Regency Centers Corporation $REG Shares Purchased by Prudential PLC

Key Points

• Prudential PLC increased its stake in Regency Centers Corporation by 136.8%, now owning 53,549 shares valued at approximately $3.95 million.
• Regency Centers recently reported earnings of $1.16 per share, exceeding estimates by $0.04, with a year-over-year revenue increase of 6.6%.
• The company declared a quarterly dividend of $0.705 per share, with a dividend yield of 3.9%, set to be paid on October 2nd.

Prudential PLC increased its holdings in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 136.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,549 shares of the company's stock after purchasing an additional 30,939 shares during the quarter. Prudential PLC's holdings in Regency Centers were worth $3,950,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. grew its stake in Regency Centers by 3.2% during the first quarter. Envestnet Asset Management Inc. now owns 120,960 shares of the company's stock worth $8,922,000 after purchasing an additional 3,773 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Regency Centers by 14.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,322 shares of the company's stock worth $2,210,000 after acquiring an additional 3,857 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Regency Centers by 7.1% during the first quarter. Janney Montgomery Scott LLC now owns 4,296 shares of the company's stock worth $317,000 after purchasing an additional 283 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Regency Centers by 46.2% during the first quarter. Teacher Retirement System of Texas now owns 29,633 shares of the company's stock valued at $2,186,000 after purchasing an additional 9,359 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Regency Centers by 43.1% in the first quarter. Farther Finance Advisors LLC now owns 1,435 shares of the company's stock valued at $106,000 after purchasing an additional 432 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Regency Centers Stock Down 0.6%

Shares of Regency Centers stock traded down $0.40 on Monday, reaching $70.62. 258,574 shares of the company were exchanged, compared to its average volume of 1,099,300. The stock's 50 day moving average price is $70.95 and its 200-day moving average price is $71.84. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.13 and a quick ratio of 1.13. Regency Centers Corporation has a 1-year low of $63.44 and a 1-year high of $78.18. The company has a market cap of $12.82 billion, a P/E ratio of 33.01, a price-to-earnings-growth ratio of 3.40 and a beta of 1.05.

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

Regency Centers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders 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 dividend yield of 4.0%. The ex-dividend date is Thursday, September 11th. Regency Centers's payout ratio is 131.78%.

Analyst Upgrades and Downgrades

REG has been the topic of several analyst reports. Wall Street Zen lowered Regency Centers from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Evercore ISI increased their price target on shares of Regency Centers from $79.00 to $80.00 and gave the stock an "in-line" rating in a report on Wednesday, July 30th. Truist Financial set a $81.00 target price on shares of Regency Centers and gave the stock a "buy" rating in a research note on Friday. Robert W. Baird lifted their price target on Regency Centers from $78.00 to $80.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Finally, Mizuho reduced their price objective on shares of Regency Centers from $79.00 to $74.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $78.33.

Insider Activity

In other Regency Centers news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the firm's 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 owned 33,069 shares of the company's stock, valued at approximately $2,395,518.36. This trade represents a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.

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.