BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 88,493 Shares of Regency Centers Corporation (REG)
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Regency Centers Corporation (NYSE:REG) by 250.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 123,802 shares of the real estate investment trust’s stock after acquiring an additional 88,493 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.07% of Regency Centers worth $7,681,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. State of Tennessee Treasury Department grew its position in shares of Regency Centers by 0.3% during the 2nd quarter. State of Tennessee Treasury Department now owns 40,005 shares of the real estate investment trust’s stock valued at $2,506,000 after acquiring an additional 110 shares during the period. IHT Wealth Management LLC acquired a new stake in Regency Centers in the 2nd quarter worth about $124,000. Phocas Financial Corp. boosted its holdings in Regency Centers by 3.5% in the 2nd quarter. Phocas Financial Corp. now owns 7,558 shares of the real estate investment trust’s stock worth $473,000 after buying an additional 254 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in Regency Centers by 1.5% in the 2nd quarter. Westwood Holdings Group Inc. now owns 19,115 shares of the real estate investment trust’s stock worth $1,197,000 after buying an additional 284 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Regency Centers by 8.5% in the 2nd quarter. Pacer Advisors Inc. now owns 3,682 shares of the real estate investment trust’s stock worth $231,000 after buying an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 92.49% of the company’s stock.
Several equities research analysts recently issued reports on REG shares. Citigroup set a $70.00 price objective on Regency Centers and gave the stock a “hold” rating in a report on Monday, August 14th. Zacks Investment Research cut Regency Centers from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Royal Bank of Canada upgraded Regency Centers from an “outperform” rating to a “top pick” rating and lifted their price objective for the stock from $72.00 to $75.00 in a report on Thursday, August 17th. Robert W. Baird reiterated a “buy” rating and issued a $72.00 price objective on shares of Regency Centers in a report on Thursday, August 24th. Finally, Argus lowered their price objective on Regency Centers from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, August 31st. Eight investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $70.59.
Regency Centers (NYSE:REG) last announced its earnings results on Wednesday, November 1st. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The company had revenue of $262.14 million for the quarter, compared to analyst estimates of $254.04 million. Regency Centers had a return on equity of 2.82% and a net margin of 17.59%. During the same quarter in the previous year, the company earned $0.81 earnings per share. sell-side analysts forecast that Regency Centers Corporation will post 3.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 29th. Shareholders of record on Wednesday, November 15th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Tuesday, November 14th. Regency Centers’s payout ratio is 235.56%.
In other Regency Centers news, CAO J Christian Leavitt sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $67.61, for a total value of $135,220.00. Following the sale, the chief accounting officer now owns 14,314 shares of the company’s stock, valued at $967,769.54. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.66% of the stock is owned by insiders.
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About Regency Centers
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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