Bank of Nova Scotia Decreases Stock Position in Regency Centers Co. (NASDAQ:REG)

Bank of Nova Scotia cut its holdings in Regency Centers Co. (NASDAQ:REGGet Rating) by 37.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 5,253 shares of the company’s stock after selling 3,130 shares during the quarter. Bank of Nova Scotia’s holdings in Regency Centers were worth $312,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in REG. CIBC Asset Management Inc raised its stake in shares of Regency Centers by 1.0% in the first quarter. CIBC Asset Management Inc now owns 15,652 shares of the company’s stock worth $1,117,000 after purchasing an additional 148 shares during the last quarter. Brinker Capital Investments LLC raised its stake in shares of Regency Centers by 5.3% in the first quarter. Brinker Capital Investments LLC now owns 3,215 shares of the company’s stock worth $229,000 after purchasing an additional 161 shares during the last quarter. Hartford Investment Management Co. raised its stake in shares of Regency Centers by 1.4% in the second quarter. Hartford Investment Management Co. now owns 14,930 shares of the company’s stock worth $885,000 after purchasing an additional 206 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Regency Centers by 5.1% in the second quarter. Exchange Traded Concepts LLC now owns 4,318 shares of the company’s stock worth $256,000 after purchasing an additional 208 shares during the last quarter. Finally, Mutual of America Capital Management LLC raised its stake in shares of Regency Centers by 1.1% in the first quarter. Mutual of America Capital Management LLC now owns 20,564 shares of the company’s stock worth $1,467,000 after purchasing an additional 220 shares during the last quarter. 90.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on REG. StockNews.com began coverage on Regency Centers in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Barclays reduced their price objective on Regency Centers to $62.00 in a research note on Thursday, October 27th. Evercore ISI reduced their price objective on Regency Centers to $67.00 in a research note on Thursday, October 20th. Truist Financial raised their target price on Regency Centers from $67.00 to $75.00 in a report on Monday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Regency Centers from $72.00 to $69.00 and set a “buy” rating on the stock in a report on Friday, October 7th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Regency Centers has a consensus rating of “Hold” and a consensus target price of $69.18.

Regency Centers Stock Performance

Shares of Regency Centers stock opened at $65.59 on Monday. Regency Centers Co. has a one year low of $51.97 and a one year high of $78.78. The company has a market cap of $11.22 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 3.35 and a beta of 1.12. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50 day moving average price is $58.17 and its 200 day moving average price is $60.39.

Regency Centers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Friday, December 16th will be given a dividend of $0.65 per share. This is an increase from Regency Centers’s previous quarterly dividend of $0.63. The ex-dividend date is Thursday, December 15th. This represents a $2.60 dividend on an annualized basis and a yield of 3.96%. Regency Centers’s dividend payout ratio (DPR) is presently 94.34%.

About Regency Centers

(Get Rating)

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.

Further Reading

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

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