Vanguard Group Inc. Sells 118,098 Shares of Regency Centers Corporation (NASDAQ:REG)

Key Points

• Vanguard Group Inc. reduced its stake in Regency Centers Corporation by 0.4%, selling 118,098 shares, and now holds approximately 15.52% of the company's stock valued at over $2 billion.
• Recent analyst activity shows a range of ratings for Regency Centers, with one analyst downgrading the stock to "sell" while several others maintain a consensus rating of "Moderate Buy" with an average target price of $77.92.
• Regency Centers announced a quarterly dividend of $0.705, representing a 3.9% yield, with a current dividend payout ratio of 131.78%.

Vanguard Group Inc. lessened its holdings in Regency Centers Corporation (NASDAQ:REG - Free Report) by 0.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,180,268 shares of the company's stock after selling 118,098 shares during the period. Vanguard Group Inc. owned about 15.52% of Regency Centers worth $2,078,577,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wayfinding Financial LLC acquired a new stake in shares of Regency Centers during the first quarter valued at about $25,000. Heck Capital Advisors LLC acquired a new stake in shares of Regency Centers during the fourth quarter valued at about $26,000. TD Waterhouse Canada Inc. boosted its stake in shares of Regency Centers by 48,700.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company's stock valued at $36,000 after purchasing an additional 487 shares in the last quarter. Sentry Investment Management LLC acquired a new stake in shares of Regency Centers during the first quarter valued at about $38,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Regency Centers during the fourth quarter valued at about $39,000. Institutional investors own 96.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on REG shares. Wall Street Zen lowered Regency Centers from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Scotiabank cut their price target on Regency Centers from $76.00 to $75.00 and set a "sector perform" rating on the stock in a research note on Monday, May 12th. Evercore ISI lifted their price target on Regency Centers from $79.00 to $80.00 and gave the company an "in-line" rating in a research note on Wednesday, July 30th. Mizuho cut their price target on Regency Centers from $79.00 to $74.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. Finally, Robert W. Baird lifted their price objective on Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $77.92.

Regency Centers Stock Performance

Shares of REG opened at $71.92 on Friday. The stock's 50-day simple moving average is $70.97 and its 200 day simple moving average is $71.86. The stock has a market capitalization of $13.06 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 3.45 and a beta of 1.05. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.13. Regency Centers Corporation has a 52-week low of $63.44 and a 52-week high of $78.18.

Regency Centers (NASDAQ:REG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.04. The business had revenue of $369.85 million for the quarter, compared to analyst estimates of $366.35 million. Regency Centers had a return on equity of 6.05% and a net margin of 27.00%. The company's quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.06 EPS. Research analysts forecast that Regency Centers Corporation will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be given a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Thursday, September 11th. Regency Centers's dividend payout ratio (DPR) is currently 131.78%.

Insider Buying and Selling at Regency Centers

In other news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of Regency Centers stock in a transaction that occurred on 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 in the company, valued at approximately $2,395,518.36. This trade represents a 11.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company's stock.

Regency Centers 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.

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