Regency Centers Co. (NASDAQ:REG) Stake Reduced by DnB Asset Management AS

DnB Asset Management AS lessened its holdings in shares of Regency Centers Co. (NASDAQ:REG) by 11.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 29,134 shares of the company’s stock after selling 3,703 shares during the quarter. DnB Asset Management AS’s holdings in Regency Centers were worth $2,154,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Glenmede Trust Co. NA raised its stake in Regency Centers by 4.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,382 shares of the company’s stock valued at $244,000 after acquiring an additional 141 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Regency Centers by 4.3% in the third quarter. Coldstream Capital Management Inc. now owns 3,950 shares of the company’s stock valued at $286,000 after acquiring an additional 163 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Regency Centers by 3.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,845 shares of the company’s stock valued at $356,000 after acquiring an additional 164 shares during the period. Greenleaf Trust raised its holdings in Regency Centers by 3.8% during the fourth quarter. Greenleaf Trust now owns 4,735 shares of the company’s stock worth $350,000 after purchasing an additional 172 shares in the last quarter. Finally, Groupama Asset Managment lifted its position in Regency Centers by 0.8% in the third quarter. Groupama Asset Managment now owns 27,046 shares of the company’s stock worth $1,954,000 after purchasing an additional 212 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Michael J. Mas sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $73.60, for a total transaction of $1,472,000.00. Following the transaction, the chief financial officer now owns 54,020 shares of the company’s stock, valued at approximately $3,975,872. This trade represents a 27.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lisa Palmer sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the completion of the sale, the chief executive officer now directly owns 139,923 shares of the company’s stock, valued at $10,250,758.98. This represents a 15.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 95,000 shares of company stock worth $6,977,500. Corporate insiders own 1.00% of the company’s stock.

Regency Centers Stock Down 0.3 %

Shares of Regency Centers stock opened at $73.57 on Wednesday. Regency Centers Co. has a 1 year low of $56.51 and a 1 year high of $78.18. The company has a market cap of $13.35 billion, a P/E ratio of 34.70, a P/E/G ratio of 3.75 and a beta of 1.23. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The stock has a 50-day moving average price of $73.20 and a 200 day moving average price of $72.94.

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

Regency Centers Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Wednesday, March 12th. Regency Centers’s dividend payout ratio (DPR) is presently 133.02%.

Analyst Ratings Changes

A number of research firms have recently commented on REG. Wells Fargo & Company dropped their price objective on Regency Centers from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Mizuho boosted their target price on shares of Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Finally, Evercore ISI cut their price objective on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. Three 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.00.

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.