Royal Bank of Canada Grows Stock Position in Regency Centers Corporation $REG

Key Points

• Royal Bank of Canada increased its Regency Centers stake by 45.9% in the first quarter, bringing its holdings to 189,131 shares valued at approximately $14.3 million. Institutional investors collectively own 96.07% of REG.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $83.75. REG recently traded at $77.12, within its $66.86–$83.66 one-year range.
• Regency Centers declared a quarterly dividend of $0.755 per share, or $3.02 annualized, representing a 3.9% yield; its payout ratio is currently elevated at 102.37%.

Royal Bank of Canada lifted its holdings in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 45.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 189,131 shares of the company's stock after acquiring an additional 59,496 shares during the period. Royal Bank of Canada owned approximately 0.10% of Regency Centers worth $14,310,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of REG. Norges Bank purchased a new stake in Regency Centers during the 4th quarter worth approximately $1,183,667,000. Principal Financial Group Inc. increased its position in shares of Regency Centers by 10.3% in the 1st quarter. Principal Financial Group Inc. now owns 10,004,796 shares of the company's stock valued at $756,967,000 after acquiring an additional 931,272 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new position in shares of Regency Centers in the 4th quarter valued at $56,480,000. Goldman Sachs Group Inc. raised its stake in Regency Centers by 75.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,806,165 shares of the company's stock worth $124,680,000 after acquiring an additional 775,609 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Regency Centers by 364.9% in the 4th quarter. AQR Capital Management LLC now owns 842,037 shares of the company's stock worth $58,126,000 after acquiring an additional 660,896 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Insider Activity at Regency Centers

In related news, insider Terah L. Devereaux sold 1,240 shares of Regency Centers stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $80.14, for a total value of $99,373.60. Following the completion of the transaction, the insider owned 17,990 shares in the company, valued at $1,441,718.60. The trade was a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on REG shares. Raymond James Financial reissued an "outperform" rating and issued a $88.00 price objective on shares of Regency Centers in a report on Monday, June 29th. LADENBURG THALM/SH SH lifted their target price on Regency Centers from $83.00 to $85.00 and gave the stock a "neutral" rating in a report on Friday, July 31st. BTIG Research reiterated a "buy" rating and issued a $85.00 target price on shares of Regency Centers in a research report on Friday, June 12th. UBS Group increased their price target on shares of Regency Centers from $81.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, Evercore set a $83.00 price target on shares of Regency Centers in a research report on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.75.

Regency Centers Stock Performance

REG opened at $77.12 on Friday. The firm has a fifty day moving average price of $79.66 and a 200 day moving average price of $77.79. Regency Centers Corporation has a 1 year low of $66.86 and a 1 year high of $83.66. The stock has a market cap of $14.12 billion, a P/E ratio of 26.14, a P/E/G ratio of 3.22 and a beta of 0.80. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.25 and a quick ratio of 2.14.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be paid a dividend of $0.755 per share. This represents a $3.02 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, September 11th. Regency Centers's dividend payout ratio is presently 102.37%.

About Regency Centers

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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