Victory Capital Management Inc. Sells 130,708 Shares of Regency Centers Co. (NASDAQ:REG)

Victory Capital Management Inc. cut its stake in shares of Regency Centers Co. (NASDAQ:REG) by 83.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,234 shares of the company’s stock after selling 130,708 shares during the period. Victory Capital Management Inc.’s holdings in Regency Centers were worth $1,895,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in REG. PGGM Investments grew its holdings in Regency Centers by 2,586.9% in the 2nd 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 in the last quarter. Principal Financial Group Inc. grew its position in Regency Centers by 4.2% during the second quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock worth $555,009,000 after buying an additional 357,091 shares in the last quarter. abrdn plc increased its stake in Regency Centers by 199.7% during the 3rd quarter. abrdn plc now owns 375,059 shares of the company’s stock worth $27,006,000 after acquiring an additional 249,929 shares during the period. Lasalle Investment Management Securities LLC raised its holdings in Regency Centers by 92.6% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 437,213 shares of the company’s stock valued at $26,478,000 after acquiring an additional 210,161 shares in the last quarter. Finally, Swedbank AB bought a new stake in shares of Regency Centers during the 1st quarter valued at $10,796,000. Institutional investors and hedge funds own 96.07% of the company’s stock.

Regency Centers Trading Down 0.3 %

NASDAQ REG opened at $74.24 on Monday. Regency Centers Co. has a one year low of $56.51 and a one year high of $75.26. 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 business has a 50 day simple moving average of $72.36 and a 200 day simple moving average of $67.82. The stock has a market capitalization of $13.47 billion, a P/E ratio of 34.85, a P/E/G ratio of 4.10 and a beta of 1.21.

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

Regency Centers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders 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 3.80%. The ex-dividend date is Monday, December 16th. This is a boost from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s dividend payout ratio (DPR) is 132.39%.

Wall Street Analysts Forecast Growth

REG has been the subject of several recent analyst reports. Scotiabank upped their price objective on shares of Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Compass Point raised their target price on Regency Centers from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Robert W. Baird raised their price objective on Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. KeyCorp initiated coverage on shares of Regency Centers in a report on Friday, October 25th. They set an “overweight” rating and a $80.00 price target on the stock. Finally, Mizuho upped their target price on Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $76.92.

Regency Centers Company 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.