SCS Capital Management LLC Purchases New Stake in Regency Centers Corporation $REG

SCS Capital Management LLC purchased a new stake in shares of Regency Centers Corporation (NASDAQ:REG) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 33,007 shares of the company’s stock, valued at approximately $2,632,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in REG. Norges Bank acquired a new stake in shares of Regency Centers during the 4th quarter worth about $1,183,667,000. State Street Corp grew its stake in Regency Centers by 1.4% in the 4th quarter. State Street Corp now owns 12,572,876 shares of the company’s stock valued at $877,261,000 after buying an additional 168,884 shares during the last quarter. Principal Financial Group Inc. grew its stake in Regency Centers by 10.3% in the 1st quarter. Principal Financial Group Inc. now owns 10,004,796 shares of the company’s stock valued at $756,967,000 after buying an additional 931,272 shares during the last quarter. Geode Capital Management LLC raised its holdings in Regency Centers by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 4,915,089 shares of the company’s stock valued at $338,110,000 after acquiring an additional 67,739 shares during the period. Finally, Invesco Ltd. raised its holdings in Regency Centers by 7.2% in the 4th quarter. Invesco Ltd. now owns 4,261,437 shares of the company’s stock valued at $294,167,000 after acquiring an additional 287,397 shares during the period. 96.07% of the stock is owned by institutional investors.

Insider Transactions at Regency Centers

In other Regency Centers news, insider Terah L. Devereaux sold 1,240 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $80.14, for a total value of $99,373.60. Following the transaction, the insider directly owned 17,990 shares of the company’s stock, valued at $1,441,718.60. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is owned by insiders.

Regency Centers Stock Performance

NASDAQ:REG opened at $76.71 on Monday. The company has a market cap of $14.05 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 3.20 and a beta of 0.80. Regency Centers Corporation has a fifty-two week low of $66.86 and a fifty-two week high of $83.66. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a fifty day moving average price of $79.63 and a 200-day moving average price of $78.02.

Regency Centers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Friday, September 11th will be paid a dividend of $0.755 per share. This represents a $3.02 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, September 11th. Regency Centers’s dividend payout ratio is presently 102.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on REG. BTIG Research restated a “buy” rating and set a $85.00 price objective on shares of Regency Centers in a report on Friday, June 12th. Barclays upped their target price on Regency Centers from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Citigroup lifted their price target on Regency Centers from $76.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. Evercore set a $83.00 price target on Regency Centers in a research note on Thursday, July 30th. Finally, Argus set a $85.00 price target on Regency Centers in a research note on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.82.

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.