Insider Selling: Regency Centers (NASDAQ:REG) Chairman Sells 38,000 Shares of Stock

Regency Centers Corporation (NASDAQ:REG) Chairman Martin Stein, Jr. sold 38,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $77.21, for a total value of $2,933,980.00. Following the completion of the transaction, the chairman directly owned 157,892 shares of the company’s stock, valued at approximately $12,190,841.32. This trade represents a 19.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Regency Centers Price Performance

Shares of NASDAQ REG traded down $0.49 during mid-day trading on Wednesday, reaching $77.67. The company’s stock had a trading volume of 1,023,214 shares, compared to its average volume of 1,214,346. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50-day moving average of $73.90 and a two-hundred day moving average of $71.79. The stock has a market capitalization of $14.21 billion, a P/E ratio of 16.88, a P/E/G ratio of 3.36 and a beta of 0.91. Regency Centers Corporation has a 1-year low of $63.44 and a 1-year high of $79.89.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be issued a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Wednesday, March 11th. Regency Centers’s dividend payout ratio (DPR) is 107.86%.

Wall Street Analyst Weigh In

REG has been the topic of a number of recent research reports. Citigroup upped their target price on shares of Regency Centers from $75.00 to $76.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 10th. Weiss Ratings raised Regency Centers from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. Robert W. Baird set a $84.00 price objective on Regency Centers in a research report on Tuesday, February 10th. Barclays boosted their price target on shares of Regency Centers from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Finally, Scotiabank dropped their price objective on Regency Centers from $78.00 to $76.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.50.

Hedge Funds Weigh In On Regency Centers

A number of hedge funds have recently made changes to their positions in the business. Norinchukin Bank The grew its stake in shares of Regency Centers by 0.8% in the third quarter. Norinchukin Bank The now owns 17,730 shares of the company’s stock valued at $1,293,000 after buying an additional 147 shares in the last quarter. Park Avenue Securities LLC grew its stake in Regency Centers by 5.2% in the third quarter. Park Avenue Securities LLC now owns 3,040 shares of the company’s stock worth $222,000 after purchasing an additional 149 shares in the last quarter. Telos Capital Management Inc. increased its holdings in shares of Regency Centers by 2.9% in the 4th quarter. Telos Capital Management Inc. now owns 5,378 shares of the company’s stock valued at $371,000 after acquiring an additional 153 shares during the last quarter. Atria Investments Inc lifted its position in shares of Regency Centers by 3.3% in the 2nd quarter. Atria Investments Inc now owns 4,847 shares of the company’s stock worth $345,000 after buying an additional 156 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Regency Centers by 63.1% in the third quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company’s stock valued at $30,000 after acquiring an additional 157 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

About Regency Centers

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company’s portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.