Pacific Heights Asset Management LLC Reduces Position in Regency Centers Corporation (NASDAQ:REG)

Pacific Heights Asset Management LLC trimmed its position in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 40.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,000 shares of the company's stock after selling 100,000 shares during the period. Pacific Heights Asset Management LLC owned 0.08% of Regency Centers worth $11,064,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE increased its holdings in shares of Regency Centers by 4.3% in the 4th quarter. US Bancorp DE now owns 8,383 shares of the company's stock worth $620,000 after buying an additional 347 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Regency Centers by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,328,510 shares of the company's stock valued at $172,147,000 after acquiring an additional 15,975 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Regency Centers by 2.4% during the fourth quarter. Assetmark Inc. now owns 18,759 shares of the company's stock worth $1,387,000 after buying an additional 431 shares during the period. M&T Bank Corp raised its stake in shares of Regency Centers by 3.6% during the 4th quarter. M&T Bank Corp now owns 28,803 shares of the company's stock valued at $2,130,000 after buying an additional 1,007 shares during the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in shares of Regency Centers by 9.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,677 shares of the company's stock valued at $272,000 after purchasing an additional 326 shares during the period. 96.07% of the stock is currently owned by institutional investors.

Regency Centers Price Performance

Shares of Regency Centers stock traded down $0.87 on Monday, hitting $69.92. 1,095,582 shares of the company were exchanged, compared to its average volume of 1,062,712. The stock has a market capitalization of $12.69 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 3.45 and a beta of 1.00. The company has a 50-day moving average price of $71.71 and a 200 day moving average price of $72.09. Regency Centers Corporation has a 1-year low of $61.34 and a 1-year high of $78.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.70.

Regency Centers (NASDAQ:REG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $364.64 million. During the same period in the previous year, the firm posted $1.08 EPS. As a group, sell-side analysts predict that Regency Centers Corporation will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th were paid a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Wednesday, June 11th. Regency Centers's dividend payout ratio (DPR) is 133.02%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on REG shares. Wall Street Zen lowered Regency Centers from a "hold" rating to a "sell" rating in a research note on Saturday. Wells Fargo & Company cut their price target on Regency Centers from $80.00 to $79.00 and set an "overweight" rating for the company in a research note on Wednesday, March 26th. Truist Financial lifted their price target on Regency Centers from $78.00 to $79.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Scotiabank dropped their target price on shares of 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, Barclays began coverage on Regency Centers in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $77.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $78.00.

Insider Activity

In other news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were 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 approximately $2,395,518.36. The trade was a 11.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.