Thrivent Financial for Lutherans Sells 49,938 Shares of Regency Centers Co. (NASDAQ:REG)

Thrivent Financial for Lutherans lessened its position in Regency Centers Co. (NASDAQ:REG) by 62.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,169 shares of the company’s stock after selling 49,938 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Regency Centers were worth $2,179,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in REG. California State Teachers Retirement System lifted its holdings in shares of Regency Centers by 2.3% in the 1st quarter. California State Teachers Retirement System now owns 250,903 shares of the company’s stock worth $15,195,000 after acquiring an additional 5,757 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Regency Centers by 280.8% in the 1st quarter. Tidal Investments LLC now owns 14,265 shares of the company’s stock worth $864,000 after acquiring an additional 10,519 shares during the last quarter. iA Global Asset Management Inc. lifted its holdings in shares of Regency Centers by 22.0% in the 1st quarter. iA Global Asset Management Inc. now owns 6,467 shares of the company’s stock worth $392,000 after acquiring an additional 1,165 shares during the last quarter. Plato Investment Management Ltd bought a new stake in Regency Centers during the 1st quarter valued at about $524,000. Finally, Walleye Trading LLC bought a new stake in Regency Centers during the 1st quarter valued at about $2,583,000. Institutional investors own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on REG. Raymond James raised their target price on shares of Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Scotiabank lifted their price objective on shares of Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Wells Fargo & Company lifted their price objective on shares of Regency Centers from $69.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Evercore ISI raised shares of Regency Centers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Truist Financial lifted their price objective on shares of Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Regency Centers currently has a consensus rating of “Buy” and an average target price of $77.08.

Regency Centers Stock Performance

Shares of NASDAQ REG opened at $75.91 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.65. Regency Centers Co. has a 12 month low of $56.51 and a 12 month high of $76.14. The company has a 50 day simple moving average of $72.42 and a two-hundred day simple moving average of $68.09. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 4.08 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.50). Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. The business had revenue of $360.27 million for the quarter, compared to analyst estimates of $355.17 million. During the same quarter in the previous year, the firm posted $1.02 earnings per share. As a group, analysts predict that Regency Centers Co. will post 4.28 earnings per share for the current year.

Regency Centers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 16th will be issued a $0.705 dividend. This represents a $2.82 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s payout ratio is presently 125.82%.

About Regency Centers

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.