Prudential PLC Decreases Stake in Regency Centers Corporation $REG

Prudential PLC reduced its position in Regency Centers Corporation (NASDAQ:REG) by 91.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,808 shares of the company’s stock after selling 60,168 shares during the period. Prudential PLC’s holdings in Regency Centers were worth $401,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Regency Centers in the fourth quarter worth about $1,183,667,000. State Street Corp lifted its position in shares of Regency Centers by 3.1% in the third quarter. State Street Corp now owns 12,403,992 shares of the company’s stock worth $912,739,000 after buying an additional 368,031 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Regency Centers by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 4,915,089 shares of the company’s stock worth $338,110,000 after buying an additional 67,739 shares in the last quarter. Boston Partners increased its stake in Regency Centers by 2.1% during the third quarter. Boston Partners now owns 3,540,137 shares of the company’s stock worth $258,062,000 after acquiring an additional 72,584 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Regency Centers by 75.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,806,165 shares of the company’s stock worth $124,680,000 after acquiring an additional 775,609 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Martin E. Stein, Jr. sold 274,615 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was 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 SEC, which is accessible through this link. Also, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $79.06, for a total value of $626,708.62. Following the transaction, the insider directly owned 33,069 shares in the company, valued at approximately $2,614,435.14. This represents a 19.34% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 320,542 shares of company stock worth $25,090,505. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

REG has been the topic of several analyst reports. Morgan Stanley boosted their price objective on Regency Centers from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft cut Regency Centers from a “buy” rating to a “hold” rating and set a $85.00 price objective on the stock. in a research note on Friday, May 29th. Wells Fargo & Company boosted their price objective on Regency Centers from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Scotiabank boosted their price objective on Regency Centers from $76.00 to $82.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 24th. Finally, Truist Financial boosted their price objective on Regency Centers from $77.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $82.07.

Regency Centers Trading Down 0.2%

REG opened at $77.56 on Tuesday. The stock has a market cap of $14.20 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 3.29 and a beta of 0.81. The stock’s 50 day moving average price is $78.02 and its 200-day moving average price is $74.55. Regency Centers Corporation has a one year low of $66.86 and a one year high of $81.66. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14.

Regency Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Friday, June 12th will be paid a dividend of $0.755 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.02 dividend on an annualized basis and a dividend yield of 3.9%. Regency Centers’s dividend payout ratio is currently 104.14%.

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.