Centersquare Investment Management LLC Reduces Stake in Regency Centers Corporation (NASDAQ:REG)

Key Points

• Centersquare Investment Management LLC reduced its stake in Regency Centers Corporation by 13.5%, now owning 399,700 shares worth approximately $29.5 million.
• Regency Centers reported $1.16 earnings per share for the last quarter, exceeding analysts' expectations of $1.12, and posted a net margin of 27.00%.
• Despite the dip from other institutional investors, Regency Centers' stock maintains a current average rating of "Moderate Buy" from analysts, with a target price of around $77.92.

Centersquare Investment Management LLC lowered its stake in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 13.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 399,700 shares of the company's stock after selling 62,225 shares during the period. Centersquare Investment Management LLC owned 0.22% of Regency Centers worth $29,482,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings 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 valued at $771,859,000 after acquiring an additional 171,047 shares during the period. Invesco Ltd. boosted its stake in Regency Centers by 121.2% in the 4th quarter. Invesco Ltd. now owns 5,374,450 shares of the company's stock worth $397,333,000 after purchasing an additional 2,944,854 shares during the period. Northern Trust Corp grew 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 valued at $205,645,000 after buying an additional 1,086,797 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Regency Centers by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,692,029 shares of the company's stock valued at $199,019,000 after buying an additional 20,497 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Regency Centers by 2.7% in the fourth 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 buying an additional 56,741 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Insider Transactions at Regency Centers

In other Regency Centers news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of Regency Centers stock in a transaction that occurred 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 transaction, the insider directly owned 33,069 shares of the company's stock, valued at $2,395,518.36. The trade was a 11.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Regency Centers Trading Down 0.9%

Shares of REG traded down $0.66 during mid-day trading on Thursday, reaching $72.54. The company's stock had a trading volume of 929,690 shares, compared to its average volume of 1,211,378. Regency Centers Corporation has a 52 week low of $63.44 and a 52 week high of $78.18. The stock has a market cap of $13.17 billion, a PE ratio of 33.90, a P/E/G ratio of 3.51 and a beta of 1.05. The company's fifty day moving average price is $70.97 and its two-hundred day moving average price is $71.86. The company has a current ratio of 1.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72.

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

Regency Centers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 2nd. Investors of record on Thursday, September 11th will be given a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a yield of 3.9%. The ex-dividend date is Thursday, September 11th. Regency Centers's dividend payout ratio (DPR) is presently 131.78%.

Analyst Ratings Changes

REG has been the subject of several recent analyst reports. Wall Street Zen cut shares of Regency Centers from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Evercore ISI lifted their price objective on Regency Centers from $79.00 to $80.00 and gave the company an "in-line" rating in a research note on Wednesday, July 30th. Robert W. Baird boosted their target price on Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Truist Financial raised their price target on Regency Centers from $78.00 to $79.00 and gave the company a "buy" rating in a report on Monday, May 19th. Finally, Mizuho dropped their price target on 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $77.92.

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.