New Age Alpha Advisors LLC Decreases Stake in Regency Centers Corporation (NASDAQ:REG)

Key Points

• New Age Alpha Advisors LLC has decreased its stake in Regency Centers Corporation by 65.8% in the first quarter, reducing ownership to 13,489 shares.
• Regency Centers reported quarterly earnings of $1.16 per share, exceeding analysts' expectations of $1.12, with revenues of $369.85 million.
• The company announced a quarterly dividend of $0.705, yielding 3.9%, with a high dividend payout ratio of 131.78%.

New Age Alpha Advisors LLC reduced its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 65.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,489 shares of the company's stock after selling 25,919 shares during the quarter. New Age Alpha Advisors LLC's holdings in Regency Centers were worth $995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of REG. Wayfinding Financial LLC purchased a new position in shares of Regency Centers in the 1st quarter valued at approximately $25,000. Heck Capital Advisors LLC purchased a new position in Regency Centers during the 4th quarter worth approximately $26,000. TD Waterhouse Canada Inc. raised its position in Regency Centers by 48,700.0% during the 4th quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company's stock worth $36,000 after buying an additional 487 shares during the last quarter. Sentry Investment Management LLC purchased a new position in Regency Centers during the 1st quarter worth approximately $38,000. Finally, Canada Post Corp Registered Pension Plan purchased a new position in Regency Centers during the 4th quarter worth approximately $39,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Regency Centers Price Performance

Regency Centers stock opened at $72.54 on Friday. The company's fifty day moving average price is $70.97 and its 200 day moving average price is $71.86. Regency Centers Corporation has a 1 year low of $63.44 and a 1 year high of $78.18. The stock has a market capitalization of $13.17 billion, a P/E ratio of 33.90, a P/E/G ratio of 3.51 and a beta of 1.05. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.13.

Regency Centers (NASDAQ:REG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.16 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $369.85 million for the quarter, compared to analysts' expectations of $366.35 million. During the same quarter last year, the company earned $1.06 EPS. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Regency Centers Corporation will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

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 issued a $0.705 dividend. The ex-dividend date 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 (DPR) is presently 131.78%.

Analyst Ratings Changes

A number of equities analysts have issued reports on REG shares. Mizuho reduced their price target 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. Evercore ISI raised their price target on shares of Regency Centers from $79.00 to $80.00 and gave the stock an "in-line" rating in a research report on Wednesday, July 30th. Barclays started coverage on shares of Regency Centers in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $77.00 price target for the company. Robert W. Baird raised their price target on shares of Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Finally, Scotiabank reduced their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $77.92.

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 on Wednesday, May 21st. The stock was sold at an average price of $72.44, for a total value of $301,205.52. Following the transaction, the insider 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company's stock.

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.

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