Regency Centers (NASDAQ:REG) Chairman Martin Stein Jr Sells 274,615 Shares

Key Points

• Regency Centers Chairman Martin Stein Jr. sold 274,615 shares on May 4 at an average price of $78.40, totaling $21,529,816, according to an SEC filing.
• The REIT recently paid a quarterly dividend of $0.755 (annualized $3.02) for a yield of 3.8%, but its dividend payout ratio is elevated at 104.14%.
• Shares trade around $78.89 with a $14.44 billion market cap, and Wall Street shows a cautiously positive view with a consensus "Moderate Buy" and an average target of $81 (several firms have raised targets to $85).

Regency Centers Corporation (NASDAQ:REG - Get Free Report) Chairman Martin Stein, Jr. sold 274,615 shares of the firm's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $78.40, for a total transaction of $21,529,816.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Regency Centers Trading Up 0.2%

NASDAQ REG traded up $0.14 on Tuesday, hitting $78.89. 1,260,758 shares of the stock were exchanged, compared to its average volume of 1,504,426. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 2.06. The stock has a fifty day moving average price of $77.88 and a two-hundred day moving average price of $73.37. The firm has a market capitalization of $14.44 billion, a P/E ratio of 27.20, a P/E/G ratio of 3.38 and a beta of 0.82. Regency Centers Corporation has a 52-week low of $66.86 and a 52-week high of $81.66.

Regency Centers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th were paid a $0.755 dividend. This represents a $3.02 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Wednesday, March 11th. Regency Centers's dividend payout ratio (DPR) is currently 104.14%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Havemeyer Place LP acquired a new stake in shares of Regency Centers in the 4th quarter worth $26,000. Brown Brothers Harriman & Co. increased its stake in shares of Regency Centers by 63.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company's stock worth $30,000 after acquiring an additional 157 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Regency Centers in the 2nd quarter worth $31,000. Hantz Financial Services Inc. increased its stake in shares of Regency Centers by 388.9% in the 4th quarter. Hantz Financial Services Inc. now owns 440 shares of the company's stock worth $30,000 after acquiring an additional 350 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Regency Centers in the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 96.07% of the company's stock.

Wall Street Analyst Weigh In

REG has been the subject of a number of research reports. Barclays upped their price objective on shares of Regency Centers from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Monday, March 2nd. Weiss Ratings raised shares of Regency Centers from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, February 17th. Mizuho reaffirmed a "neutral" rating and issued a $74.00 price objective (down from $77.00) on shares of Regency Centers in a research note on Friday, January 9th. Wells Fargo & Company boosted their target price on shares of Regency Centers from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. Finally, Citigroup boosted their target price on shares of Regency Centers from $76.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $81.00.

Regency Centers Company Profile

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.