Metis Global Partners LLC Boosts Stock Position in Regency Centers Co. (NASDAQ:REG)

Metis Global Partners LLC boosted its position in shares of Regency Centers Co. (NASDAQ:REG) by 21.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,217 shares of the company’s stock after acquiring an additional 3,902 shares during the quarter. Metis Global Partners LLC’s holdings in Regency Centers were worth $1,605,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. PGGM Investments increased its position in shares of Regency Centers by 2,586.9% during the second quarter. PGGM Investments now owns 1,670,607 shares of the company’s stock worth $103,912,000 after acquiring an additional 1,608,431 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Regency Centers by 10.7% during the 1st 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 in the last quarter. Vanguard Group Inc. increased its holdings in Regency Centers by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 28,889,033 shares of the company’s stock worth $1,749,520,000 after purchasing an additional 830,572 shares during the period. Principal Financial Group Inc. raised its position in Regency Centers by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock valued at $555,009,000 after purchasing an additional 357,091 shares in the last quarter. Finally, abrdn plc boosted its stake in shares of Regency Centers by 199.7% in the 3rd quarter. abrdn plc now owns 375,059 shares of the company’s stock valued at $27,006,000 after buying an additional 249,929 shares during the period. 96.07% of the stock is owned by institutional investors and hedge funds.

Regency Centers Price Performance

REG opened at $73.66 on Friday. Regency Centers Co. has a one year low of $56.51 and a one year high of $75.26. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $13.37 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 4.55 and a beta of 1.21. The business’s 50-day simple moving average is $72.39 and its 200-day simple moving average is $67.24.

Regency Centers (NASDAQ:REG) last released its quarterly earnings results on Monday, October 28th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.50). Regency Centers had a return on equity of 5.85% and a net margin of 27.78%. The firm had revenue of $360.27 million for the quarter, compared to analysts’ expectations of $355.17 million. During the same quarter in the prior year, the business earned $1.02 EPS. Analysts anticipate that Regency Centers Co. will post 4.28 EPS for the current year.

Regency Centers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 16th will be given a $0.705 dividend. This is an increase from Regency Centers’s previous quarterly dividend of $0.67. The ex-dividend date is Monday, December 16th. This represents a $2.82 annualized dividend and a yield of 3.83%. Regency Centers’s dividend payout ratio is 132.39%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Evercore ISI raised shares of Regency Centers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft lowered shares of Regency Centers from a “buy” rating to a “hold” rating and raised their price objective for the company from $70.00 to $75.00 in a report on Thursday, September 26th. KeyCorp initiated coverage on shares of Regency Centers in a research note on Friday, October 25th. They set an “overweight” rating and a $80.00 target price for the company. Mizuho raised their price target on Regency Centers from $67.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, Robert W. Baird upped their price objective on Regency Centers from $71.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $76.92.

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.