Regency Centers Co. (NASDAQ:REG) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Regency Centers Co. (NASDAQ:REG) by 19.9% during the third quarter, Holdings Channel.com reports. The firm owned 674,025 shares of the company’s stock after selling 167,183 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Regency Centers were worth $48,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in REG. PGGM Investments grew its position in Regency Centers by 2,586.9% during the second quarter. PGGM Investments now owns 1,670,607 shares of the company’s stock valued at $103,912,000 after buying an additional 1,608,431 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Regency Centers by 10.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock valued at $547,995,000 after acquiring an additional 873,062 shares during the period. Vanguard Group Inc. increased its stake in shares of Regency Centers by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 28,889,033 shares of the company’s stock valued at $1,749,520,000 after purchasing an additional 830,572 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Regency Centers by 4.2% in the 2nd quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock worth $555,009,000 after purchasing an additional 357,091 shares during the period. Finally, abrdn plc boosted its position in Regency Centers by 199.7% during the third quarter. abrdn plc now owns 375,059 shares of the company’s stock worth $27,006,000 after purchasing an additional 249,929 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Regency Centers Price Performance

Shares of REG opened at $73.66 on Friday. Regency Centers Co. has a 52-week low of $56.51 and a 52-week high of $75.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $72.39 and a two-hundred day simple moving average of $67.18. The company has a market capitalization of $13.37 billion, a PE ratio of 34.58, a price-to-earnings-growth ratio of 4.55 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last issued its earnings results on Monday, October 28th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.50). Regency Centers had a return on equity of 5.85% and a net margin of 27.78%. The firm had revenue of $360.27 million for the quarter, compared to analysts’ expectations of $355.17 million. During the same period last year, the firm earned $1.02 earnings per share. As a group, equities analysts forecast that Regency Centers Co. will post 4.28 EPS for the current year.

Regency Centers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 16th will be given a $0.705 dividend. This represents a $2.82 annualized dividend and a yield of 3.83%. This is a positive change from Regency Centers’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Monday, December 16th. Regency Centers’s dividend payout ratio is presently 132.39%.

Analyst Ratings Changes

Several research analysts have recently weighed in on REG shares. Raymond James upped their target price on Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Scotiabank lifted their target price on shares of Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. KeyCorp started coverage on shares of Regency Centers in a research report on Friday, October 25th. They set an “overweight” rating and a $80.00 price target for the company. Mizuho lifted their price objective on Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft cut Regency Centers from a “buy” rating to a “hold” rating and increased their target price for the company from $70.00 to $75.00 in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $76.92.

About Regency Centers

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.