Royal Bank of Canada lowered its stake in Regency Centers Corporation (NYSE:REG) by 97.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,742 shares of the real estate investment trust’s stock after selling 294,780 shares during the period. Royal Bank of Canada’s holdings in Regency Centers Corporation were worth $422,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Global X Management Co. LLC purchased a new stake in shares of Regency Centers Corporation in the 2nd quarter worth approximately $179,000. Advisor Group Inc. grew its stake in shares of Regency Centers Corporation by 15.6% in the 2nd quarter. Advisor Group Inc. now owns 2,999 shares of the real estate investment trust’s stock worth $188,000 after buying an additional 404 shares during the last quarter. Riverhead Capital Management LLC grew its stake in shares of Regency Centers Corporation by 342.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,100 shares of the real estate investment trust’s stock worth $194,000 after buying an additional 2,400 shares during the last quarter. Parametrica Management Ltd purchased a new stake in shares of Regency Centers Corporation in the 2nd quarter worth approximately $222,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Regency Centers Corporation in the 2nd quarter worth approximately $224,000. Institutional investors own 90.65% of the company’s stock.
Regency Centers Corporation (NYSE:REG) opened at $66.91 on Wednesday. The firm has a market capitalization of $11,433.13, a price-to-earnings ratio of 18.46, a PEG ratio of 2.24 and a beta of 0.55. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.63 and a current ratio of 0.63. Regency Centers Corporation has a twelve month low of $58.63 and a twelve month high of $72.05.
Regency Centers Corporation (NYSE:REG) last released its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.04. The firm had revenue of $262.14 million for the quarter, compared to analysts’ expectations of $254.04 million. Regency Centers Corporation had a return on equity of 2.82% and a net margin of 17.59%. During the same period in the prior year, the firm earned $0.81 EPS. sell-side analysts predict that Regency Centers Corporation will post 3.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, November 14th. This represents a $2.12 annualized dividend and a dividend yield of 3.17%. Regency Centers Corporation’s payout ratio is 235.56%.
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In other news, Vice Chairman Chaim Katzman sold 1,055,758 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $64.30, for a total transaction of $67,885,239.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary Lou Fiala sold 7,775 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $65.74, for a total value of $511,128.50. Following the transaction, the director now directly owns 17,145 shares in the company, valued at $1,127,112.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,068,033 shares of company stock worth $68,404,918 over the last three months. Insiders own 12.66% of the company’s stock.
Several analysts recently weighed in on REG shares. Boenning Scattergood restated a “hold” rating on shares of Regency Centers Corporation in a research note on Monday, November 6th. BidaskClub upgraded Regency Centers Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Citigroup Inc. set a $70.00 target price on Regency Centers Corporation and gave the company a “hold” rating in a research note on Monday, August 14th. Zacks Investment Research upgraded Regency Centers Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a research note on Thursday, September 21st. Finally, Royal Bank Of Canada upgraded Regency Centers Corporation from an “outperform” rating to a “top pick” rating and increased their target price for the company from $72.00 to $75.00 in a research note on Thursday, August 17th. Seven equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $70.86.
About Regency Centers Corporation
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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