SummitTX Capital L.P. Decreases Stock Holdings in Regency Centers Corporation $REG

Key Points

• SummitTX Capital reduced its Regency Centers stake by 22.9% in the first quarter, selling 26,423 shares and retaining 88,734 shares valued at approximately $6.7 million.
• Other major institutions increased their exposure, including Principal Financial, Goldman Sachs, and AQR Capital Management. Institutional investors collectively own 96.07% of Regency Centers.
• Regency Centers pays a quarterly dividend of $0.755, equivalent to an annualized $3.02 and a 3.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $83.06.

SummitTX Capital L.P. lowered its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 22.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 88,734 shares of the company's stock after selling 26,423 shares during the quarter. SummitTX Capital L.P.'s holdings in Regency Centers were worth $6,714,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in REG. Norges Bank purchased a new position in Regency Centers during the fourth quarter valued at $1,183,667,000. Principal Financial Group Inc. increased its stake in shares of Regency Centers by 10.3% during the first quarter. Principal Financial Group Inc. now owns 10,004,796 shares of the company's stock worth $756,967,000 after purchasing an additional 931,272 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Regency Centers during the fourth quarter worth about $56,480,000. Goldman Sachs Group Inc. raised its position in shares of Regency Centers by 75.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,806,165 shares of the company's stock worth $124,680,000 after purchasing an additional 775,609 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Regency Centers by 364.9% during the 4th quarter. AQR Capital Management LLC now owns 842,037 shares of the company's stock worth $58,126,000 after purchasing an additional 660,896 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Regency Centers Stock Performance

REG opened at $82.34 on Tuesday. The firm has a market capitalization of $15.08 billion, a PE ratio of 28.39, a PEG ratio of 3.48 and a beta of 0.80. Regency Centers Corporation has a twelve month low of $66.86 and a twelve month high of $83.66. The firm's 50-day moving average price is $79.45 and its 200 day moving average price is $77.26. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72.

Regency Centers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th were paid a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Friday, June 12th. Regency Centers's dividend payout ratio (DPR) is 104.14%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Jefferies Financial Group upgraded Regency Centers to a "strong-buy" rating in a report on Friday, June 26th. Citigroup increased their target price on Regency Centers from $76.00 to $82.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. BTIG Research restated a "buy" rating and issued a $85.00 target price on shares of Regency Centers in a research report on Friday, June 12th. Wells Fargo & Company lifted their price target on Regency Centers from $88.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Raymond James Financial reiterated an "outperform" rating and set a $88.00 price target on shares of Regency Centers in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $83.06.

Insider Transactions at Regency Centers

In related news, Chairman Martin E. Stein, Jr. sold 274,615 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $78.40, for a total value of $21,529,816.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Terah L. Devereaux sold 1,240 shares of Regency Centers stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $80.14, for a total value of $99,373.60. Following the transaction, the insider owned 17,990 shares in the company, valued at approximately $1,441,718.60. The trade was a 6.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 283,782 shares of company stock worth $22,255,898 in the last ninety days. Insiders own 1.00% of the company's stock.

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.

Want to see what other hedge funds are holding REG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Regency Centers Corporation (NASDAQ:REG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.