Millennium Management LLC Purchases 376,030 Shares of 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 raised its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 860.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419,713 shares of the company's stock after buying an additional 376,030 shares during the period. Millennium Management LLC owned 0.23% of Regency Centers worth $30,958,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its stake in shares of Regency Centers by 42.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 505 shares of the company's stock valued at $37,000 after acquiring an additional 150 shares during the last quarter. State of Wyoming raised its stake in shares of Regency Centers by 11.3% during the fourth quarter. State of Wyoming now owns 1,543 shares of the company's stock valued at $114,000 after acquiring an additional 157 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Regency Centers by 1.7% during the first quarter. Crossmark Global Holdings Inc. now owns 9,627 shares of the company's stock valued at $710,000 after acquiring an additional 160 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of Regency Centers by 4.1% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 4,260 shares of the company's stock valued at $314,000 after acquiring an additional 169 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its stake in shares of Regency Centers by 4.6% during 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 during the last quarter. Institutional investors own 96.07% of the company's stock.

Regency Centers Stock Down 0.8%

Shares of NASDAQ REG traded down $0.59 during trading on Tuesday, hitting $70.38. 1,129,745 shares of the company traded hands, compared to its average volume of 1,085,311. The business's fifty day moving average is $71.47 and its 200 day moving average is $71.61. Regency Centers Corporation has a fifty-two week low of $63.44 and a fifty-two week high of $78.18. The firm has a market capitalization of $12.78 billion, a price-to-earnings ratio of 32.89, a P/E/G ratio of 3.07 and a beta of 1.09. 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 issued its quarterly earnings data 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. Regency Centers had a net margin of 27.00% and a return on equity of 6.05%. The business had revenue of $369.85 million during the quarter, compared to the consensus estimate of $366.35 million. During the same period in the prior year, the firm posted $1.06 EPS. The firm's quarterly revenue was up 6.6% compared to the same quarter last year. Regency Centers has set its FY 2025 guidance at 4.590-4.630 EPS. Equities research analysts predict that Regency Centers Corporation will post 4.54 earnings per share for the current fiscal year.

Regency Centers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th will be given a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, September 11th. Regency Centers's dividend payout ratio is presently 131.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on REG shares. Barclays raised their price target on shares of Regency Centers from $77.00 to $79.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 27th. Evercore ISI lifted their target price on shares of Regency Centers from $76.00 to $77.00 and gave the stock an "in-line" rating in a research note on Monday. Robert W. Baird boosted 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. LADENBURG THALM/SH SH began coverage on shares of Regency Centers in a report on Tuesday, September 9th. They issued a "neutral" rating and a $76.00 target price on the stock. Finally, Mizuho boosted their target price on shares of Regency Centers from $74.00 to $77.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Regency Centers presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.42.

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.