DNB Asset Management AS Grows Position in Regency Centers Co. (NASDAQ:REG)

DNB Asset Management AS lifted its holdings in shares of Regency Centers Co. (NASDAQ:REG) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,206 shares of the company’s stock after purchasing an additional 1,286 shares during the quarter. DNB Asset Management AS’s holdings in Regency Centers were worth $2,003,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of REG. Vanguard Group Inc. boosted 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 valued at $1,749,520,000 after acquiring an additional 830,572 shares during the period. Norges Bank acquired a new stake in Regency Centers in the 4th quarter valued at about $1,140,242,000. Price T Rowe Associates Inc. MD raised its position in Regency Centers by 10.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock valued at $547,995,000 after purchasing an additional 873,062 shares in the last quarter. Principal Financial Group Inc. raised its position in Regency Centers by 16.5% in the 1st quarter. Principal Financial Group Inc. now owns 8,565,897 shares of the company’s stock valued at $518,751,000 after purchasing an additional 1,210,906 shares in the last quarter. Finally, Boston Partners raised its position in Regency Centers by 4.1% in the 1st quarter. Boston Partners now owns 4,192,951 shares of the company’s stock valued at $253,902,000 after purchasing an additional 166,354 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on REG. Mizuho raised Regency Centers from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $61.00 to $67.00 in a research report on Tuesday, July 9th. Truist Financial cut their price target on Regency Centers from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, May 20th. Finally, Scotiabank cut their price target on Regency Centers from $68.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Regency Centers has a consensus rating of “Moderate Buy” and a consensus target price of $70.64.

Regency Centers Stock Performance

Shares of Regency Centers stock traded up $1.38 during trading on Tuesday, reaching $69.79. The company’s stock had a trading volume of 1,116,873 shares, compared to its average volume of 1,157,481. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.37. The business’s fifty day moving average price is $63.12 and its 200-day moving average price is $61.33. The firm has a market cap of $12.90 billion, a price-to-earnings ratio of 34.36, a price-to-earnings-growth ratio of 5.13 and a beta of 1.21. Regency Centers Co. has a one year low of $56.29 and a one year high of $71.30.

Regency Centers (NASDAQ:REG) last released its quarterly earnings data 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 company had revenue of $357.25 million during 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 5.58%. During the same quarter in the prior year, the company posted $1.03 earnings per share. As a group, equities research analysts predict that Regency Centers Co. will post 4.21 earnings per share for the current year.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Thursday, September 12th. Regency Centers’s dividend payout ratio (DPR) is presently 130.73%.

Insider Transactions at Regency Centers

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the firm’s 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 sale, the chairman now directly owns 307,199 shares in the company, valued at $21,503,930. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

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.