Millennium Management LLC Decreases Holdings in Regency Centers Co. (NASDAQ:REG)

Millennium Management LLC trimmed its stake in Regency Centers Co. (NASDAQ:REG - Free Report) by 69.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,683 shares of the company's stock after selling 98,196 shares during the period. Millennium Management LLC's holdings in Regency Centers were worth $3,229,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of REG. Norges Bank bought a new stake in shares of Regency Centers during the fourth quarter worth $1,262,425,000. Invesco Ltd. raised its holdings in Regency Centers by 121.2% during the 4th quarter. Invesco Ltd. now owns 5,374,450 shares of the company's stock worth $397,333,000 after buying an additional 2,944,854 shares during the period. Northern Trust Corp raised its holdings in Regency Centers by 64.1% during the 4th quarter. Northern Trust Corp now owns 2,781,614 shares of the company's stock worth $205,645,000 after buying an additional 1,086,797 shares during the period. Prudential Financial Inc. raised its holdings in Regency Centers by 51.7% during the 4th quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company's stock worth $159,363,000 after buying an additional 734,210 shares during the period. Finally, California Public Employees Retirement System grew its stake in shares of Regency Centers by 137.2% during the 4th quarter. California Public Employees Retirement System now owns 776,521 shares of the company's stock worth $57,408,000 after acquiring an additional 449,110 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on REG shares. Wells Fargo & Company decreased their target price on shares of 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 objective on shares of Regency Centers from $78.00 to $79.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Scotiabank dropped their target price on Regency Centers from $76.00 to $75.00 and set a "sector perform" rating for the company in a report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $78.08.

Insider Transactions at Regency Centers

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the stock in a transaction on 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 sale, the insider now directly owns 33,069 shares of the company's stock, valued at approximately $2,395,518.36. This represents a 11.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $73.48, for a total value of $3,674,000.00. Following the completion of the sale, the chairman now directly owns 110,263 shares of the company's stock, valued at $8,102,125.24. The trade was a 31.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Regency Centers Price Performance

NASDAQ REG traded down $0.24 during trading on Tuesday, hitting $71.71. 313,749 shares of the company's stock were exchanged, compared to its average volume of 1,050,538. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The company has a market cap of $13.02 billion, a PE ratio of 33.83, a P/E/G ratio of 3.75 and a beta of 1.02. Regency Centers Co. has a fifty-two week low of $60.00 and a fifty-two week high of $78.18. The stock's 50 day moving average price is $71.50 and its two-hundred day moving average price is $72.68.

Regency Centers (NASDAQ:REG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.14 by $0.01. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. 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 prior year, the business posted $1.08 earnings per share. Research analysts expect that Regency Centers Co. will post 4.54 EPS for the current year.

Regency Centers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th will be issued a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date is Wednesday, June 11th. Regency Centers's payout ratio is 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.