Regency Centers Corporation (REG) Shares Sold by Prudential Financial Inc.
Prudential Financial Inc. lowered its position in Regency Centers Corporation (NYSE:REG) by 58.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 201,378 shares of the real estate investment trust’s stock after selling 282,925 shares during the period. Prudential Financial Inc. owned approximately 0.19% of Regency Centers Corporation worth $13,369,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of REG. Teachers Retirement System of The State of Kentucky increased its stake in shares of Regency Centers Corporation by 1.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 24,200 shares of the real estate investment trust’s stock valued at $1,669,000 after buying an additional 300 shares during the period. GLG LLC boosted its position in Regency Centers Corporation by 6.8% in the fourth quarter. GLG LLC now owns 5,142 shares of the real estate investment trust’s stock valued at $355,000 after buying an additional 327 shares during the period. Oakbrook Investments LLC boosted its position in Regency Centers Corporation by 11.3% in the first quarter. Oakbrook Investments LLC now owns 6,081 shares of the real estate investment trust’s stock valued at $404,000 after buying an additional 619 shares during the period. Phocas Financial Corp. boosted its position in shares of Regency Centers Corporation by 16.7% in the third quarter. Phocas Financial Corp. now owns 7,854 shares of the real estate investment trust’s stock valued at $609,000 after buying an additional 1,124 shares during the period. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of Regency Centers Corporation by 51.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 4,085 shares of the real estate investment trust’s stock valued at $254,000 after buying an additional 1,380 shares during the period. 86.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Regency Centers Corporation (NYSE REG) traded down 3.57% during mid-day trading on Friday, reaching $61.77. The company had a trading volume of 1,370,505 shares. The stock has a market capitalization of $10.48 billion, a P/E ratio of 106.50 and a beta of 0.59. The firm’s 50 day moving average is $61.93 and its 200-day moving average is $66.42. Regency Centers Corporation has a 12-month low of $58.63 and a 12-month high of $85.35.
Regency Centers Corporation (NYSE:REG) last posted its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. Regency Centers Corporation had a return on equity of 2.75% and a net margin of 13.68%. The business had revenue of $189.43 million for the quarter, compared to the consensus estimate of $185.43 million. During the same quarter in the prior year, the business earned $0.86 earnings per share. On average, analysts expect that Regency Centers Corporation will post $1.22 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Monday, May 22nd were issued a dividend of $0.53 per share. This is a boost from Regency Centers Corporation’s previous quarterly dividend of $0.51. The ex-dividend date was Thursday, May 18th. This represents a $2.12 dividend on an annualized basis and a yield of 3.31%. Regency Centers Corporation’s payout ratio is presently 316.42%.
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A number of equities research analysts have issued reports on REG shares. Jefferies Group LLC upgraded Regency Centers Corporation from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research lowered Regency Centers Corporation from a “buy” rating to a “hold” rating in a report on Monday, March 27th. Barclays PLC started coverage on Regency Centers Corporation in a research report on Monday, March 6th. They issued an “equal weight” rating and a $72.00 price target for the company. Citigroup Inc. reiterated a “neutral” rating and issued a $72.00 price target on shares of Regency Centers Corporation in a research report on Thursday, March 2nd. Finally, BidaskClub upgraded Regency Centers Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $75.50.
In other news, insider H Craig Ramey sold 750 shares of the company’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $66.44, for a total value of $49,830.00. Following the transaction, the insider now owns 16,817 shares of the company’s stock, valued at $1,117,321.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John C. Schweitzer sold 4,000 shares of the company’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $61.13, for a total transaction of $244,520.00. Following the completion of the transaction, the director now directly owns 46,694 shares in the company, valued at approximately $2,854,404.22. The disclosure for this sale can be found here. Insiders have sold a total of 5,798 shares of company stock worth $359,504 in the last three months. Insiders own 12.66% of the company’s stock.
About Regency Centers Corporation
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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