Regency Centers Corporation $REG Shares Sold by Royal Bank of Canada

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 trimmed its holdings in Regency Centers Corporation (NASDAQ:REG - Free Report) by 48.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 147,062 shares of the company's stock after selling 137,634 shares during the period. Royal Bank of Canada owned 0.08% of Regency Centers worth $10,847,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in REG. Wayfinding Financial LLC purchased a new position in Regency Centers in the 1st quarter valued at about $25,000. Heck Capital Advisors LLC acquired a new stake in Regency Centers in the fourth quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd grew its position in shares of Regency Centers by 42.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 505 shares of the company's stock worth $37,000 after buying an additional 150 shares in the last quarter. Sentry Investment Management LLC acquired a new stake in shares of Regency Centers during the first quarter worth approximately $38,000. Finally, GKV Capital Management Co. Inc. bought a new position in Regency Centers during the first quarter worth $40,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Regency Centers Stock Performance

Regency Centers stock opened at $72.24 on Friday. Regency Centers Corporation has a 52-week low of $63.44 and a 52-week high of $78.18. The firm has a market capitalization of $13.12 billion, a P/E ratio of 33.76, a P/E/G ratio of 3.12 and a beta of 1.09. 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 stock has a fifty day moving average price of $71.42 and a two-hundred day moving average price of $71.73.

Regency Centers (NASDAQ:REG - Get Free Report) last announced its 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. Regency Centers had a return on equity of 6.05% and a net margin of 27.00%.The company had revenue of $369.85 million during the quarter, compared to analyst estimates of $366.35 million. During the same period last year, the company posted $1.06 earnings per share. The firm'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. As a group, analysts anticipate that Regency Centers Corporation will post 4.54 EPS 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. Investors of record on Thursday, September 11th will be issued a $0.705 dividend. The ex-dividend date is Thursday, September 11th. This represents a $2.82 annualized dividend and a yield of 3.9%. Regency Centers's dividend payout ratio (DPR) is currently 131.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on REG. Barclays boosted their price target on shares of Regency Centers from $77.00 to $79.00 and gave the company an "equal weight" rating in a report on Wednesday, August 27th. Wells Fargo & Company lifted their price target on Regency Centers from $79.00 to $81.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. Robert W. Baird raised their price objective on Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Evercore ISI lifted their price target on Regency Centers from $79.00 to $80.00 and gave the company an "in-line" rating in a report on Wednesday, July 30th. Finally, Scotiabank boosted their target price on Regency Centers from $75.00 to $76.00 and gave the stock a "sector perform" rating in a report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $78.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.