Assetmark Inc. Sells 288 Shares of Regency Centers Co. (NASDAQ:REG)

Assetmark Inc. trimmed its holdings in Regency Centers Co. (NASDAQ:REG) by 1.5% during the third quarter, Holdings Channel reports. The institutional investor owned 18,328 shares of the company’s stock after selling 288 shares during the quarter. Assetmark Inc.’s holdings in Regency Centers were worth $1,324,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Assenagon Asset Management S.A. boosted its stake in Regency Centers by 3.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,744 shares of the company’s stock valued at $295,000 after purchasing an additional 152 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its position in shares of Regency Centers by 4.3% during the third quarter. Azzad Asset Management Inc. ADV now owns 4,543 shares of the company’s stock valued at $328,000 after buying an additional 189 shares during the last quarter. Tectonic Advisors LLC grew its holdings in Regency Centers by 3.0% during the third quarter. Tectonic Advisors LLC now owns 6,941 shares of the company’s stock worth $501,000 after buying an additional 203 shares in the last quarter. Greenleaf Trust grew its holdings in Regency Centers by 5.5% during the third quarter. Greenleaf Trust now owns 4,563 shares of the company’s stock worth $330,000 after buying an additional 238 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its position in Regency Centers by 7.6% in the 2nd quarter. V Square Quantitative Management LLC now owns 3,829 shares of the company’s stock valued at $238,000 after buying an additional 269 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Regency Centers Stock Down 0.3 %

Shares of NASDAQ REG opened at $73.66 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $13.37 billion, a PE ratio of 34.68, a P/E/G ratio of 4.53 and a beta of 1.21. Regency Centers Co. has a one year low of $56.51 and a one year high of $75.26. The business’s fifty day moving average price is $72.37 and its 200-day moving average price is $67.03.

Regency Centers (NASDAQ:REG) last released its quarterly earnings data on Monday, October 28th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.50). The business had revenue of $360.27 million for the quarter, compared to analysts’ expectations of $355.17 million. Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. During the same period last year, the company earned $1.02 earnings per share. On average, equities research analysts anticipate 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 paid a $0.705 dividend. This represents a $2.82 dividend on an annualized basis 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 is Monday, December 16th. Regency Centers’s payout ratio is currently 125.82%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on REG shares. KeyCorp assumed coverage on shares of Regency Centers in a research note on Friday, October 25th. They issued an “overweight” rating and a $80.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered shares of Regency Centers from a “buy” rating to a “hold” rating and increased their price objective for the company from $70.00 to $75.00 in a research note on Thursday, September 26th. Wells Fargo & Company boosted their target price on Regency Centers from $69.00 to $79.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Raymond James increased their price target on Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Regency Centers from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Two 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 stock. According to MarketBeat, Regency Centers currently has an average rating of “Buy” and a consensus target price of $76.92.

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.