PGGM Investments Purchases 1,608,431 Shares of Regency Centers Co. (NASDAQ:REG)

PGGM Investments grew its position in Regency Centers Co. (NASDAQ:REG) by 2,586.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,670,607 shares of the company’s stock after buying an additional 1,608,431 shares during the period. Regency Centers makes up about 1.5% of PGGM Investments’ investment portfolio, making the stock its 19th largest holding. PGGM Investments owned about 0.90% of Regency Centers worth $103,912,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Regency Centers by 18.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 312,155 shares of the company’s stock valued at $18,904,000 after buying an additional 49,188 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC increased its position in Regency Centers by 36.9% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 375,952 shares of the company’s stock valued at $25,189,000 after acquiring an additional 101,260 shares during the last quarter. FORA Capital LLC lifted its holdings in Regency Centers by 493.7% in the first quarter. FORA Capital LLC now owns 25,061 shares of the company’s stock valued at $1,518,000 after acquiring an additional 20,840 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Regency Centers by 10.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock worth $547,995,000 after purchasing an additional 873,062 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Regency Centers by 14.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 116,726 shares of the company’s stock worth $6,998,000 after purchasing an additional 14,410 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Insider Activity

In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the sale, the chairman now directly owns 307,199 shares in the company, valued at $21,503,930. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% of the company’s stock.

Regency Centers Price Performance

NASDAQ REG traded up $0.37 during trading on Wednesday, hitting $70.26. 663,692 shares of the stock traded hands, compared to its average volume of 1,146,256. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. Regency Centers Co. has a 12-month low of $56.29 and a 12-month high of $71.30. The firm has a 50-day simple moving average of $64.43 and a 200-day simple moving average of $61.68. The company has a market capitalization of $12.75 billion, a P/E ratio of 34.27, a price-to-earnings-growth ratio of 5.10 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last posted its earnings results on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.48). The firm had revenue of $357.25 million for the quarter, compared to the consensus estimate of $361.56 million. Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. During the same quarter in the prior year, the company posted $1.03 earnings per share. As a group, analysts predict that Regency Centers Co. will post 4.22 EPS for the current year.

Regency Centers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.68 dividend on an annualized basis and a yield of 3.81%. Regency Centers’s dividend payout ratio (DPR) is presently 130.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on REG shares. Truist Financial lowered their price objective on shares of Regency Centers from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Mizuho upgraded shares of Regency Centers from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $61.00 to $67.00 in a research report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price objective on shares of Regency Centers from $71.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Scotiabank reduced their price objective on Regency Centers from $68.00 to $65.00 and set a “sector perform” rating for the company in a research note on Thursday, May 16th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Regency Centers presently has an average rating of “Moderate Buy” and a consensus target price of $71.17.

Regency Centers 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.