Sitrin Capital Management LLC Boosts Holdings in Regency Centers Co. (NASDAQ:REG)

Sitrin Capital Management LLC lifted its stake in shares of Regency Centers Co. (NASDAQ:REG) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,518 shares of the company’s stock after purchasing an additional 708 shares during the period. Regency Centers comprises 2.4% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 24th biggest position. Sitrin Capital Management LLC’s holdings in Regency Centers were worth $4,664,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Regency Centers by 1,138.5% in the 3rd 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 shares of Regency Centers in the third quarter valued at about $33,628,000. JPMorgan Chase & Co. increased its position in Regency Centers by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 11,090,347 shares of the company’s stock worth $801,056,000 after purchasing an additional 435,932 shares during the last quarter. Principal Financial Group Inc. raised its stake in Regency Centers by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company’s stock worth $678,873,000 after purchasing an additional 366,427 shares during the period. Finally, National Bank of Canada FI raised its stake 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 purchasing an additional 316,496 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on REG shares. BTIG Research lifted their price target on shares of Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Evercore ISI lowered their target price on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Wells Fargo & Company decreased their price objective on shares of Regency Centers from $81.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Robert W. Baird lifted their target price on shares of Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on Regency Centers from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.08.

Insiders Place Their Bets

In other Regency Centers news, CEO Lisa Palmer sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 139,923 shares of the company’s stock, valued at approximately $10,250,758.98. This trade represents a 15.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael J. Mas sold 20,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.60, for a total value of $1,472,000.00. Following the completion of the sale, the chief financial officer now directly owns 54,020 shares of the company’s stock, valued at $3,975,872. The trade was a 27.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Regency Centers Price Performance

Regency Centers stock opened at $75.45 on Wednesday. The stock has a market cap of $13.68 billion, a P/E ratio of 35.59, a price-to-earnings-growth ratio of 3.75 and a beta of 1.22. The company has a fifty day simple moving average of $72.59 and a 200-day simple moving average of $72.68. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. Regency Centers Co. has a 12-month low of $56.51 and a 12-month high of $76.53.

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

Regency Centers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.705 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $2.82 annualized dividend and a yield of 3.74%. Regency Centers’s dividend payout ratio is currently 133.02%.

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.