Sequoia Financial Advisors LLC Makes New Investment in Regency Centers Co. (NASDAQ:REG)

Sequoia Financial Advisors LLC acquired a new position in Regency Centers Co. (NASDAQ:REG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,799 shares of the company’s stock, valued at approximately $255,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Regency Centers in the fourth quarter valued at $1,011,208,000. Invesco Ltd. raised its stake in shares of Regency Centers by 115.7% in the third quarter. Invesco Ltd. now owns 4,852,979 shares of the company’s stock valued at $288,461,000 after buying an additional 2,603,320 shares during the period. Vanguard Group Inc. raised its stake in shares of Regency Centers by 6.2% in the third quarter. Vanguard Group Inc. now owns 28,378,732 shares of the company’s stock valued at $1,686,832,000 after buying an additional 1,645,784 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Regency Centers by 22.0% in the third quarter. JPMorgan Chase & Co. now owns 5,348,492 shares of the company’s stock valued at $317,914,000 after buying an additional 964,488 shares during the period. Finally, State Street Corp raised its stake in shares of Regency Centers by 8.1% in the first quarter. State Street Corp now owns 11,923,732 shares of the company’s stock valued at $857,927,000 after buying an additional 890,452 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Regency Centers Price Performance

Shares of NASDAQ REG opened at $58.37 on Friday. The stock’s 50-day simple moving average is $60.05 and its two-hundred day simple moving average is $61.65. Regency Centers Co. has a twelve month low of $54.72 and a twelve month high of $68.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $10.79 billion, a P/E ratio of 28.61, a P/E/G ratio of 3.80 and a beta of 1.16.

Regency Centers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Tuesday, March 12th. Regency Centers’s payout ratio is currently 131.37%.

Analyst Upgrades and Downgrades

REG has been the topic of several research reports. Deutsche Bank Aktiengesellschaft assumed coverage on Regency Centers in a research note on Tuesday, January 30th. They issued a “buy” rating and a $74.00 target price on the stock. Wells Fargo & Company assumed coverage on Regency Centers in a research note on Thursday, February 1st. They set an “overweight” rating and a $70.00 price objective on the stock. Evercore ISI upgraded Regency Centers from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $69.00 to $71.00 in a research note on Monday, January 22nd. Truist Financial boosted their price objective on Regency Centers from $71.00 to $72.00 and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, Mizuho assumed coverage on Regency Centers in a research note on Thursday. They set a “neutral” rating and a $60.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Regency Centers has an average rating of “Moderate Buy” and an average price target of $70.73.

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.