Allianz Asset Management GmbH Sells 199,376 Shares of Regency Centers Corporation (NASDAQ:REG)

Key Points

• Allianz Asset Management GmbH reduced its stake in Regency Centers Corporation by 51.0%, owning 191,610 shares worth approximately $14.13 million after selling 199,376 shares.
• Regency Centers reported a quarterly earnings per share (EPS) of $1.15, surpassing estimates, with revenue reaching $370.35 million.
• The company announced a quarterly dividend of $0.705 per share, yielding about 3.96%, although its dividend payout ratio currently stands at 133.02%.

Allianz Asset Management GmbH trimmed its holdings in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 51.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 191,610 shares of the company's stock after selling 199,376 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.11% of Regency Centers worth $14,133,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in shares of Regency Centers in the first quarter worth approximately $25,000. Heck Capital Advisors LLC bought a new position in shares of Regency Centers in the fourth quarter worth approximately $26,000. TD Waterhouse Canada Inc. boosted its position in shares of Regency Centers by 48,700.0% in the fourth quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company's stock worth $36,000 after purchasing an additional 487 shares during the period. Sentry Investment Management LLC bought a new position in shares of Regency Centers in the first quarter worth approximately $38,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Regency Centers in the fourth quarter worth approximately $39,000. 96.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

REG has been the subject of a number of recent analyst reports. Barclays initiated coverage on shares of Regency Centers in a research report on Wednesday, July 2nd. They issued an "equal weight" rating and a $77.00 price target for the company. Truist Financial upped their target price 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. Mizuho dropped their target price 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. Wall Street Zen lowered shares of Regency Centers from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Finally, Scotiabank dropped their target price on shares of Regency Centers from $76.00 to $75.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $77.54.

Insiders Place Their Bets

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $72.44, for a total value of $301,205.52. Following the transaction, the insider owned 33,069 shares of the company's stock, valued at $2,395,518.36. This trade represents a 11.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

Regency Centers Price Performance

REG stock traded down $0.35 during trading on Friday, hitting $71.18. 898,039 shares of the company's stock traded hands, compared to its average volume of 1,042,615. Regency Centers Corporation has a 52 week low of $63.44 and a 52 week high of $78.18. The stock has a market capitalization of $12.92 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 3.47 and a beta of 1.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.01. The business has a fifty day simple moving average of $70.97 and a 200 day simple moving average of $71.78.

Regency Centers (NASDAQ:REG - Get Free Report) last issued its quarterly 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. The company had revenue of $370.35 million for the quarter, compared to the consensus estimate of $364.64 million. Regency Centers had a net margin of 27.21% and a return on equity of 5.98%. During the same period in the prior year, the firm posted $1.08 EPS. As a group, research analysts expect that Regency Centers Corporation will post 4.54 EPS for the current fiscal year.

Regency Centers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th were paid a $0.705 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $2.82 dividend on an annualized basis and a yield of 3.96%. Regency Centers's payout ratio is 133.02%.

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.