New Age Alpha Advisors LLC Has $995,000 Stock Position 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 lessened its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 65.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wayfinding Financial LLC purchased a new stake in shares of Regency Centers during the first quarter worth $25,000. Heck Capital Advisors LLC purchased a new stake in shares of Regency Centers during the fourth quarter worth $26,000. TD Waterhouse Canada Inc. grew its holdings in shares of Regency Centers by 48,700.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company's stock worth $36,000 after buying an additional 487 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new stake in shares of Regency Centers during the fourth quarter worth $39,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of Regency Centers during the first quarter worth $38,000. Hedge funds and other institutional investors own 96.07% of the company's stock.

Wall Street Analysts Forecast Growth

REG has been the topic of a number of recent analyst reports. 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 target price on the stock. Evercore ISI increased 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. Truist Financial raised their target price on shares of Regency Centers from $78.00 to $79.00 and gave the company a "buy" rating in a report on Monday, May 19th. Scotiabank dropped their price target on shares of Regency Centers from $76.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. Finally, Mizuho dropped their price target on shares of Regency Centers from $79.00 to $74.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. One 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 stock. Based on data from MarketBeat.com, Regency Centers has an average rating of "Moderate Buy" and a consensus target price of $77.92.

Regency Centers Stock Down 0.3%

Shares of REG traded down $0.23 during midday trading on Tuesday, reaching $71.31. 236,218 shares of the stock were exchanged, compared to its average volume of 1,095,967. Regency Centers Corporation has a 12-month low of $63.44 and a 12-month high of $78.18. The firm has a 50 day simple moving average of $70.96 and a 200-day simple moving average of $71.86. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.72. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 33.30, a P/E/G ratio of 3.45 and a beta of 1.05.

Regency Centers (NASDAQ:REG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.04. The business 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%. The firm's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 EPS. Research analysts forecast that Regency Centers Corporation will post 4.54 EPS for the current year.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be issued a dividend of $0.705 per share. 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 4.0%. Regency Centers's dividend payout ratio is currently 131.78%.

Insider Activity at Regency Centers

In other Regency Centers news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the firm's stock in a transaction that occurred 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 sale, the insider owned 33,069 shares of the company's stock, valued at $2,395,518.36. This trade represents a 11.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company's stock.

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.