Regency Centers Corporation (NASDAQ:REG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in Regency Centers Corporation (NASDAQ:REG - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,034,476 shares of the company's stock after selling 148,188 shares during the period. Principal Financial Group Inc. owned approximately 4.98% of Regency Centers worth $666,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of REG. Norges Bank purchased a new position in Regency Centers in the 4th quarter worth about $1,262,425,000. JPMorgan Chase & Co. increased its position in shares of Regency Centers by 0.5% during the fourth quarter. JPMorgan Chase & Co. now owns 11,141,771 shares of the company's stock worth $823,711,000 after acquiring an additional 51,424 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Regency Centers by 1.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,440,384 shares of the company's stock valued at $771,859,000 after acquiring an additional 171,047 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Regency Centers by 121.2% in the fourth quarter. Invesco Ltd. now owns 5,374,450 shares of the company's stock valued at $397,333,000 after purchasing an additional 2,944,854 shares during the period. Finally, Geode Capital Management LLC grew its stake in Regency Centers by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,568,525 shares of the company's stock worth $336,955,000 after purchasing an additional 86,644 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Regency Centers Stock Performance

Shares of REG stock traded down $0.01 during mid-day trading on Friday, reaching $70.80. The stock had a trading volume of 684,262 shares, compared to its average volume of 1,060,930. Regency Centers Corporation has a 1-year low of $61.34 and a 1-year high of $78.18. The firm has a market cap of $12.85 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 3.45 and a beta of 1.00. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The business's fifty day moving average is $71.72 and its 200-day moving average is $72.14.

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

Regency Centers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a yield of 3.98%. The ex-dividend date was Wednesday, June 11th. Regency Centers's dividend payout ratio is currently 133.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on REG shares. Wall Street Zen raised Regency Centers from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. 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 report on Monday, May 12th. Wells Fargo & Company cut their target price on shares of Regency Centers from $80.00 to $79.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Barclays began coverage on shares of Regency Centers in a research report on Wednesday. They issued an "equal weight" rating and a $77.00 price target for the company. Finally, Truist Financial boosted their price objective on shares of Regency Centers from $78.00 to $79.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Regency Centers currently has a consensus rating of "Moderate Buy" and an average price target of $78.00.

Insider Buying and Selling at Regency Centers

In other news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the business'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 completion of the transaction, the insider owned 33,069 shares of the company's stock, valued at $2,395,518.36. The trade was a 11.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.