Regency Centers Corp. (REG) Position Boosted by Bank of New York Mellon Corp
Bank of New York Mellon Corp raised its stake in shares of Regency Centers Corp. (NYSE:REG) by 31.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,073,893 shares of the real estate investment trust’s stock after buying an additional 737,772 shares during the period. Bank of New York Mellon Corp owned about 3.10% of Regency Centers Corp. worth $238,196,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the stock. Standard Life Investments LTD raised its position in shares of Regency Centers Corp. by 1,173.7% in the third quarter. Standard Life Investments LTD now owns 843,566 shares of the real estate investment trust’s stock valued at $65,355,000 after buying an additional 777,336 shares in the last quarter. BlackRock Fund Advisors raised its stake in Regency Centers Corp. by 16.1% in the second quarter. BlackRock Fund Advisors now owns 5,359,133 shares of the real estate investment trust’s stock valued at $448,720,000 after buying an additional 742,846 shares during the period. Vanguard Group Inc. raised its stake in Regency Centers Corp. by 4.0% in the second quarter. Vanguard Group Inc. now owns 15,057,339 shares of the real estate investment trust’s stock valued at $1,260,751,000 after buying an additional 581,598 shares during the period. Prudential Financial Inc. raised its stake in Regency Centers Corp. by 832.4% in the second quarter. Prudential Financial Inc. now owns 547,730 shares of the real estate investment trust’s stock valued at $45,861,000 after buying an additional 488,986 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new stake in Regency Centers Corp. during the second quarter valued at approximately $39,687,000. Hedge funds and other institutional investors own 98.83% of the company’s stock.
Regency Centers Corp. (NYSE:REG) opened at 66.84 on Thursday. The company has a 50-day moving average price of $70.51 and a 200-day moving average price of $77.37. The firm has a market capitalization of $6.96 billion, a PE ratio of 62.70 and a beta of 0.69. Regency Centers Corp. has a 12-month low of $64.33 and a 12-month high of $85.35.
Regency Centers Corp. (NYSE:REG) last posted its quarterly earnings results on Tuesday, November 1st. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.01. Regency Centers Corp. had a net margin of 20.55% and a return on equity of 6.61%. During the same quarter in the prior year, the business posted $0.76 earnings per share. On average, analysts predict that Regency Centers Corp. will post $3.26 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, November 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.99%. Regency Centers Corp.’s payout ratio is 186.92%.
REG has been the subject of several research reports. BTIG Research initiated coverage on Regency Centers Corp. in a research note on Thursday, August 25th. They set a “neutral” rating for the company. Jefferies Group boosted their price objective on Regency Centers Corp. from $83.00 to $84.00 and gave the stock a “hold” rating in a research note on Tuesday, August 23rd. Zacks Investment Research lowered Regency Centers Corp. from a “hold” rating to a “sell” rating in a research note on Monday, October 24th. Evercore ISI upgraded Regency Centers Corp. from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research note on Thursday, November 3rd. Finally, TheStreet lowered Regency Centers Corp. from a “buy” rating to a “hold” rating in a research note on Wednesday, November 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, one has assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $80.50.
About Regency Centers Corp.
Regency Centers Corporation is a real estate investment trust (REIT) and the general partner of the Regency Centers, L.P. (Operating Partnership). The Company’s operating, investing and financing activities are performed through the Operating Partnership, its subsidiaries and through its co-investment partnerships.
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