Sumitomo Mitsui Trust Group Inc. Reduces Stake in Regency Centers Corporation (NASDAQ:REG)

Sumitomo Mitsui Trust Group Inc. reduced its position in Regency Centers Corporation (NASDAQ:REG - Free Report) by 28.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 519,625 shares of the company's stock after selling 211,420 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.29% of Regency Centers worth $38,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in shares of Regency Centers in the 4th quarter worth $26,000. TD Waterhouse Canada Inc. boosted its stake in shares of Regency Centers by 48,700.0% in the 4th quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company's stock worth $36,000 after buying an additional 487 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in shares of Regency Centers in the 4th quarter worth $39,000. Sentry Investment Management LLC purchased a new position in shares of Regency Centers in the 1st quarter worth $38,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Regency Centers in the 4th quarter worth $53,000. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of Regency Centers stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $72.44, for a total value of $301,205.52. Following the sale, the insider directly owned 33,069 shares of the company's stock, valued at approximately $2,395,518.36. The trade was a 11.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company's stock.

Regency Centers Price Performance

NASDAQ:REG traded down $0.01 on Friday, reaching $70.80. 684,262 shares of the company's stock traded hands, compared to its average volume of 1,062,581. Regency Centers Corporation has a 12 month low of $61.34 and a 12 month high of $78.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.70. The stock has a 50-day simple moving average of $71.71 and a 200-day simple moving average of $72.10. The firm has a market cap of $12.85 billion, a PE ratio of 33.39, a P/E/G ratio of 3.45 and a beta of 1.00.

Regency Centers (NASDAQ:REG - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.01. Regency Centers had a return on equity of 5.98% and a net margin of 27.21%. The firm had revenue of $370.35 million for the quarter, compared to analysts' expectations of $364.64 million. During the same period in the previous year, the firm posted $1.08 earnings per share. Equities research analysts forecast that Regency Centers Corporation will post 4.54 earnings per share for the current year.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th were issued a $0.705 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $2.82 annualized dividend and a dividend yield of 3.98%. Regency Centers's dividend payout ratio (DPR) is 133.02%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Wells Fargo & Company lowered their target price on Regency Centers from $80.00 to $79.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Barclays assumed coverage on Regency Centers in a research report on Wednesday. They set an "equal weight" rating and a $77.00 target price on the stock. Wall Street Zen downgraded Regency Centers from a "hold" rating to a "sell" rating in a research report on Saturday. Scotiabank lowered their target price on Regency Centers from $76.00 to $75.00 and set a "sector perform" rating on the stock in a research report on Monday, May 12th. Finally, Truist Financial raised their price target on Regency Centers from $78.00 to $79.00 and gave the company a "buy" rating in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $78.00.

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.