Vanguard Group Inc. Has $2.08 Billion Stake in 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. decreased its holdings in Regency Centers Corporation (NASDAQ:REG - Free Report) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 28,180,268 shares of the company's stock after selling 118,098 shares during the quarter. Vanguard Group Inc. owned 15.52% of Regency Centers worth $2,078,577,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of REG. iA Global Asset Management Inc. raised its holdings in Regency Centers by 56.5% during the first quarter. iA Global Asset Management Inc. now owns 7,452 shares of the company's stock worth $550,000 after purchasing an additional 2,691 shares in the last quarter. Probity Advisors Inc. increased its position in shares of Regency Centers by 11.8% during the 1st quarter. Probity Advisors Inc. now owns 7,794 shares of the company's stock valued at $575,000 after purchasing an additional 824 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of Regency Centers in the 1st quarter worth $9,928,000. Jefferies Financial Group Inc. acquired a new stake in shares of Regency Centers in the first quarter valued at $32,136,000. Finally, Natixis Advisors LLC boosted its stake in Regency Centers by 9.3% during the first quarter. Natixis Advisors LLC now owns 34,115 shares of the company's stock valued at $2,516,000 after buying an additional 2,907 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Regency Centers Stock Down 1.3%

Regency Centers stock traded down $0.97 during trading hours on Thursday, hitting $71.05. The company had a trading volume of 341,836 shares, compared to its average volume of 1,100,856. Regency Centers Corporation has a fifty-two week low of $63.44 and a fifty-two week high of $78.18. 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 firm has a market capitalization of $12.90 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 3.45 and a beta of 1.05. The firm's fifty day moving average is $70.98 and its 200-day moving average is $71.87.

Regency Centers (NASDAQ:REG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.12 by $0.04. Regency Centers had a net margin of 27.00% and a return on equity of 6.05%. The business had revenue of $369.85 million for the quarter, compared to analysts' expectations of $366.35 million. During the same period in the previous year, the company posted $1.06 EPS. Regency Centers's revenue was up 6.6% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.705 per share. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 4.0%. Regency Centers's dividend payout ratio (DPR) is 131.78%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on REG shares. Scotiabank dropped their price target on shares of 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. Wall Street Zen lowered Regency Centers from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Mizuho cut their target price on Regency Centers from $79.00 to $74.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Evercore ISI increased their price target on Regency Centers from $79.00 to $80.00 and gave the company an "in-line" rating in a research report on Wednesday, July 30th. Finally, Truist Financial lifted their price target on Regency Centers from $78.00 to $79.00 and gave the stock a "buy" rating in a research note on Monday, May 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.92.

Insider Activity

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the business's 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 completion of the sale, the insider 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

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.