National Bank of Canada FI Sells 93,293 Shares of Regency Centers Co. (NASDAQ:REG)

National Bank of Canada FI lowered its position in Regency Centers Co. (NASDAQ:REG) by 67.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 45,101 shares of the company’s stock after selling 93,293 shares during the period. National Bank of Canada FI’s holdings in Regency Centers were worth $2,790,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new position in Regency Centers in the first quarter valued at $27,000. Family Firm Inc. bought a new position in shares of Regency Centers during the second quarter valued at about $44,000. Blue Trust Inc. boosted its holdings in shares of Regency Centers by 582.1% during the second quarter. Blue Trust Inc. now owns 839 shares of the company’s stock worth $51,000 after purchasing an additional 716 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Regency Centers during the first quarter worth about $52,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Regency Centers during the second quarter worth about $60,000. Institutional investors own 96.07% of the company’s stock.

Insider Activity

In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of Regency Centers stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the transaction, the chairman now directly owns 307,199 shares in the company, valued at $21,503,930. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the transaction, the chairman now directly owns 307,199 shares in the company, valued at approximately $21,503,930. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Michael R. Herman sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $69.57, for a total transaction of $69,570.00. Following the completion of the transaction, the vice president now owns 13,010 shares of the company’s stock, valued at $905,105.70. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on REG. Truist Financial increased their target price on shares of Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Wells Fargo & Company increased their target price on shares of Regency Centers from $69.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Compass Point increased their target price on shares of Regency Centers from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday. Scotiabank increased their target price on shares of Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Finally, Raymond James raised their price objective on shares of Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.27.

Regency Centers Price Performance

REG stock opened at $74.43 on Thursday. The firm has a 50 day moving average price of $68.63 and a 200-day moving average price of $63.13. Regency Centers Co. has a 52-week low of $56.29 and a 52-week high of $75.19. The firm has a market capitalization of $13.75 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 4.53 and a beta of 1.21. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93.

Regency Centers (NASDAQ:REG) last released its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.48). Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. The business had revenue of $357.25 million for the quarter, compared to analysts’ expectations of $361.56 million. During the same quarter in the previous year, the business posted $1.03 earnings per share. Equities research analysts forecast that Regency Centers Co. will post 4.23 EPS for the current fiscal year.

Regency Centers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 3rd. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.68 annualized dividend and a dividend yield of 3.60%. Regency Centers’s payout ratio is 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.