Y Intercept Hong Kong Ltd Invests $953,000 in Regency Centers Co. (NASDAQ:REG)

Y Intercept Hong Kong Ltd acquired a new stake in Regency Centers Co. (NASDAQ:REG) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 13,198 shares of the company’s stock, valued at approximately $953,000.

Other hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Regency Centers by 1,138.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,075,753 shares of the company’s stock valued at $149,932,000 after purchasing an additional 1,908,153 shares in the last quarter. Waterfront Capital Partners LLC purchased a new stake in Regency Centers in the 3rd quarter valued at approximately $33,628,000. Principal Financial Group Inc. grew its holdings in Regency Centers by 4.2% during the 2nd quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock valued at $555,009,000 after buying an additional 357,091 shares during the last quarter. National Bank of Canada FI increased its position in Regency Centers by 701.7% during the third quarter. National Bank of Canada FI now owns 361,597 shares of the company’s stock worth $26,118,000 after buying an additional 316,496 shares in the last quarter. Finally, abrdn plc raised its holdings in shares of Regency Centers by 199.7% in the third quarter. abrdn plc now owns 375,059 shares of the company’s stock worth $27,006,000 after acquiring an additional 249,929 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Regency Centers Price Performance

REG stock opened at $75.31 on Friday. The company has a market cap of $13.67 billion, a PE ratio of 35.36, a price-to-earnings-growth ratio of 4.08 and a beta of 1.22. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average price of $73.08 and a two-hundred day moving average price of $69.16. Regency Centers Co. has a 12-month low of $56.51 and a 12-month high of $76.53.

Regency Centers (NASDAQ:REG) last issued its 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 previous year, the firm posted $1.02 EPS. As a group, research analysts predict that Regency Centers Co. will post 4.28 EPS for the current year.

Regency Centers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 16th will be paid a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Monday, December 16th. This is an increase from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s dividend payout ratio (DPR) is currently 132.39%.

Wall Street Analyst Weigh In

A number of research firms recently commented on REG. Evercore ISI raised Regency Centers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft downgraded shares of Regency Centers from a “buy” rating to a “hold” rating and lifted their price target for the stock from $70.00 to $75.00 in a report on Thursday, September 26th. Robert W. Baird upped their price objective on shares of Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company lifted their target price on shares of Regency Centers from $69.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Finally, Mizuho raised their price objective on Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Two research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Regency Centers currently has a consensus rating of “Buy” and an average target price of $77.08.

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.