Regency Centers Corporation $REG Position Cut by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Regency Centers position by 2.0% in the third quarter, selling 14,422 shares. It retained 695,453 shares, valued at approximately $50 million.
• Other institutional investors made significant additions, including BlackRock’s new stake worth about $1.6 billion; institutions and hedge funds own 96.07% of the company.
• Analysts’ consensus is “Moderate Buy,” with an average price target of $83. Regency shares opened at $76.84 in the article’s cited session.

Sumitomo Mitsui Trust Group Inc. lessened its position in Regency Centers Corporation (NASDAQ:REG - Free Report) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 695,453 shares of the company's stock after selling 14,422 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.38% of Regency Centers worth $49,989,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Regency Centers during the 2nd quarter worth about $1,597,868,000. Deutsche Bank AG acquired a new position in shares of Regency Centers during the second quarter valued at $170,282,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Regency Centers by 18,982.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,953,088 shares of the company's stock valued at $155,739,000 after acquiring an additional 1,942,853 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Regency Centers during the second quarter valued at approximately $109,394,000. Finally, Hsbc Holdings PLC acquired a new stake in Regency Centers during the second quarter valued at approximately $108,196,000. Institutional investors and hedge funds own 96.07% of the company's stock.

Regency Centers Stock Up 2.2%

Shares of NASDAQ REG opened at $76.84 on Thursday. Regency Centers Corporation has a 52-week low of $66.86 and a 52-week high of $83.66. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.25 and a current ratio of 1.25. The company's 50 day moving average price is $73.68 and its 200-day moving average price is $76.67. The company has a market capitalization of $14.07 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 4.51 and a beta of 0.80.

Wall Street Analyst Weigh In

REG has been the subject of a number of research reports. Barclays decreased their target price on shares of Regency Centers from $92.00 to $85.00 and set an "overweight" rating for the company in a research note on Monday, September 28th. JPMorgan Chase & Co. upgraded shares of Regency Centers from a "neutral" rating to an "overweight" rating and set a $83.00 target price for the company in a research report on Thursday, September 24th. The Goldman Sachs Group set a $83.00 price objective on Regency Centers in a report on Thursday, September 24th. Wells Fargo & Company dropped their price target on Regency Centers from $88.00 to $84.00 and set an "overweight" rating on the stock in a research note on Friday, October 23rd. Finally, Evercore set a $83.00 target price on shares of Regency Centers in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Regency Centers presently has an average rating of "Moderate Buy" and a consensus price target of $83.00.

Regency Centers Company Profile

Regency Centers Corporation is a real estate investment trust that owns, operates, develops and redevelops grocery-anchored shopping centers in the United States. Its properties are designed to serve everyday consumer needs and typically include supermarkets, restaurants, service providers, retailers and other commercial tenants.

The company focuses primarily on high-quality shopping centers located in established and growing communities, often in affluent or densely populated trade areas.

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