First Manhattan CO. LLC. Sells 519 Shares of Regency Centers Co. (NASDAQ:REG)

First Manhattan CO. LLC. decreased its holdings in shares of Regency Centers Co. (NASDAQ:REG) by 0.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,798 shares of the company’s stock after selling 519 shares during the quarter. First Manhattan CO. LLC.’s holdings in Regency Centers were worth $5,881,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Regency Centers during the fourth quarter worth $1,262,425,000. JPMorgan Chase & Co. increased its stake in shares of Regency Centers by 0.5% during the 4th quarter. JPMorgan Chase & Co. now owns 11,141,771 shares of the company’s stock worth $823,711,000 after purchasing an additional 51,424 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Regency Centers by 1.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,440,384 shares of the company’s stock worth $771,859,000 after purchasing an additional 171,047 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Regency Centers by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company’s stock valued at $678,873,000 after purchasing an additional 366,427 shares during the period. Finally, Invesco Ltd. grew its holdings in Regency Centers by 121.2% during the fourth quarter. Invesco Ltd. now owns 5,374,450 shares of the company’s stock worth $397,333,000 after purchasing an additional 2,944,854 shares during the period. Institutional investors own 96.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on REG. Scotiabank cut their price objective on Regency Centers from $80.00 to $76.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. Wells Fargo & Company cut their price target on Regency Centers from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Regency Centers presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.08.

Regency Centers Trading Up 0.7 %

REG stock opened at $72.38 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 0.85. The company has a market capitalization of $13.14 billion, a PE ratio of 34.14, a price-to-earnings-growth ratio of 3.75 and a beta of 1.02. Regency Centers Co. has a 52 week low of $58.19 and a 52 week high of $78.18. The company’s 50-day simple moving average is $71.61 and its 200 day simple moving average is $72.74.

Regency Centers (NASDAQ:REG) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.01. The company had revenue of $370.35 million during the quarter, compared to the consensus estimate of $364.64 million. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. During the same period in the previous year, the business earned $1.08 earnings per share. As a group, sell-side analysts anticipate that Regency Centers Co. will post 4.54 earnings per share for the current year.

Regency Centers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Wednesday, June 11th will be given a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Wednesday, June 11th. Regency Centers’s payout ratio is currently 133.02%.

Insider Activity at Regency Centers

In other news, CFO Michael J. Mas sold 20,000 shares of Regency Centers stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total value of $1,472,000.00. Following the transaction, the chief financial officer now owns 54,020 shares in the company, valued at approximately $3,975,872. This trade represents a 27.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total value of $3,674,000.00. Following the sale, the chairman now owns 110,263 shares of the company’s stock, valued at approximately $8,102,125.24. This represents a 31.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock valued at $6,977,500 over the last quarter. 1.00% of the stock is owned by corporate insiders.

About Regency Centers

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.