Renaissance Technologies LLC Has $41.59 Million Stake in Regency Centers Corporation $REG

Key Points

• Renaissance Technologies increased its Regency Centers stake by 21.7% in the first quarter, adding 97,900 shares to own 549,695 shares valued at approximately $41.59 million. Institutional investors and hedge funds collectively own 96.07% of REG.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $83.06. Recent targets range from $82 to $88, while UBS and Citigroup retained neutral ratings.
• Regency Centers shares opened at $82.34, near their 12-month high of $83.66. The REIT recently paid a quarterly dividend of $0.755, equivalent to an annualized $3.02 and a 3.7% yield, although its payout ratio is elevated at 104.14%.

Renaissance Technologies LLC increased its position in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 21.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 549,695 shares of the company's stock after purchasing an additional 97,900 shares during the period. Renaissance Technologies LLC owned approximately 0.30% of Regency Centers worth $41,590,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Havemeyer Place LP acquired a new stake in shares of Regency Centers during the fourth quarter worth $26,000. Brown Brothers Harriman & Co. increased its position in Regency Centers by 63.1% during the third quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company's stock worth $30,000 after acquiring an additional 157 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in Regency Centers in the 2nd quarter worth about $31,000. Hantz Financial Services Inc. boosted its holdings in Regency Centers by 388.9% in the 4th quarter. Hantz Financial Services Inc. now owns 440 shares of the company's stock valued at $30,000 after purchasing an additional 350 shares during the period. Finally, MUFG Securities EMEA plc bought a new stake in Regency Centers in the 2nd quarter valued at about $34,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on REG shares. UBS Group lifted their price target on shares of Regency Centers from $81.00 to $85.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Citigroup upped their target price on Regency Centers from $76.00 to $82.00 and gave the company a "neutral" rating in a research report on Tuesday, May 5th. Weiss Ratings restated a "buy (b)" rating on shares of Regency Centers in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft cut shares of Regency Centers from a "buy" rating to a "hold" rating and set a $85.00 price objective for the company. in a research report on Friday, May 29th. Finally, Morgan Stanley raised their target price on shares of Regency Centers from $85.00 to $88.00 and gave the company an "overweight" rating in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $83.06.

Regency Centers Stock Performance

NASDAQ:REG opened at $82.34 on Tuesday. Regency Centers Corporation has a twelve month low of $66.86 and a twelve month high of $83.66. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.72. The stock's 50-day simple moving average is $79.45 and its 200 day simple moving average is $77.26. The firm has a market capitalization of $15.08 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 3.48 and a beta of 0.80.

Regency Centers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th were paid a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Friday, June 12th. Regency Centers's dividend payout ratio (DPR) is presently 104.14%.

Insider Activity at Regency Centers

In related news, Chairman Martin E. Stein, Jr. sold 274,615 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $78.40, for a total value of $21,529,816.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $79.06, for a total transaction of $626,708.62. Following the completion of the sale, the insider owned 33,069 shares in the company, valued at $2,614,435.14. This represents a 19.34% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 283,782 shares of company stock valued at $22,255,898. 1.00% of the stock is owned by insiders.

Regency Centers Company Profile

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company's portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.

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