high of $78.18. The stock has a 50-day moving average price of $70.97 and a 200 day moving average price of $71.86. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $12.94 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 3.43 and a beta of 1.05.

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

Regency Centers Dividend Announcement

The business 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 $0.705 dividend. 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 4.0%. Regency Centers's dividend payout ratio (DPR) is currently 131.78%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on REG. Scotiabank lowered their price objective on shares of Regency Centers from $76.00 to $75.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Mizuho lowered their price objective on shares of Regency Centers from $79.00 to $74.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. Truist Financial increased their price objective on shares of Regency Centers from $78.00 to $79.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Barclays began coverage on shares of Regency Centers in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $77.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Regency Centers from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $77.92.

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.