Westpac Banking Corp Cuts Stock Position in Regency Centers Corporation $REG

Westpac Banking Corp trimmed its stake in shares of Regency Centers Corporation (NASDAQ:REG) by 5.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,201 shares of the company’s stock after selling 3,010 shares during the period. Westpac Banking Corp’s holdings in Regency Centers were worth $3,718,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. raised its position in shares of Regency Centers by 3.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 120,960 shares of the company’s stock valued at $8,922,000 after buying an additional 3,773 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in Regency Centers by 14.8% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,589 shares of the company’s stock valued at $256,000 after purchasing an additional 463 shares during the period. Strs Ohio acquired a new position in shares of Regency Centers in the 1st quarter valued at $5,503,000. Generate Investment Management Ltd acquired a new position in shares of Regency Centers in the 2nd quarter valued at $4,748,000. Finally, Achmea Investment Management B.V. grew its holdings in shares of Regency Centers by 641.3% during the 2nd quarter. Achmea Investment Management B.V. now owns 116,046 shares of the company’s stock worth $8,266,000 after purchasing an additional 100,391 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Regency Centers Price Performance

Regency Centers stock opened at $69.59 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.20 and a debt-to-equity ratio of 0.72. Regency Centers Corporation has a 52-week low of $63.44 and a 52-week high of $78.18. The firm has a market cap of $12.63 billion, a PE ratio of 32.07, a price-to-earnings-growth ratio of 2.87 and a beta of 1.07. The company’s 50 day moving average is $71.13 and its two-hundred day moving average is $71.39.

Regency Centers (NASDAQ:REG) last released its earnings results on Tuesday, October 28th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.15. Regency Centers had a return on equity of 6.14% and a net margin of 27.04%.The firm had revenue of $387.57 million during the quarter, compared to analyst estimates of $374.83 million. During the same period last year, the business posted $1.07 earnings per share. Regency Centers has set its FY 2025 guidance at 4.620-4.640 EPS. On average, research analysts expect that Regency Centers Corporation will post 4.54 EPS for the current fiscal year.

Regency Centers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Monday, December 15th will be paid a $0.755 dividend. This is an increase from Regency Centers’s previous quarterly dividend of $0.71. This represents a $3.02 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Monday, December 15th. Regency Centers’s payout ratio is presently 139.17%.

Analyst Ratings Changes

REG has been the topic of a number of research analyst reports. Scotiabank boosted their price target on shares of Regency Centers from $76.00 to $78.00 and gave the company a “sector perform” rating in a research note on Thursday. Evercore ISI lifted their target price on shares of Regency Centers from $76.00 to $77.00 and gave the company an “in-line” rating in a report on Monday, September 15th. Mizuho upped their price target on Regency Centers from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 20th. Truist Financial raised their price target on Regency Centers from $79.00 to $81.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Finally, Robert W. Baird boosted their price objective on Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.22.

Insider Activity at Regency Centers

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 15,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $70.02, for a total value of $1,050,300.00. Following the sale, the chairman directly owned 272,958 shares of the company’s stock, valued at approximately $19,112,519.16. This represents a 5.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

About Regency Centers

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.