Citigroup Inc. Raises Holdings in Regency Centers Corporation (NASDAQ:REG)

Key Points

• Citigroup Inc. increased its ownership in Regency Centers Corporation by 32.3%, acquiring 96,867 additional shares, now totaling 396,653 shares valued at approximately $29.3 million.
• Regency Centers reported an earnings per share of $1.16 for the last quarter, exceeding expectations and reflecting a 6.6% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.705, with an annualized yield of 3.9%, set to be paid on October 2nd to stockholders on record.

Citigroup Inc. increased its stake in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 32.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 396,653 shares of the company's stock after purchasing an additional 96,867 shares during the quarter. Citigroup Inc. owned 0.22% of Regency Centers worth $29,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of REG. Price T Rowe Associates Inc. MD boosted its position in shares of 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. Northern Trust Corp boosted its position in shares of 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 acquiring an additional 1,086,797 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Regency Centers by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,692,029 shares of the company's stock worth $199,019,000 after acquiring an additional 20,497 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Regency Centers by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,348,185 shares of the company's stock worth $173,202,000 after acquiring an additional 19,675 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Regency Centers by 2.7% during 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 worth $157,655,000 after acquiring an additional 56,741 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

REG has been the subject of several analyst reports. Truist Financial upped their price objective on Regency Centers from $78.00 to $79.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Barclays initiated coverage on Regency Centers in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $77.00 price objective for the company. Robert W. Baird upped their price objective on Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Mizuho reduced their target price on Regency Centers from $79.00 to $74.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. Finally, Wall Street Zen downgraded Regency Centers from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Regency Centers presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.92.

Insider Activity

In other news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $2,395,518.36. This represents a 11.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.00% of the company's stock.

Regency Centers Stock Performance

REG traded up $0.14 on Wednesday, hitting $72.02. 1,592,569 shares of the company traded hands, compared to its average volume of 1,193,557. The company has a 50 day moving average of $70.98 and a 200-day moving average of $71.87. 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 $13.08 billion, a PE ratio of 33.65, a PEG ratio of 3.45 and a beta of 1.05. Regency Centers Corporation has a 12-month low of $63.44 and a 12-month high of $78.18.

Regency Centers (NASDAQ:REG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $1.16 EPS for the quarter, beating the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned $1.06 EPS. Sell-side analysts anticipate that Regency Centers Corporation will post 4.54 earnings per share for the current year.

Regency Centers Dividend Announcement

The firm also recently announced 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 3.9%. The ex-dividend date of this dividend is Thursday, September 11th. Regency Centers's dividend payout ratio is 131.78%.

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.