Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Holdings in Regency Centers Corporation (NASDAQ:REG)

Key Points

• Zurcher Kantonalbank has reduced its stake in Regency Centers Corporation by 28.3%, now holding approximately 263,469 shares valued at $19.43 million.
• Regency Centers reported a quarterly earnings per share (EPS) of $1.16, exceeding analyst estimates of $1.12, with a net margin of 27.21% and a year-over-year revenue increase of 6.6%.
• The company declared a quarterly dividend of $0.705 per share, with an annualized yield of 3.93%, and currently has a dividend payout ratio of 133.02%.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in Regency Centers Corporation (NASDAQ:REG - Free Report) by 28.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 263,469 shares of the company's stock after selling 103,769 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.15% of Regency Centers worth $19,433,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. State of Wyoming grew its stake in shares of Regency Centers by 11.3% in the fourth quarter. State of Wyoming now owns 1,543 shares of the company's stock valued at $114,000 after buying an additional 157 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in 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 buying an additional 160 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Regency Centers by 4.6% during the 1st quarter. Proficio Capital Partners LLC now owns 3,847 shares of the company's stock worth $284,000 after purchasing an additional 170 shares during the period. Brown Advisory Inc. raised its position 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 worth $5,262,000 after buying an additional 196 shares during the period. Finally, IFM Investors Pty Ltd raised its position in shares of Regency Centers by 0.3% in the 1st quarter. IFM Investors Pty Ltd now owns 73,926 shares of the company's stock worth $5,340,000 after buying an additional 236 shares during the period. 96.07% of the stock is owned by institutional investors and hedge funds.

Regency Centers Stock Down 1.1%

Shares of REG stock traded down $0.77 on Friday, hitting $70.63. The stock had a trading volume of 512,005 shares, compared to its average volume of 1,086,663. The company has a market cap of $12.82 billion, a PE ratio of 33.05, a P/E/G ratio of 3.47 and a beta of 1.00. The company has a quick ratio of 1.01, a current ratio of 1.13 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $70.89 and a 200 day moving average price of $71.81. Regency Centers Corporation has a one year low of $63.44 and a one year high of $78.18.

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

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.705 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 4.0%. Regency Centers's payout ratio is currently 131.78%.

Insider Activity at Regency Centers

In other Regency Centers 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 in the company, valued at approximately $2,395,518.36. The trade was a 11.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on REG. Evercore ISI increased their price target on shares of Regency Centers from $79.00 to $80.00 and gave the stock an "in-line" rating in a research report on Wednesday. Barclays initiated coverage on shares of Regency Centers in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $77.00 price objective on the stock. Scotiabank decreased their target price on shares of 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. Mizuho dropped their target price on shares of Regency Centers from $79.00 to $74.00 and set an "outperform" rating on the stock in a report on Thursday, July 17th. Finally, Wall Street Zen downgraded shares of Regency Centers from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $77.92.

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.