Zurcher Kantonalbank Zurich Cantonalbank Sells 16,371 Shares of Regency Centers Corporation $REG

Key Points

• Zurcher Kantonalbank trimmed its stake in Regency Centers (NASDAQ:REG) by 7.8%, selling 16,371 shares and leaving it with 193,744 shares (about 0.11% of the company) valued at roughly $13.37 million.
• Chairman Martin E. Stein Jr. sold 38,000 shares at an average price of $77.21 for about $2.93 million, cutting his ownership by 19.4% to 157,892 shares; insiders have sold 177,490 shares in the last 90 days and now own about 1% of the stock.
• Regency declared a quarterly dividend of $0.755 ($3.02 annual), yielding about 3.8%, but its dividend payout ratio is high at 107.86%, indicating dividend payments exceed current earnings.

Zurcher Kantonalbank Zurich Cantonalbank cut its position in Regency Centers Corporation (NASDAQ:REG - Free Report) by 7.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 193,744 shares of the company's stock after selling 16,371 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.11% of Regency Centers worth $13,374,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of REG. Massachusetts Financial Services Co. MA purchased a new stake in shares of Regency Centers during the third quarter worth about $107,144,000. Alyeska Investment Group L.P. purchased a new stake in shares of Regency Centers during the third quarter worth about $47,563,000. UBS Group AG grew its stake in shares of Regency Centers by 78.8% during the third quarter. UBS Group AG now owns 1,337,215 shares of the company's stock worth $97,483,000 after acquiring an additional 589,327 shares during the last quarter. National Bank of Canada FI grew its stake in shares of Regency Centers by 334.6% during the third quarter. National Bank of Canada FI now owns 495,964 shares of the company's stock worth $36,156,000 after acquiring an additional 381,833 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Regency Centers by 3.1% during the third quarter. State Street Corp now owns 12,403,992 shares of the company's stock worth $912,739,000 after acquiring an additional 368,031 shares during the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

Insider Buying and Selling

In related news, Chairman Martin E. Stein, Jr. sold 38,000 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $77.21, for a total value of $2,933,980.00. Following the sale, the chairman owned 157,892 shares in the company, valued at $12,190,841.32. This represents a 19.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 177,490 shares of company stock valued at $13,839,932 in the last 90 days. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on REG shares. UBS Group set a $76.00 price target on Regency Centers in a research note on Wednesday, January 14th. Citigroup boosted their price target on Regency Centers from $75.00 to $76.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 10th. Truist Financial boosted their price target on Regency Centers from $77.00 to $84.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Barclays boosted their price target on Regency Centers from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Monday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft upgraded Regency Centers from a "hold" rating to a "buy" rating and set a $83.00 price target on the stock in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.36.

Regency Centers Price Performance

Shares of NASDAQ REG opened at $79.00 on Thursday. The business's 50 day moving average price is $77.41 and its 200 day moving average price is $72.95. The firm has a market cap of $14.46 billion, a P/E ratio of 28.21, a P/E/G ratio of 3.44 and a beta of 0.90. Regency Centers Corporation has a 52 week low of $66.86 and a 52 week high of $81.66. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.68.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th were given a $0.755 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $3.02 dividend on an annualized basis and a yield of 3.8%. Regency Centers's dividend payout ratio is currently 107.86%.

About Regency Centers

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company's portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.