Shell Asset Management Co. Raises Stock Holdings in Regency Centers Corporation $REG

Key Points

• Shell Asset Management Co. has increased its stake in Regency Centers Corporation by 31.2%, owning 79,365 shares worth approximately $5.65 million after the addition of 18,874 shares in the second quarter.
• Regency Centers reported earnings of $1.16 per share for the last quarter, surpassing analysts' estimates and indicating a 6.6% year-over-year revenue increase with a total revenue of $369.85 million.
• The company recently announced a quarterly dividend of $0.705 per share, yielding 4.0%, with a payout ratio of 131.78%.

Shell Asset Management Co. raised its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 31.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,365 shares of the company's stock after purchasing an additional 18,874 shares during the period. Shell Asset Management Co.'s holdings in Regency Centers were worth $5,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. grew its position in shares of Regency Centers by 3.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 120,960 shares of the company's stock worth $8,922,000 after buying an additional 3,773 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Regency Centers by 14.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,322 shares of the company's stock valued at $2,210,000 after acquiring an additional 3,857 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Regency Centers by 7.1% in the first quarter. Janney Montgomery Scott LLC now owns 4,296 shares of the company's stock worth $317,000 after purchasing an additional 283 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Regency Centers by 46.2% in the first quarter. Teacher Retirement System of Texas now owns 29,633 shares of the company's stock worth $2,186,000 after purchasing an additional 9,359 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Regency Centers by 43.1% during the first quarter. Farther Finance Advisors LLC now owns 1,435 shares of the company's stock worth $106,000 after purchasing an additional 432 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Regency Centers Stock Down 0.8%

Regency Centers stock opened at $71.14 on Tuesday. 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 market capitalization of $12.92 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 3.10 and a beta of 1.09. The business has a 50 day simple moving average of $71.82 and a 200-day simple moving average of $71.40. Regency Centers Corporation has a 12 month low of $63.44 and a 12 month high of $78.18.

Regency Centers (NASDAQ:REG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.04. The firm had revenue of $369.85 million for the quarter, compared to analysts' expectations of $366.35 million. Regency Centers had a net margin of 27.00% and a return on equity of 6.05%. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. Regency Centers has set its FY 2025 guidance at 4.590-4.630 EPS. On average, analysts anticipate 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 was paid on Thursday, October 2nd. Shareholders of record on Thursday, September 11th were paid a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a yield of 4.0%. The ex-dividend date was Thursday, September 11th. Regency Centers's payout ratio is 131.78%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on REG. Scotiabank raised their price objective on Regency Centers from $75.00 to $76.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 28th. Wells Fargo & Company boosted 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 increased their price objective on shares of Regency Centers from $78.00 to $80.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Wall Street Zen upgraded shares of Regency Centers from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Evercore ISI upped their price target on shares of Regency Centers from $76.00 to $77.00 and gave the company an "in-line" rating in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $79.09.

About Regency Centers

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.

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