Royal Bank of Canada Boosts Stock Holdings in Regency Centers Co. (NASDAQ:REG)

Royal Bank of Canada lifted its position in shares of Regency Centers Co. (NASDAQ:REG - Free Report) by 17.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 284,696 shares of the company's stock after buying an additional 43,023 shares during the period. Royal Bank of Canada owned about 0.16% of Regency Centers worth $21,048,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of REG. Heck Capital Advisors LLC acquired a new position in shares of Regency Centers during the 4th quarter worth about $26,000. National Pension Service acquired a new stake in Regency Centers during the fourth quarter worth approximately $27,000. TD Waterhouse Canada Inc. grew its holdings in Regency Centers by 48,700.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company's stock valued at $36,000 after buying an additional 487 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new position in Regency Centers during the fourth quarter worth about $39,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Regency Centers during the fourth quarter worth approximately $54,000. 96.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on REG. Scotiabank dropped their target price on shares of Regency Centers from $76.00 to $75.00 and set a "sector perform" rating for the company in a research report on Monday, May 12th. Wells Fargo & Company cut their price target on shares of Regency Centers from $80.00 to $79.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. Finally, Truist Financial boosted their price target on shares of Regency Centers from $78.00 to $79.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $78.08.

Regency Centers Stock Down 0.5%

Shares of NASDAQ:REG traded down $0.39 during trading on Friday, reaching $72.00. 121,614 shares of the stock were exchanged, compared to its average volume of 1,047,826. Regency Centers Co. has a 1-year low of $59.22 and a 1-year high of $78.18. The stock has a fifty day moving average of $71.53 and a two-hundred day moving average of $72.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95. The firm has a market cap of $13.07 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 3.75 and a beta of 1.02.

Regency Centers (NASDAQ:REG - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.01. The firm had revenue of $370.35 million for the quarter, compared to the consensus estimate of $364.64 million. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. During the same quarter in the prior year, the company posted $1.08 earnings per share. Research analysts anticipate that Regency Centers Co. will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be paid a $0.705 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $2.82 annualized dividend and a dividend yield of 3.92%. Regency Centers's payout ratio is 133.02%.

Insider Activity

In other news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of Regency Centers stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $72.44, for a total transaction of $301,205.52. Following the sale, the insider now directly owns 33,069 shares in the company, valued at $2,395,518.36. The trade was a 11.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the business's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the completion of the transaction, the chairman now directly owns 110,263 shares in the company, valued at $8,102,125.24. This trade represents a 31.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

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.