Principal Financial Group Inc. Sells 148,188 Shares of Regency Centers Corporation (NASDAQ:REG)

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

Other hedge funds and other institutional investors have also modified their holdings of the company. Heck Capital Advisors LLC acquired a new stake in shares of Regency Centers in the fourth quarter valued at approximately $26,000. TD Waterhouse Canada Inc. grew its holdings in Regency Centers by 48,700.0% during the 4th 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 acquired a new stake in Regency Centers during the 1st quarter worth $38,000. Canada Post Corp Registered Pension Plan acquired a new stake in Regency Centers during the 4th quarter worth $39,000. Finally, Ameriflex Group Inc. acquired a new stake in Regency Centers during the 4th quarter worth $53,000. Institutional investors and hedge funds own 96.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on REG shares. Truist Financial lifted their target price on shares of Regency Centers from $78.00 to $79.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Barclays started coverage on shares of Regency Centers in a report on Wednesday. They set 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. Wells Fargo & Company lowered their target price on shares of Regency Centers from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Finally, Scotiabank lowered 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 report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $78.00.

Insider Buying and Selling

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the business's stock in a transaction 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Regency Centers Trading Down 0.0%

Shares of REG stock traded down $0.01 on Friday, hitting $70.80. The stock had a trading volume of 684,262 shares, compared to its average volume of 1,062,581. Regency Centers Corporation has a twelve month low of $61.34 and a twelve month high of $78.18. The firm has a market cap of $12.85 billion, a P/E 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 company has a fifty day moving average price of $71.71 and a two-hundred day moving average price of $72.09.

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

Regency Centers Announces Dividend

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

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.