Commerce Bank Reduces Stock Holdings in Regency Centers Co. (NASDAQ:REG)

Commerce Bank lessened its holdings in shares of Regency Centers Co. (NASDAQ:REG) by 8.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 8,631 shares of the company’s stock after selling 846 shares during the quarter. Commerce Bank’s holdings in Regency Centers were worth $623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. California State Teachers Retirement System raised its position in Regency Centers by 2.3% during the first quarter. California State Teachers Retirement System now owns 250,903 shares of the company’s stock valued at $15,195,000 after acquiring an additional 5,757 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Regency Centers by 280.8% during the 1st quarter. Tidal Investments LLC now owns 14,265 shares of the company’s stock valued at $864,000 after purchasing an additional 10,519 shares in the last quarter. LBP AM SA lifted its stake in shares of Regency Centers by 195.6% in the 1st quarter. LBP AM SA now owns 113,869 shares of the company’s stock valued at $6,896,000 after purchasing an additional 75,343 shares during the period. iA Global Asset Management Inc. boosted its holdings in Regency Centers by 22.0% during the first quarter. iA Global Asset Management Inc. now owns 6,467 shares of the company’s stock worth $392,000 after buying an additional 1,165 shares in the last quarter. Finally, Plato Investment Management Ltd acquired a new stake in Regency Centers during the first quarter valued at $524,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on REG shares. Evercore ISI upgraded shares of Regency Centers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Robert W. Baird upped their price target on Regency Centers from $71.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Scotiabank raised their price objective on Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft downgraded Regency Centers from a “buy” rating to a “hold” rating and upped their target price for the stock from $70.00 to $75.00 in a research note on Thursday, September 26th. Finally, Wells Fargo & Company lifted their price target on shares of Regency Centers from $69.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $76.92.

Regency Centers Price Performance

REG stock opened at $74.02 on Tuesday. Regency Centers Co. has a 1 year low of $56.51 and a 1 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 firm has a market capitalization of $13.43 billion, a PE ratio of 34.75, a price-to-earnings-growth ratio of 4.09 and a beta of 1.21. The business has a 50 day simple moving average of $72.34 and a 200-day simple moving average of $67.93.

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 net margin of 27.78% and a return on equity of 5.85%. The company had revenue of $360.27 million during the quarter, compared to analysts’ expectations of $355.17 million. During the same quarter in the previous year, the company earned $1.02 earnings per share. Equities research analysts anticipate that Regency Centers Co. will post 4.28 earnings per share for the current fiscal year.

Regency Centers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 16th will be paid a dividend of $0.705 per share. The ex-dividend date is Monday, December 16th. This is an increase from Regency Centers’s previous quarterly dividend of $0.67. This represents a $2.82 dividend on an annualized basis and a yield of 3.81%. Regency Centers’s payout ratio is 125.82%.

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.