Davis Selected Advisers Boosts Stock Position in Regency Centers Corporation $REG

Davis Selected Advisers lifted its stake in shares of Regency Centers Corporation (NASDAQ:REG) by 15.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 140,110 shares of the company’s stock after acquiring an additional 18,280 shares during the quarter. Davis Selected Advisers’ holdings in Regency Centers were worth $10,214,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in REG. Norges Bank bought a new stake in Regency Centers during the 2nd quarter worth approximately $1,219,335,000. Massachusetts Financial Services Co. MA purchased a new position in Regency Centers during the third quarter valued at approximately $107,144,000. Amundi boosted its position in shares of Regency Centers by 91.4% in the second quarter. Amundi now owns 1,530,276 shares of the company’s stock worth $108,344,000 after purchasing an additional 730,730 shares during the period. Alyeska Investment Group L.P. bought a new position in shares of Regency Centers in the third quarter worth approximately $47,563,000. Finally, UBS Group AG increased its stake in shares of Regency Centers by 78.8% in the third quarter. UBS Group AG now owns 1,337,215 shares of the company’s stock worth $97,483,000 after purchasing an additional 589,327 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Regency Centers Stock Performance

REG opened at $76.40 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $13.97 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 3.33 and a beta of 0.91. The company has a fifty day moving average of $74.86 and a 200 day moving average of $71.99. Regency Centers Corporation has a fifty-two week low of $63.44 and a fifty-two week high of $79.89.

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be given a $0.755 dividend. This represents a $3.02 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Wednesday, March 11th. Regency Centers’s payout ratio is currently 107.86%.

Analysts Set New Price Targets

Several brokerages have recently commented on REG. Weiss Ratings upgraded shares of Regency Centers from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. UBS Group set a $76.00 price target on Regency Centers in a research note on Wednesday, January 14th. Truist Financial raised their price target on Regency Centers from $77.00 to $84.00 and gave the company a “buy” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $76.00 price objective (down from $81.00) on shares of Regency Centers in a research report on Thursday, December 18th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $74.00 price objective (down from $77.00) on shares of Regency Centers in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Regency Centers currently has a consensus rating of “Moderate Buy” and an average target price of $79.50.

Insider Buying and Selling

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 129,490 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $78.33, for a total transaction of $10,142,951.70. Following the completion of the transaction, the chairman owned 195,892 shares in the company, valued at $15,344,220.36. This trade represents a 39.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 177,490 shares of company stock worth $13,839,932 over the last three months. 1.00% of the stock is currently owned by corporate insiders.

About Regency Centers

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.