Millennium Management LLC Has $30.96 Million Holdings in Regency Centers Corporation $REG

Key Points

• Millennium Management LLC significantly increased its holdings in Regency Centers Corporation by 860.8% in the first quarter, owning approximately $30.96 million worth of shares.
• Regency Centers reported $1.16 EPS in its latest quarterly earnings, exceeding analysts' expectations of $1.12, with a 6.6% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.705, representing an annualized dividend yield of 3.9%, despite a high dividend payout ratio of 131.78%.

Millennium Management LLC grew its position in Regency Centers Corporation (NASDAQ:REG - Free Report) by 860.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 419,713 shares of the company's stock after purchasing an additional 376,030 shares during the period. Millennium Management LLC owned about 0.23% of Regency Centers worth $30,958,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of REG. Nuveen LLC acquired a new position in Regency Centers in the 1st quarter worth about $182,926,000. Wellington Management Group LLP boosted its stake in shares of Regency Centers by 2,846.0% during the 1st quarter. Wellington Management Group LLP now owns 1,256,228 shares of the company's stock worth $92,659,000 after acquiring an additional 1,213,586 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Regency Centers by 63.5% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,521,633 shares of the company's stock worth $185,996,000 after acquiring an additional 979,126 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Regency Centers by 9.8% during the 1st quarter. Invesco Ltd. now owns 5,899,497 shares of the company's stock worth $435,147,000 after acquiring an additional 525,047 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in Regency Centers during the 1st quarter valued at approximately $32,136,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Regency Centers Price Performance

Shares of REG stock opened at $72.09 on Thursday. The stock has a 50 day moving average of $71.39 and a two-hundred day moving average of $71.75. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. Regency Centers Corporation has a 12 month low of $63.44 and a 12 month high of $78.18. The company has a market capitalization of $13.09 billion, a P/E ratio of 33.69, a P/E/G ratio of 3.13 and a beta of 1.09.

Regency Centers (NASDAQ:REG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.04. Regency Centers had a return on equity of 6.05% and a net margin of 27.00%.The company had revenue of $369.85 million during the quarter, compared to the consensus estimate of $366.35 million. During the same quarter last year, the company earned $1.06 EPS. The company's quarterly revenue was up 6.6% on a year-over-year basis. Regency Centers has set its FY 2025 guidance at 4.590-4.630 EPS. As a group, equities analysts expect that Regency Centers Corporation will post 4.54 EPS for the current year.

Regency Centers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be issued 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 dividend yield of 3.9%. Regency Centers's dividend payout ratio is presently 131.78%.

Wall Street Analyst Weigh In

REG has been the subject of several recent analyst reports. Mizuho increased their target price on Regency Centers from $74.00 to $77.00 and gave the company an "outperform" rating in a research note on Wednesday, August 20th. Robert W. Baird increased their target price on Regency Centers from $78.00 to $80.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Truist Financial increased their target price on Regency Centers from $79.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Evercore ISI increased their target price on Regency Centers from $79.00 to $80.00 and gave the company an "in-line" rating in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company increased their target price on Regency Centers from $79.00 to $81.00 and gave the company an "overweight" rating in a research note on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $78.67.

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.

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