Regency Centers Corporation (NASDAQ:REG) Stock Position Lifted by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in Regency Centers Corporation by 1,815.3%, resulting in ownership of 8,121 shares valued at approximately $599,000.
• Regency Centers reported $1.16 earnings per share for the last quarter, exceeding estimates, with a revenue increase of 6.6% year-over-year.
• The company declared a quarterly dividend of $0.705 per share, which yields 3.9% annually, although the payout ratio is notably high at 131.78%.

Federated Hermes Inc. increased its stake in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 1,815.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 8,121 shares of the company's stock after acquiring an additional 7,697 shares during the period. Federated Hermes Inc.'s holdings in Regency Centers were worth $599,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in Regency Centers by 1.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,440,384 shares of the company's stock worth $771,859,000 after acquiring an additional 171,047 shares in the last quarter. Invesco Ltd. raised its position in shares of Regency Centers by 121.2% in the 4th 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 in the last quarter. Northern Trust Corp raised its position in shares of Regency Centers by 64.1% in the 4th quarter. Northern Trust Corp now owns 2,781,614 shares of the company's stock valued at $205,645,000 after purchasing an additional 1,086,797 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Regency Centers by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,692,029 shares of the company's stock valued at $199,019,000 after purchasing an additional 20,497 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Regency Centers by 2.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,132,494 shares of the company's stock valued at $157,655,000 after purchasing an additional 56,741 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $72.44, for a total transaction of $301,205.52. Following the completion of the transaction, the insider directly owned 33,069 shares in the company, valued at $2,395,518.36. This represents a 11.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on REG. Scotiabank cut their target price on 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. Wall Street Zen lowered Regency Centers from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Mizuho cut their target price on Regency Centers from $79.00 to $74.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Barclays began coverage on Regency Centers in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $77.00 target price on the stock. Finally, Truist Financial upped their target price on Regency Centers from $78.00 to $79.00 and gave the company a "buy" rating in a research report on Monday, May 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Regency Centers has a consensus rating of "Moderate Buy" and an average price target of $77.92.

Regency Centers Stock Performance

REG traded down $0.23 during trading on Tuesday, reaching $71.31. 151,448 shares of the company were exchanged, compared to its average volume of 1,095,535. The stock has a market cap of $12.95 billion, a P/E ratio of 33.31, a PEG ratio of 3.45 and a beta of 1.05. The firm has a 50 day moving average of $70.96 and a 200 day moving average of $71.86. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.72. Regency Centers Corporation has a 52 week low of $63.44 and a 52 week high of $78.18.

Regency Centers (NASDAQ:REG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.04. The firm had revenue of $369.85 million during the quarter, compared to the consensus estimate of $366.35 million. Regency Centers had a return on equity of 6.05% and a net margin of 27.00%. The firm's revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 EPS. On average, sell-side analysts forecast that Regency Centers Corporation will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be paid a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, September 11th. Regency Centers's dividend payout ratio is presently 131.78%.

About Regency Centers

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.