DnB Asset Management AS Raises Holdings in Regency Centers Co. (NASDAQ:REG)

DnB Asset Management AS grew its position in shares of Regency Centers Co. (NASDAQ:REGGet Rating) by 23.6% in the second quarter, HoldingsChannel reports. The firm owned 43,167 shares of the company’s stock after buying an additional 8,251 shares during the quarter. DnB Asset Management AS’s holdings in Regency Centers were worth $2,560,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in REG. Allianz Asset Management GmbH grew its position in shares of Regency Centers by 14.8% during the fourth quarter. Allianz Asset Management GmbH now owns 198,378 shares of the company’s stock valued at $14,948,000 after purchasing an additional 25,622 shares in the last quarter. Ensign Peak Advisors Inc grew its position in shares of Regency Centers by 82.4% during the fourth quarter. Ensign Peak Advisors Inc now owns 53,615 shares of the company’s stock valued at $4,040,000 after purchasing an additional 24,225 shares in the last quarter. Gamco Investors INC. ET AL grew its position in shares of Regency Centers by 517.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 49,400 shares of the company’s stock valued at $3,722,000 after purchasing an additional 41,400 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Regency Centers by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,384,464 shares of the company’s stock valued at $254,451,000 after purchasing an additional 15,716 shares in the last quarter. Finally, Gotham Asset Management LLC bought a new position in shares of Regency Centers in the 4th quarter valued at about $1,014,000. Hedge funds and other institutional investors own 90.32% of the company’s stock.

Wall Street Analysts Forecast Growth

REG has been the subject of a number of analyst reports. Jefferies Financial Group lowered their price target on shares of Regency Centers from $79.00 to $69.00 in a report on Thursday, June 30th. Morgan Stanley increased their price target on shares of Regency Centers from $57.50 to $62.00 and gave the company an “equal weight” rating in a report on Monday, August 29th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Regency Centers from $83.00 to $72.00 in a report on Monday, July 11th. Credit Suisse Group initiated coverage on shares of Regency Centers in a report on Wednesday, June 22nd. They issued a “neutral” rating and a $56.00 price target for the company. Finally, BTIG Research lowered their price target on shares of Regency Centers from $77.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, July 6th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $69.91.

Regency Centers Stock Down 3.4 %

Shares of NASDAQ REG opened at $56.87 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market cap of $9.80 billion, a P/E ratio of 20.10, a PEG ratio of 4.17 and a beta of 1.10. Regency Centers Co. has a 1 year low of $55.78 and a 1 year high of $78.78. The firm has a 50-day simple moving average of $62.92 and a two-hundred day simple moving average of $62.23.

Regency Centers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Thursday, September 15th will be paid a $0.625 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $2.50 annualized dividend and a yield of 4.40%. Regency Centers’s dividend payout ratio (DPR) is currently 88.34%.

Regency Centers Company Profile

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Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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.

See Also

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Institutional Ownership by Quarter for Regency Centers (NASDAQ:REG)

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