Insider Selling: Regency Centers Co. (NASDAQ:REG) Chairman Sells 25,000 Shares of Stock

Regency Centers Co. (NASDAQ:REG) Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the transaction, the chairman now owns 307,199 shares in the company, valued at $21,503,930. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Regency Centers Stock Down 2.7 %

REG stock traded down $1.88 during trading on Monday, hitting $68.41. 1,770,580 shares of the stock traded hands, compared to its average volume of 1,157,608. The stock has a market cap of $12.64 billion, a price-to-earnings ratio of 34.29, a price-to-earnings-growth ratio of 5.00 and a beta of 1.21. Regency Centers Co. has a 1 year low of $56.29 and a 1 year high of $71.30. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.37 and a quick ratio of 1.37. The firm’s 50 day moving average is $62.94 and its two-hundred day moving average is $61.29.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.48). The business had revenue of $357.25 million for the quarter, compared to analysts’ expectations of $361.56 million. Regency Centers had a return on equity of 5.58% and a net margin of 27.60%. During the same quarter in the prior year, the business earned $1.03 EPS. On average, sell-side analysts anticipate that Regency Centers Co. will post 4.19 EPS for the current year.

Regency Centers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Thursday, September 12th. Regency Centers’s payout ratio is presently 130.73%.

Wall Street Analysts Forecast Growth

REG has been the topic of a number of recent research reports. 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 report on Monday, May 20th. Mizuho raised Regency Centers from a “neutral” rating to an “outperform” rating and increased their price target for the company from $61.00 to $67.00 in a research report on Tuesday, July 9th. Finally, Scotiabank dropped their price objective on Regency Centers from $68.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 16th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Regency Centers has an average rating of “Moderate Buy” and a consensus target price of $70.64.

Institutional Trading of Regency Centers

A number of institutional investors have recently made changes to their positions in REG. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Regency Centers by 18.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 312,155 shares of the company’s stock worth $18,904,000 after acquiring an additional 49,188 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Regency Centers by 36.9% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 375,952 shares of the company’s stock worth $25,189,000 after acquiring an additional 101,260 shares in the last quarter. FORA Capital LLC grew its position in shares of 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 purchasing an additional 20,840 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 during the last quarter. Finally, NewEdge Wealth LLC purchased a new position in shares of Regency Centers during the 4th quarter worth $275,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

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.