PNC Financial Services Group Inc. Boosts Position in Regency Centers Co. (NASDAQ:REG)

PNC Financial Services Group Inc. lifted its position in Regency Centers Co. (NASDAQ:REG) by 21.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,121 shares of the company’s stock after acquiring an additional 3,188 shares during the period. PNC Financial Services Group Inc.’s holdings in Regency Centers were worth $1,309,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in REG. Quest Partners LLC boosted its position in shares of Regency Centers by 25,250.0% in the 2nd quarter. Quest Partners LLC now owns 507 shares of the company’s stock worth $32,000 after purchasing an additional 505 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Regency Centers during the 2nd quarter valued at about $44,000. Blue Trust Inc. raised its position in Regency Centers by 582.1% in the second quarter. Blue Trust Inc. now owns 839 shares of the company’s stock worth $51,000 after acquiring an additional 716 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Regency Centers by 300.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the company’s stock valued at $58,000 after purchasing an additional 600 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Regency Centers during the 2nd quarter worth approximately $60,000. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on REG shares. JPMorgan Chase & Co. lifted their target price on Regency Centers from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Compass Point increased their target price on shares of Regency Centers from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. KeyCorp assumed coverage on Regency Centers in a research note on Friday, October 25th. They issued an “overweight” rating and a $80.00 target price on the stock. Truist Financial increased their price objective on Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Mizuho upped their price target on shares of Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Two analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $77.08.

Regency Centers Stock Performance

Shares of REG stock opened at $75.91 on Thursday. The business has a fifty day moving average of $72.42 and a 200 day moving average of $68.09. 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 $13.78 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of 4.08 and a beta of 1.21. Regency Centers Co. has a 1 year low of $56.51 and a 1 year high of $76.14.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.54 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 business had revenue of $360.27 million during the quarter, compared to analysts’ expectations of $355.17 million. During the same period in the previous year, the company posted $1.02 earnings per share. As a group, research analysts expect that Regency Centers Co. will post 4.28 earnings per share for the current year.

Regency Centers Increases Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Monday, December 16th. This is a positive change from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s payout ratio is currently 125.82%.

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.