Rafferty Asset Management LLC Lowers Holdings in Regency Centers Corporation $REG

Key Points

• Rafferty Asset Management LLC has sold 3,700 shares of Regency Centers Corporation, reducing its stake by 17.2%, leaving them with 17,798 shares valued at approximately $1.31 million.
• Several institutional investors have modified their positions in Regency Centers, with 96.07% of the company's stock now owned by such entities, indicating strong institutional support.
• Regency Centers recently announced a quarterly dividend of $0.705 per share, which represents an annual yield of 3.9%, despite a payout ratio of 131.78%.

Rafferty Asset Management LLC reduced its holdings in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 17.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,798 shares of the company's stock after selling 3,700 shares during the period. Rafferty Asset Management LLC's holdings in Regency Centers were worth $1,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in REG. Wayfinding Financial LLC acquired a new position in Regency Centers during the 1st quarter valued at about $25,000. Heck Capital Advisors LLC acquired a new position in Regency Centers during the 4th quarter valued at about $26,000. Caitong International Asset Management Co. Ltd increased its position in Regency Centers by 42.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 505 shares of the company's stock valued at $37,000 after buying an additional 150 shares in the last quarter. Sentry Investment Management LLC acquired a new position in Regency Centers during the 1st quarter valued at about $38,000. Finally, GKV Capital Management Co. Inc. acquired a new position in Regency Centers during the 1st quarter valued at about $40,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Regency Centers Stock Performance

Shares of REG traded up $1.33 during mid-day trading on Thursday, reaching $73.56. The company had a trading volume of 1,219,966 shares, compared to its average volume of 1,106,949. Regency Centers Corporation has a 52-week low of $63.44 and a 52-week high of $78.18. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $13.36 billion, a P/E ratio of 34.37, a PEG ratio of 3.13 and a beta of 1.09. The stock has a 50 day moving average of $71.18 and a two-hundred day moving average of $71.75.

Regency Centers (NASDAQ:REG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.04. The company had revenue of $369.85 million during the quarter, compared to analysts' expectations of $366.35 million. Regency Centers had a return on equity of 6.05% and a net margin of 27.00%.Regency Centers's quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 EPS. Regency Centers has set its FY 2025 guidance at 4.590-4.630 EPS. On average, analysts expect that Regency Centers Corporation will post 4.54 earnings per share for the current year.

Regency Centers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be issued a $0.705 dividend. This represents a $2.82 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Thursday, September 11th. Regency Centers's dividend payout ratio (DPR) is currently 131.78%.

Wall Street Analyst Weigh In

REG has been the topic of several research analyst reports. Scotiabank boosted their price target on Regency Centers from $75.00 to $76.00 and gave the company a "sector perform" rating in a research note on Thursday, August 28th. Truist Financial boosted their price target on Regency Centers from $79.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, August 15th. Barclays boosted their price target on Regency Centers from $77.00 to $79.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 27th. Evercore ISI boosted their price target on Regency Centers from $79.00 to $80.00 and gave the company an "in-line" rating in a research note on Wednesday, July 30th. Finally, Wall Street Zen downgraded Regency Centers from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $79.00.

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.