Prudential Financial Inc. Increases Stake in Regency Centers Co. (NASDAQ:REG)

Prudential Financial Inc. grew its holdings in Regency Centers Co. (NASDAQ:REG) by 51.7% during the 4th quarter, Holdings Channel reports. The fund owned 2,155,589 shares of the company’s stock after buying an additional 734,210 shares during the period. Prudential Financial Inc.’s holdings in Regency Centers were worth $159,363,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Heck Capital Advisors LLC bought a new position in shares of Regency Centers in the fourth quarter worth approximately $26,000. National Pension Service purchased a new position in shares of Regency Centers during the 4th quarter valued at $27,000. Catalyst Capital Advisors LLC bought a new position in Regency Centers in the 4th quarter worth $54,000. Venturi Wealth Management LLC increased its stake in Regency Centers by 4,400.0% in the 4th quarter. Venturi Wealth Management LLC now owns 855 shares of the company’s stock worth $63,000 after buying an additional 836 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in Regency Centers by 84.8% during the third quarter. Quest Partners LLC now owns 937 shares of the company’s stock valued at $68,000 after acquiring an additional 430 shares during the period. 96.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

REG has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Mizuho increased their price objective on shares of Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Evercore ISI lowered their target price on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. Finally, BTIG Research upped their target price on shares of Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Regency Centers currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.08.

Regency Centers Stock Down 0.7 %

Shares of NASDAQ:REG opened at $71.50 on Monday. The company has a 50-day moving average price of $72.97 and a 200 day moving average price of $73.00. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. Regency Centers Co. has a 12 month low of $56.51 and a 12 month high of $78.18. The company has a market cap of $12.97 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.61. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. As a group, equities research analysts predict that Regency Centers Co. will post 4.54 earnings per share for the current year.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.705 dividend. This represents a $2.82 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Wednesday, March 12th. Regency Centers’s dividend payout ratio is currently 133.02%.

Insider Transactions at Regency Centers

In related news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the completion of the sale, the chairman now directly owns 110,263 shares of the company’s stock, valued at approximately $8,102,125.24. This trade represents a 31.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lisa Palmer sold 25,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total value of $1,831,500.00. Following the completion of the transaction, the chief executive officer now directly owns 139,923 shares in the company, valued at $10,250,758.98. This trade represents a 15.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,000 shares of company stock worth $6,977,500. 1.00% of the stock is currently owned by insiders.

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.