OVERSEA CHINESE BANKING Corp Ltd Sells 29,322 Shares of Regency Centers Corporation (NASDAQ:REG)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd sold 29,322 shares of Regency Centers, reducing its holdings by 25.9%, bringing its total to 83,886 shares valued at approximately $6.19 million.
• Institutional investors collectively own 96.07% of Regency Centers stock, with notable increases in holdings from firms such as Invesco Ltd. and Northern Trust Corp during the last quarter.
• Regency Centers recently declared a quarterly dividend of $0.705, resulting in an annualized yield of 4.0% despite a payout ratio of 131.78%.

OVERSEA CHINESE BANKING Corp Ltd cut its position in Regency Centers Corporation (NASDAQ:REG - Free Report) by 25.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 83,886 shares of the company's stock after selling 29,322 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Regency Centers were worth $6,187,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in Regency Centers by 0.6% in the 4th quarter. LPL Financial LLC now owns 122,135 shares of the company's stock worth $9,029,000 after buying an additional 781 shares during the period. Wellington Management Group LLP increased its holdings in Regency Centers by 185.9% in the 4th quarter. Wellington Management Group LLP now owns 42,642 shares of the company's stock worth $3,153,000 after buying an additional 27,725 shares during the period. Geode Capital Management LLC increased its holdings in Regency Centers by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,568,525 shares of the company's stock worth $336,955,000 after buying an additional 86,644 shares during the period. Headlands Technologies LLC acquired a new position in Regency Centers in the 4th quarter worth approximately $558,000. Finally, ExodusPoint Capital Management LP acquired a new position in Regency Centers in the 4th quarter worth approximately $19,804,000. 96.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on REG. Scotiabank decreased their target price on shares of Regency Centers from $76.00 to $75.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th. 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 for the company. Wall Street Zen lowered shares of Regency Centers from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Truist Financial upped their price objective 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. Finally, Evercore ISI increased their target price on shares of Regency Centers from $79.00 to $80.00 and gave the stock an "in-line" rating in a research note on Wednesday, July 30th. 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. Based on data from MarketBeat, Regency Centers presently has an average rating of "Moderate Buy" and a consensus price target of $77.92.

Regency Centers Stock Performance

Shares of NASDAQ:REG traded up $1.70 during trading on Monday, hitting $72.18. 1,161,760 shares of the stock were exchanged, compared to its average volume of 1,124,708. The company's fifty day simple moving average is $70.88 and its 200-day simple moving average is $71.82. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.13. The company has a market capitalization of $13.10 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 3.38 and a beta of 1.05. Regency Centers Corporation has a 1-year low of $63.44 and a 1-year high of $78.18.

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, beating the consensus estimate of $1.12 by $0.04. Regency Centers had a return on equity of 6.05% and a net margin of 27.00%. The firm had revenue of $369.85 million during the quarter, compared to the consensus estimate of $366.35 million. During the same quarter in the previous year, the company posted $1.06 EPS. The business's revenue for the quarter was up 6.6% compared to the same quarter last year. Sell-side analysts expect that Regency Centers Corporation will post 4.54 EPS for the current fiscal year.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th were paid a dividend of $0.705 per share. The ex-dividend date was Wednesday, June 11th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.9%. Regency Centers's dividend payout ratio (DPR) is 131.78%.

Insider Buying and Selling at Regency Centers

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 transaction of $301,205.52. Following the transaction, the insider owned 33,069 shares in the company, valued at $2,395,518.36. This trade represents a 11.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company's stock.

Regency Centers 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.