Royal Bank of Canada Trims Position in Regency Centers Corporation $REG

Key Points

• Royal Bank of Canada significantly reduced its holdings in Regency Centers Corporation by 48.3%, selling 137,634 shares, leaving it with a total of 147,062 shares valued at approximately $10.8 million.
• Regency Centers reported $1.16 earnings per share for the latest quarter, exceeding analysts' expectations and reflecting a 6.6% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.705, contributing to an annualized yield of 3.9%, despite a high dividend payout ratio of 131.78%.

Royal Bank of Canada decreased its position in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 48.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,062 shares of the company's stock after selling 137,634 shares during the period. Royal Bank of Canada owned approximately 0.08% of Regency Centers worth $10,847,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in REG. Wayfinding Financial LLC purchased a new stake in Regency Centers during the first quarter valued at about $25,000. Heck Capital Advisors LLC purchased a new stake in Regency Centers during the fourth quarter valued at about $26,000. Caitong International Asset Management Co. Ltd boosted its position in Regency Centers by 42.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 505 shares of the company's stock valued at $37,000 after buying an additional 150 shares during the period. Sentry Investment Management LLC purchased a new stake in Regency Centers during the first quarter valued at about $38,000. Finally, GKV Capital Management Co. Inc. purchased a new stake in Regency Centers during the first quarter valued at about $40,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

REG has been the subject of several analyst reports. LADENBURG THALM/SH SH began coverage on shares of Regency Centers in a research report on Tuesday, September 9th. They set a "neutral" rating and a $76.00 price target for the company. Wells Fargo & Company boosted their price objective on shares of Regency Centers from $79.00 to $81.00 and gave the company an "overweight" rating in a research report on Wednesday, August 27th. Truist Financial raised their target price on shares of Regency Centers from $79.00 to $81.00 and gave the stock a "buy" rating in a research report on Friday, August 15th. Evercore ISI raised their target price on shares of Regency Centers from $76.00 to $77.00 and gave the stock an "in-line" rating in a research report on Monday. Finally, Robert W. Baird raised their target price on shares of Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $78.42.

Regency Centers Stock Down 0.9%

Shares of REG traded down $0.62 during trading hours on Wednesday, hitting $69.76. The company had a trading volume of 986,455 shares, compared to its average volume of 1,079,594. The firm has a fifty day moving average price of $71.49 and a 200-day moving average price of $71.59. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of 32.60, a P/E/G ratio of 3.04 and a beta of 1.09. Regency Centers Corporation has a 52-week low of $63.44 and a 52-week high of $78.18.

Regency Centers (NASDAQ:REG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.04. Regency Centers had a return on equity of 6.05% and a net margin of 27.00%.The firm had revenue of $369.85 million during the quarter, compared to analyst estimates of $366.35 million. During the same quarter in the previous year, the firm earned $1.06 EPS. Regency Centers's quarterly revenue was up 6.6% compared to the same quarter last year. Regency Centers has set its FY 2025 guidance at 4.590-4.630 EPS. On average, equities research analysts forecast that Regency Centers Corporation will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date is Thursday, September 11th. Regency Centers's dividend payout ratio is 131.78%.

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.