Park Avenue Securities LLC Cuts Stake in Regency Centers Co. (NASDAQ:REG)

Park Avenue Securities LLC reduced its holdings in shares of Regency Centers Co. (NASDAQ:REG) by 41.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,054 shares of the company’s stock after selling 4,935 shares during the period. Park Avenue Securities LLC’s holdings in Regency Centers were worth $427,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in Regency Centers in the 4th quarter worth $1,140,242,000. Vanguard Group Inc. lifted its stake in shares of Regency Centers by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 28,378,732 shares of the company’s stock valued at $1,686,832,000 after acquiring an additional 1,645,784 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Regency Centers by 22.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,348,492 shares of the company’s stock valued at $317,914,000 after acquiring an additional 964,488 shares during the period. Russell Investments Group Ltd. grew its position in Regency Centers by 46.6% during the 4th quarter. Russell Investments Group Ltd. now owns 591,246 shares of the company’s stock worth $39,658,000 after acquiring an additional 188,033 shares during the last quarter. Finally, UBS Group AG increased its stake in Regency Centers by 117.0% in the 4th quarter. UBS Group AG now owns 270,748 shares of the company’s stock worth $18,140,000 after purchasing an additional 145,953 shares during the period. 96.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

REG has been the topic of several recent analyst reports. Mizuho raised their target price on shares of Regency Centers from $60.00 to $61.00 and gave the stock a “neutral” rating in a report on Thursday, May 23rd. Scotiabank cut their price target on shares of Regency Centers from $68.00 to $65.00 and set a “sector perform” rating on the stock in a report on Thursday, May 16th. Finally, Truist Financial lowered their price objective on shares of Regency Centers from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, May 20th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Regency Centers currently has an average rating of “Moderate Buy” and a consensus price target of $70.09.

Regency Centers Stock Up 0.3 %

REG stock opened at $62.20 on Friday. The company has a market capitalization of $11.49 billion, a price-to-earnings ratio of 30.34, a price-to-earnings-growth ratio of 4.53 and a beta of 1.19. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.37. The business’s 50 day moving average price is $60.33 and its two-hundred day moving average price is $61.51. Regency Centers Co. has a fifty-two week low of $56.29 and a fifty-two week high of $68.47.

Regency Centers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 12th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 4.31%. The ex-dividend date is Wednesday, June 12th. Regency Centers’s dividend payout ratio is currently 130.73%.

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.