Westpac Banking Corp lessened its position in Regency Centers Co. (NASDAQ:REG – Free Report) by 84.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 52,210 shares of the company’s stock after selling 290,580 shares during the period. Westpac Banking Corp’s holdings in Regency Centers were worth $3,225,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of REG. Texas Permanent School Fund Corp raised its holdings in shares of Regency Centers by 0.5% in the 2nd quarter. Texas Permanent School Fund Corp now owns 32,267 shares of the company’s stock worth $1,993,000 after acquiring an additional 158 shares during the last quarter. Brinker Capital Investments LLC boosted its position in shares of Regency Centers by 5.3% during the first quarter. Brinker Capital Investments LLC now owns 3,215 shares of the company’s stock valued at $229,000 after buying an additional 161 shares during the last quarter. Contravisory Investment Management Inc. grew its holdings in Regency Centers by 2.0% during the second quarter. Contravisory Investment Management Inc. now owns 9,036 shares of the company’s stock worth $558,000 after buying an additional 174 shares in the last quarter. New York Life Investment Management LLC raised its position in Regency Centers by 0.8% in the 1st quarter. New York Life Investment Management LLC now owns 22,935 shares of the company’s stock valued at $1,403,000 after buying an additional 193 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its position in Regency Centers by 0.4% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 51,889 shares of the company’s stock valued at $3,175,000 after buying an additional 200 shares during the last quarter. Institutional investors own 90.59% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on REG shares. Raymond James upgraded shares of Regency Centers from a “market perform” rating to an “outperform” rating and set a $69.00 target price for the company in a research note on Tuesday, September 5th. StockNews.com started coverage on shares of Regency Centers in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Argus raised shares of Regency Centers from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Wednesday, September 20th. They noted that the move was a valuation call. Finally, Bank of America reduced their target price on Regency Centers from $79.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Regency Centers has an average rating of “Moderate Buy” and a consensus price target of $71.14.
Regency Centers Stock Performance
NASDAQ:REG traded down $0.92 during trading hours on Thursday, reaching $61.30. The stock had a trading volume of 154,390 shares, compared to its average volume of 958,176. The stock has a market cap of $11.31 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 3.56 and a beta of 1.19. The stock has a 50 day simple moving average of $60.39 and a 200 day simple moving average of $60.94. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.78 and a current ratio of 0.78. Regency Centers Co. has a 12-month low of $54.72 and a 12-month high of $68.56.
Regency Centers Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 3rd. Investors of record on Thursday, December 14th will be issued a $0.67 dividend. The ex-dividend date is Wednesday, December 13th. This represents a $2.68 annualized dividend and a yield of 4.37%. This is a positive change from Regency Centers’s previous quarterly dividend of $0.65. Regency Centers’s dividend payout ratio (DPR) is 122.07%.
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.
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