Strs Ohio Raises Position in Regency Centers Corporation $REG

Key Points

• Strs Ohio boosted its stake in Regency Centers by 26.4% in Q4 to 125,128 shares (about $8.64M), representing roughly 0.07% of the company.
• Analysts have trended more positive with several price-target raises; the consensus rating is a "Moderate Buy" and the average target price is $80.57.
• Regency declared a quarterly dividend of $0.755 ($3.02 annualized, ~3.8% yield) despite a payout ratio above 100%, and Chairman Martin E. Stein Jr. sold 38,000 shares on March 11th.

Strs Ohio boosted its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 26.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,128 shares of the company's stock after buying an additional 26,108 shares during the quarter. Strs Ohio owned approximately 0.07% of Regency Centers worth $8,638,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of REG. Brown Brothers Harriman & Co. lifted its stake in Regency Centers by 63.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company's stock valued at $30,000 after buying an additional 157 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new position in Regency Centers in the 2nd quarter valued at about $31,000. Steigerwald Gordon & Koch Inc. purchased a new position in Regency Centers in the 3rd quarter valued at about $33,000. MUFG Securities EMEA plc purchased a new position in Regency Centers in the 2nd quarter valued at about $34,000. Finally, Financial Consulate Inc. purchased a new position in Regency Centers in the 3rd quarter valued at about $38,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

REG has been the topic of a number of research reports. Citigroup raised their price target on shares of Regency Centers from $75.00 to $76.00 and gave the company a "neutral" rating in a research note on Tuesday, February 10th. Wells Fargo & Company raised their price target on shares of Regency Centers from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, March 19th. Royal Bank Of Canada raised shares of Regency Centers to a "sector perform" rating in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft raised shares of Regency Centers from a "hold" rating to a "buy" rating and set a $83.00 target price on the stock in a research note on Tuesday, January 20th. Finally, Truist Financial raised their target price on shares of Regency Centers from $77.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $80.57.

Regency Centers Stock Up 0.1%

REG stock opened at $78.75 on Tuesday. The firm has a market cap of $14.42 billion, a PE ratio of 27.16, a PEG ratio of 3.38 and a beta of 0.82. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 2.06. The firm's 50 day moving average price is $77.84 and its 200-day moving average price is $73.32. Regency Centers Corporation has a one year low of $66.86 and a one year high of $81.66.

Regency Centers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th were given a dividend of $0.755 per share. This represents a $3.02 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Wednesday, March 11th. Regency Centers's payout ratio is presently 104.14%.

Insider Activity at Regency Centers

In other news, Chairman Martin E. Stein, Jr. sold 38,000 shares of Regency Centers stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $77.21, for a total transaction of $2,933,980.00. Following the sale, the chairman owned 157,892 shares of the company's stock, valued at approximately $12,190,841.32. The trade was a 19.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 177,490 shares of company stock worth $13,839,932. 1.00% of the stock is currently 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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