Price T Rowe Associates Inc. MD Sells 530,740 Shares of Regency Centers Corporation $REG

Key Points

• Price T Rowe Associates Inc. reduced its stake in Regency Centers by 5.1%, now owning about 5.46% of the company, worth approximately $730.9 million.
• Analysts have set a consensus target price of $78.58 for Regency Centers, with a mix of ratings including one Strong Buy, seven Buy, and four Hold ratings.
• Regency Centers announced a quarterly dividend of $0.705 per share, with a yield of 3.9% and a high dividend payout ratio of 131.78%.

Price T Rowe Associates Inc. MD reduced its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 5.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,909,644 shares of the company's stock after selling 530,740 shares during the period. Price T Rowe Associates Inc. MD owned approximately 5.46% of Regency Centers worth $730,937,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on REG. Wall Street Zen cut shares of Regency Centers from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Scotiabank reissued a "sector perform" rating on shares of Regency Centers in a research note on Thursday. Mizuho increased their target price on Regency Centers from $74.00 to $77.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. 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 report on Wednesday, July 30th. Finally, Barclays upped their price target on shares of Regency Centers from $77.00 to $79.00 and gave the stock an "equal weight" rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $78.92.

Regency Centers Trading Down 1.1%

Shares of Regency Centers stock traded down $0.82 during trading on Thursday, hitting $71.65. 162,110 shares of the company were exchanged, compared to its average volume of 1,100,404. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $13.01 billion, a P/E ratio of 33.48, a price-to-earnings-growth ratio of 3.11 and a beta of 1.05. The firm's fifty day moving average price is $71.06 and its 200 day moving average price is $71.81. Regency Centers Corporation has a 1-year low of $63.44 and a 1-year high of $78.18.

Regency Centers (NASDAQ:REG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.04. The business had revenue of $369.85 million for the quarter, compared to the consensus estimate of $366.35 million. Regency Centers had a net margin of 27.00% and a return on equity of 6.05%. Regency Centers's revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company posted $1.06 EPS. Regency Centers has set its FY 2025 guidance at 4.590-4.630 EPS. As a group, sell-side analysts expect that Regency Centers Corporation will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

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 issued a $0.705 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $2.82 annualized dividend and a dividend yield of 3.9%. Regency Centers's 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.