Bank of New York Mellon Corp lessened its position in Regency Centers Corp (NYSE:REG) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,769,114 shares of the real estate investment trust’s stock after selling 200,287 shares during the quarter. Bank of New York Mellon Corp’s holdings in Regency Centers were worth $260,747,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. ZWJ Investment Counsel Inc. bought a new position in Regency Centers in the 4th quarter worth $201,000. Commerzbank Aktiengesellschaft FI bought a new position in Regency Centers in the 4th quarter worth $227,000. Parametrica Management Ltd bought a new position in Regency Centers in the 4th quarter worth $229,000. WINTON GROUP Ltd bought a new position in Regency Centers in the 3rd quarter worth $219,000. Finally, Conning Inc. bought a new position in Regency Centers in the 4th quarter worth $259,000. Hedge funds and other institutional investors own 91.74% of the company’s stock.
Regency Centers Corp (REG) opened at $58.06 on Wednesday. Regency Centers Corp has a twelve month low of $54.87 and a twelve month high of $72.05. The company has a current ratio of 0.94, a quick ratio of 0.63 and a debt-to-equity ratio of 0.53. The stock has a market cap of $9,880.00, a PE ratio of 66.74, a PEG ratio of 2.18 and a beta of 0.43.
Regency Centers announced that its Board of Directors has authorized a stock repurchase plan on Thursday, February 8th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th will be issued a dividend of $0.555 per share. This is an increase from Regency Centers’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.22 annualized dividend and a dividend yield of 3.82%. Regency Centers’s payout ratio is presently 243.68%.
In other news, VP James D. Thompson sold 14,983 shares of Regency Centers stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $68.45, for a total transaction of $1,025,586.35. Following the sale, the vice president now directly owns 48,976 shares in the company, valued at approximately $3,352,407.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alan Todd Roth sold 2,500 shares of Regency Centers stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $69.89, for a total transaction of $174,725.00. Following the sale, the director now owns 7,453 shares in the company, valued at $520,890.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,358,019 shares of company stock worth $139,964,755. Insiders own 12.66% of the company’s stock.
REG has been the topic of several recent analyst reports. Boenning Scattergood reiterated a “hold” rating on shares of Regency Centers in a report on Monday, November 6th. TheStreet downgraded shares of Regency Centers from a “b-” rating to a “c” rating in a report on Thursday, February 8th. Jefferies Group set a $71.00 target price on shares of Regency Centers and gave the stock a “hold” rating in a report on Friday, January 12th. Zacks Investment Research downgraded shares of Regency Centers from a “hold” rating to a “sell” rating in a report on Friday, February 16th. Finally, BTIG Research upgraded shares of Regency Centers from a “neutral” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $71.29.
Regency Centers Company Profile
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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