Nuveen LLC Buys New Stake in Regency Centers Corporation (NASDAQ:REG)

Key Points

• Nuveen LLC has acquired a new stake in Regency Centers Corporation, purchasing 2,480,019 shares valued at approximately $182.9 million, which represents about 1.37% ownership.
• The company recently reported earnings per share of $1.16 for the last quarter, surpassing analyst expectations, and noted a revenue increase of 6.6% year-over-year.
• Regency Centers declared a quarterly dividend of $0.705, resulting in a 3.9% dividend yield, though the company's payout ratio is notably high at 131.78%.

Nuveen LLC bought a new stake in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,480,019 shares of the company's stock, valued at approximately $182,926,000. Nuveen LLC owned about 1.37% of Regency Centers as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of REG. JPMorgan Chase & Co. increased its stake in Regency Centers by 3.9% during the 1st quarter. JPMorgan Chase & Co. now owns 11,574,170 shares of the company's stock valued at $853,711,000 after purchasing an additional 432,399 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Regency Centers by 1.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,440,384 shares of the company's stock worth $771,859,000 after acquiring an additional 171,047 shares during the period. Invesco Ltd. raised its holdings in shares of Regency Centers by 9.8% during the first quarter. Invesco Ltd. now owns 5,899,497 shares of the company's stock worth $435,147,000 after purchasing an additional 525,047 shares during the last quarter. Northern Trust Corp lifted its position in Regency Centers by 64.1% during the fourth quarter. Northern Trust Corp now owns 2,781,614 shares of the company's stock valued at $205,645,000 after purchasing an additional 1,086,797 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Regency Centers by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,692,029 shares of the company's stock valued at $199,019,000 after purchasing an additional 20,497 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Regency Centers Stock Performance

REG opened at $71.54 on Tuesday. 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 $12.99 billion, a price-to-earnings ratio of 33.43, a PEG ratio of 3.45 and a beta of 1.05. Regency Centers Corporation has a 52-week low of $63.44 and a 52-week high of $78.18. The firm's fifty day simple moving average is $70.96 and its two-hundred day simple moving average is $71.86.

Regency Centers (NASDAQ:REG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.04. The business had revenue of $369.85 million for the quarter, compared to the consensus estimate of $366.35 million. Regency Centers had a net margin of 27.00% and a return on equity of 6.05%. The company's revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $1.06 earnings per share. Equities analysts anticipate that Regency Centers Corporation will post 4.54 earnings per share for the current fiscal year.

Regency Centers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be paid a $0.705 dividend. This represents a $2.82 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, September 11th. Regency Centers's dividend payout ratio (DPR) is currently 131.78%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on REG shares. Mizuho cut their price target on Regency Centers from $79.00 to $74.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Robert W. Baird increased their price target on Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Scotiabank cut their price target on Regency Centers from $76.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Monday, May 12th. Barclays assumed coverage on Regency Centers in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $77.00 price target on the stock. Finally, Truist Financial raised their price target on shares of Regency Centers from $78.00 to $79.00 and gave the company a "buy" rating in a research report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Regency Centers presently has a consensus rating of "Moderate Buy" and an average price target of $77.92.

Insider Buying and Selling at Regency Centers

In other news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $72.44, for a total value of $301,205.52. Following the transaction, the insider directly owned 33,069 shares of the company's stock, valued at approximately $2,395,518.36. This trade represents a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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.

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