Principal Financial Group Inc. Sells 347,045 Shares of Regency Centers Corporation $REG

Principal Financial Group Inc. trimmed its holdings in shares of Regency Centers Corporation (NASDAQ:REG) by 3.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,071,300 shares of the company’s stock after selling 347,045 shares during the quarter. Principal Financial Group Inc. owned 5.00% of Regency Centers worth $661,299,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in REG. Norges Bank bought a new stake in Regency Centers during the 2nd quarter valued at about $1,219,335,000. State Street Corp increased its position in shares of Regency Centers by 2.2% during the second quarter. State Street Corp now owns 12,035,961 shares of the company’s stock worth $865,625,000 after acquiring an additional 262,551 shares during the period. Geode Capital Management LLC raised its stake in shares of Regency Centers by 1.4% during the second quarter. Geode Capital Management LLC now owns 4,786,646 shares of the company’s stock valued at $339,669,000 after acquiring an additional 65,719 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Regency Centers by 3.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,426,163 shares of the company’s stock valued at $172,816,000 after purchasing an additional 77,978 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Regency Centers by 1.6% in the second quarter. Legal & General Group Plc now owns 1,774,056 shares of the company’s stock valued at $126,366,000 after purchasing an additional 27,507 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 completion of the transaction, the chairman directly owned 272,958 shares of the company’s stock, valued at $19,112,519.16. This trade represents a 5.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Regency Centers Price Performance

Shares of REG opened at $72.87 on Friday. The company has a 50 day moving average of $69.77 and a two-hundred day moving average of $70.75. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.72. Regency Centers Corporation has a twelve month low of $63.44 and a twelve month high of $78.18. The company has a market cap of $13.33 billion, a price-to-earnings ratio of 33.58, a price-to-earnings-growth ratio of 2.69 and a beta of 0.93.

Analyst Upgrades and Downgrades

REG has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Regency Centers in a research report on Monday, December 29th. Barclays upgraded Regency Centers from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $83.00 to $82.00 in a research note on Tuesday, November 18th. Truist Financial lowered their price objective on shares of Regency Centers from $81.00 to $77.00 and set a “buy” rating for the company in a research note on Tuesday, November 18th. Morgan Stanley reiterated an “overweight” rating and set a $85.00 target price on shares of Regency Centers in a report on Monday, January 5th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $76.00 price target (down previously from $81.00) on shares of Regency Centers in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.69.

Regency Centers Company Profile

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company’s portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.