New York Life Investment Management LLC Grows Stake in Regency Centers Co. (NASDAQ:REG)

New York Life Investment Management LLC increased its stake in Regency Centers Co. (NASDAQ:REG) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,269 shares of the company’s stock after purchasing an additional 351 shares during the period. New York Life Investment Management LLC’s holdings in Regency Centers were worth $2,899,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. lifted its holdings in shares of Regency Centers by 150.1% in the 4th quarter. Victory Capital Management Inc. now owns 31,092 shares of the company’s stock worth $2,083,000 after acquiring an additional 18,658 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in Regency Centers by 1.2% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 1,263,296 shares of the company’s stock worth $84,641,000 after purchasing an additional 14,950 shares during the period. Van ECK Associates Corp lifted its stake in Regency Centers by 14.8% in the fourth quarter. Van ECK Associates Corp now owns 69,293 shares of the company’s stock worth $4,643,000 after purchasing an additional 8,927 shares during the last quarter. Naviter Wealth LLC boosted its position in Regency Centers by 24.1% during the fourth quarter. Naviter Wealth LLC now owns 10,683 shares of the company’s stock valued at $722,000 after buying an additional 2,078 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Regency Centers by 46.6% during the fourth quarter. Russell Investments Group Ltd. now owns 591,246 shares of the company’s stock valued at $39,658,000 after buying an additional 188,033 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Regency Centers Price Performance

Shares of NASDAQ REG opened at $59.00 on Monday. Regency Centers Co. has a 1 year low of $54.72 and a 1 year high of $68.47. The stock has a market capitalization of $10.90 billion, a P/E ratio of 28.78, a P/E/G ratio of 3.88 and a beta of 1.16. The company’s 50-day moving average is $59.74 and its 200 day moving average is $61.71. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.37 and a quick ratio of 0.85.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 12th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Wednesday, June 12th. Regency Centers’s dividend payout ratio is currently 130.73%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on REG. Deutsche Bank Aktiengesellschaft started coverage on Regency Centers in a research note on Tuesday, January 30th. They issued a “buy” rating and a $74.00 target price for the company. Mizuho began coverage on Regency Centers in a research note on Thursday, April 18th. They set a “neutral” rating and a $60.00 price objective for the company. Truist Financial lifted their target price on shares of Regency Centers from $71.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Wells Fargo & Company assumed coverage on shares of Regency Centers in a research report on Thursday, February 1st. They set an “overweight” rating and a $70.00 price target for the company. Finally, Evercore ISI raised shares of Regency Centers from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $69.00 to $71.00 in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Regency Centers presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

Regency Centers Company 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.