Vestcor Inc Has $4.72 Million Stock Holdings in Regency Centers Corporation (NASDAQ:REG)

Key Points

• Vestcor Inc significantly increased its stake in Regency Centers Corporation by 586.3% in the first quarter, acquiring an additional 54,612 shares, bringing its total holdings to 63,927 shares valued at approximately $4.7 million.
• Regency Centers reported a quarterly earnings of $1.16 per share, surpassing analysts' expectations of $1.12, along with a year-over-year revenue increase of 6.6% to $369.85 million.
• Institutional investors currently hold 96.07% of Regency Centers' stock, indicating high institutional confidence in the company.

Vestcor Inc raised its holdings in shares of Regency Centers Corporation (NASDAQ:REG - Free Report) by 586.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,927 shares of the company's stock after purchasing an additional 54,612 shares during the period. Vestcor Inc's holdings in Regency Centers were worth $4,715,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. State of Wyoming increased its stake in shares of Regency Centers by 11.3% in the 4th quarter. State of Wyoming now owns 1,543 shares of the company's stock valued at $114,000 after acquiring an additional 157 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Regency Centers by 1.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 9,627 shares of the company's stock valued at $710,000 after acquiring an additional 160 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Regency Centers by 4.6% in the 1st quarter. Proficio Capital Partners LLC now owns 3,847 shares of the company's stock valued at $284,000 after acquiring an additional 170 shares during the last quarter. Brown Advisory Inc. increased its stake in shares of Regency Centers by 0.3% in the 1st quarter. Brown Advisory Inc. now owns 71,345 shares of the company's stock valued at $5,262,000 after acquiring an additional 196 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its stake in Regency Centers by 0.3% during the 1st quarter. IFM Investors Pty Ltd now owns 73,926 shares of the company's stock worth $5,340,000 after purchasing an additional 236 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Regency Centers

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $72.44, for a total value of $301,205.52. Following the completion of the transaction, the insider directly owned 33,069 shares of the company's stock, valued at approximately $2,395,518.36. This trade represents a 11.17% decrease in their ownership of the stock. The transaction 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 Stock Down 1.3%

REG traded down $0.92 during trading hours on Friday, hitting $70.48. 1,141,645 shares of the company's stock were exchanged, compared to its average volume of 1,067,626. Regency Centers Corporation has a 1-year low of $63.44 and a 1-year high of $78.18. The stock's 50-day moving average is $70.88 and its two-hundred day moving average is $71.81. The stock has a market cap of $12.79 billion, a price-to-earnings ratio of 32.93, a PEG ratio of 3.43 and a beta of 1.05. The company has a quick ratio of 1.01, a current ratio of 1.13 and a debt-to-equity ratio of 0.72.

Regency Centers (NASDAQ:REG - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.16 earnings per share 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 during the quarter, compared to analysts' expectations of $366.35 million. During the same period last year, the business earned $1.06 earnings per share. The firm's revenue was up 6.6% on a year-over-year basis. Sell-side analysts predict that Regency Centers Corporation will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th were paid 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 4.0%. Regency Centers's dividend payout ratio (DPR) is currently 131.78%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Robert W. Baird increased their target price on Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Wednesday. Scotiabank lowered their target price on Regency Centers from $76.00 to $75.00 and set a "sector perform" rating for the company in a research note on Monday, May 12th. Evercore ISI increased their target price on Regency Centers from $79.00 to $80.00 and gave the stock an "in-line" rating in a research note on Wednesday. Mizuho lowered their target price on Regency Centers from $79.00 to $74.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. Finally, Barclays assumed coverage on Regency Centers in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $77.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $77.92.

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.