Intact Investment Management Inc. Reduces Holdings in Regency Centers Co. (NASDAQ:REG)

Intact Investment Management Inc. lessened its holdings in Regency Centers Co. (NASDAQ:REG - Free Report) by 56.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,100 shares of the company's stock after selling 32,400 shares during the period. Intact Investment Management Inc.'s holdings in Regency Centers were worth $1,682,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in REG. Invesco Ltd. increased its position in Regency Centers by 115.7% during the 3rd quarter. Invesco Ltd. now owns 4,852,979 shares of the company's stock worth $288,461,000 after buying an additional 2,603,320 shares during the period. Vanguard Group Inc. increased its position in Regency Centers by 6.2% during the 3rd quarter. Vanguard Group Inc. now owns 28,378,732 shares of the company's stock worth $1,686,832,000 after buying an additional 1,645,784 shares during the period. JPMorgan Chase & Co. increased its position in Regency Centers by 22.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,348,492 shares of the company's stock worth $317,914,000 after buying an additional 964,488 shares during the period. Aew Capital Management L P increased its position in Regency Centers by 68.0% during the 3rd quarter. Aew Capital Management L P now owns 1,140,330 shares of the company's stock worth $67,781,000 after buying an additional 461,560 shares during the period. Finally, Barclays PLC increased its position in Regency Centers by 165.6% during the 3rd quarter. Barclays PLC now owns 711,096 shares of the company's stock worth $42,267,000 after buying an additional 443,407 shares during the period. Institutional investors own 96.07% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on REG. Truist Financial increased their price objective on Regency Centers from $71.00 to $72.00 and gave the stock a "buy" rating in a research report on Tuesday, January 16th. Wells Fargo & Company initiated coverage on Regency Centers in a research report on Thursday, February 1st. They issued an "overweight" rating and a $70.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Regency Centers in a research report on Tuesday, January 30th. They issued a "buy" rating and a $74.00 price target on the stock. Evercore ISI upgraded Regency Centers from an "in-line" rating to an "outperform" rating and raised their price target for the stock from $69.00 to $71.00 in a research report on Monday, January 22nd. Finally, Mizuho initiated coverage on Regency Centers in a research note on Thursday, April 18th. They issued a "neutral" rating and a $60.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.73.

Regency Centers Trading Down 1.3 %

Shares of REG stock traded down $0.78 during mid-day trading on Friday, reaching $58.28. 1,398,371 shares of the stock traded hands, compared to its average volume of 1,211,169. The stock's fifty day simple moving average is $59.90 and its two-hundred day simple moving average is $61.73. Regency Centers Co. has a 1-year low of $54.72 and a 1-year high of $68.47. The company has a market cap of $10.77 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 3.84 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.60.

Regency Centers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend was Tuesday, March 12th. Regency Centers's payout ratio is 131.37%.

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.