OVERSEA CHINESE BANKING Corp Ltd Lowers Stock Holdings in Regency Centers Corporation (NASDAQ:REG)

OVERSEA CHINESE BANKING Corp Ltd trimmed its position in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 25.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,886 shares of the company's stock after selling 29,322 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Regency Centers were worth $6,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of REG. Wayfinding Financial LLC bought a new position in Regency Centers during the first quarter valued at $25,000. Heck Capital Advisors LLC bought a new position in shares of Regency Centers in the fourth quarter worth $26,000. TD Waterhouse Canada Inc. boosted its holdings in shares of Regency Centers by 48,700.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company's stock worth $36,000 after acquiring an additional 487 shares during the period. Sentry Investment Management LLC bought a new position in shares of Regency Centers in the first quarter worth $38,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Regency Centers in the fourth quarter worth $39,000. 96.07% of the stock is owned by institutional investors.

Regency Centers Price Performance

NASDAQ REG traded up $0.81 during trading hours on Wednesday, reaching $69.43. 1,024,809 shares of the stock traded hands, compared to its average volume of 1,067,557. The stock has a 50 day simple moving average of $71.26 and a two-hundred day simple moving average of $71.86. Regency Centers Corporation has a 1 year low of $63.44 and a 1 year high of $78.18. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $12.60 billion, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 3.34 and a beta of 1.00.

Regency Centers (NASDAQ:REG - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.01. Regency Centers had a return on equity of 5.98% and a net margin of 27.21%. The business had revenue of $370.35 million for the quarter, compared to the consensus estimate of $364.64 million. During the same quarter last year, the business posted $1.08 earnings per share. On average, analysts predict that Regency Centers Corporation will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th were issued a $0.705 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $2.82 annualized dividend and a dividend yield of 4.06%. Regency Centers's dividend payout ratio is currently 133.02%.

Analyst Upgrades and Downgrades

REG has been the subject of a number of analyst reports. Barclays initiated coverage on Regency Centers in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $77.00 price target for the company. Wells Fargo & Company lowered their price objective on Regency Centers from $80.00 to $79.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Wall Street Zen downgraded Regency Centers from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Scotiabank lowered their price objective 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. Finally, Truist Financial increased their price objective on Regency Centers from $78.00 to $79.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $78.00.

Insider Activity at Regency Centers

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the firm's stock in a transaction dated 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 directly owned 33,069 shares of the company's stock, valued at $2,395,518.36. This trade represents a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.