Massachusetts Financial Services Co. MA Reduces Stake in Regency Centers Corporation $REG

Key Points

• Massachusetts Financial Services Co. cut its stake in Regency Centers by 26.5% in Q4, selling 390,102 shares and retaining 1,079,642 shares (~0.59%) valued at about $74.53 million.
• Chairman Martin E. Stein Jr. sold 129,490 shares on March 10 at an average price of $78.33 (a 39.8% reduction), and insiders have sold 177,490 shares over the past three months, indicating meaningful insider selling.
• Regency paid a quarterly dividend of $0.755 (annualized $3.02) for a yield of 3.9%, but the company’s dividend payout ratio is 107.86%, meaning dividends currently exceed reported earnings.

Massachusetts Financial Services Co. MA lowered its holdings in Regency Centers Corporation (NASDAQ:REG - Free Report) by 26.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,079,642 shares of the company's stock after selling 390,102 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.59% of Regency Centers worth $74,528,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Brothers Harriman & Co. raised its position in shares of Regency Centers by 63.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company's stock worth $30,000 after acquiring an additional 157 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Regency Centers in the 2nd quarter worth approximately $31,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of Regency Centers in the 3rd quarter worth approximately $33,000. MUFG Securities EMEA plc bought a new position in shares of Regency Centers in the 2nd quarter worth approximately $34,000. Finally, Financial Consulate Inc. bought a new position in shares of Regency Centers in the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 96.07% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Martin E. Stein, Jr. sold 129,490 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $78.33, for a total transaction of $10,142,951.70. Following the completion of the transaction, the chairman owned 195,892 shares of the company's stock, valued at $15,344,220.36. This trade represents a 39.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 177,490 shares of company stock worth $13,839,932. 1.00% of the stock is owned by company insiders.

Regency Centers Stock Down 0.1%

REG stock opened at $78.33 on Tuesday. Regency Centers Corporation has a twelve month low of $66.86 and a twelve month high of $79.89. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68. The firm has a market cap of $14.34 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90. The business has a 50 day moving average of $76.75 and a 200 day moving average of $72.57.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th were given a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Wednesday, March 11th. Regency Centers's dividend payout ratio (DPR) is 107.86%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on REG. Barclays increased their target price on Regency Centers from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Monday, March 2nd. Scotiabank increased their target price on Regency Centers from $76.00 to $82.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 24th. Jefferies Financial Group set a $79.00 price target on shares of Regency Centers in a research report on Monday, December 15th. Robert W. Baird set a $84.00 price objective on shares of Regency Centers in a research note on Tuesday, February 10th. Finally, Royal Bank Of Canada upgraded shares of Regency Centers to a "sector perform" rating in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $80.14.

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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