WESPAC Advisors LLC Invests $722,000 in Regency Centers Corporation (NASDAQ:REG)

WESPAC Advisors LLC acquired a new position in Regency Centers Corporation (NASDAQ:REG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 9,782 shares of the company's stock, valued at approximately $722,000.

Other large investors have also recently modified their holdings of the company. Wayfinding Financial LLC purchased a new position in shares of Regency Centers in the first quarter worth about $25,000. Heck Capital Advisors LLC purchased a new position in shares of Regency Centers in the fourth quarter worth about $26,000. TD Waterhouse Canada Inc. increased its holdings in shares of Regency Centers by 48,700.0% in the fourth 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 period. Canada Post Corp Registered Pension Plan purchased a new position in shares of Regency Centers in the fourth quarter worth about $39,000. Finally, Sentry Investment Management LLC purchased a new position in shares of Regency Centers in the first quarter worth about $38,000. Hedge funds and other institutional investors own 96.07% of the company's stock.

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 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 in the company, valued at $2,395,518.36. The trade was a 11.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on REG shares. Wells Fargo & Company cut their target price on Regency Centers from $80.00 to $79.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 26th. Scotiabank cut their target price 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. Wall Street Zen cut Regency Centers from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Barclays started coverage on Regency Centers in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $77.00 target price on the stock. Finally, Truist Financial raised their target price 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 issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $78.00.

Regency Centers Stock Performance

Regency Centers stock opened at $69.26 on Friday. The stock's 50 day simple moving average is $71.50 and its two-hundred day simple moving average is $72.00. Regency Centers Corporation has a fifty-two week low of $62.92 and a fifty-two week high of $78.18. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 32.67, a PEG ratio of 3.36 and a beta of 1.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.01.

Regency Centers (NASDAQ:REG - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.01. Regency Centers had a net margin of 27.21% and a return on equity of 5.98%. The firm had revenue of $370.35 million during the quarter, compared to analyst estimates of $364.64 million. During the same period last year, the business earned $1.08 earnings per share. As a group, analysts expect that Regency Centers Corporation will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th were issued a dividend of $0.705 per share. The ex-dividend date was Wednesday, June 11th. This represents a $2.82 annualized dividend and a dividend yield of 4.07%. Regency Centers's payout ratio is 133.02%.

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.

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