Pacer Advisors Inc. Raises Stock Position in Regency Centers Corporation $REG

Pacer Advisors Inc. boosted its holdings in Regency Centers Corporation (NASDAQ:REG) by 112.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 27,697 shares of the company’s stock after purchasing an additional 14,665 shares during the quarter. Pacer Advisors Inc.’s holdings in Regency Centers were worth $1,912,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. State Street Corp increased its stake in Regency Centers by 3.1% in the 3rd quarter. State Street Corp now owns 12,403,992 shares of the company’s stock worth $912,739,000 after buying an additional 368,031 shares in the last quarter. Boston Partners grew its position in shares of Regency Centers by 2.1% during the third quarter. Boston Partners now owns 3,540,137 shares of the company’s stock valued at $258,062,000 after purchasing an additional 72,584 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Regency Centers during the third quarter valued at about $107,144,000. UBS Group AG grew its position in shares of Regency Centers by 78.8% during the third quarter. UBS Group AG now owns 1,337,215 shares of the company’s stock valued at $97,483,000 after purchasing an additional 589,327 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Regency Centers by 10.8% during the third quarter. American Century Companies Inc. now owns 957,588 shares of the company’s stock valued at $69,808,000 after purchasing an additional 93,268 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Regency Centers Stock Up 0.3%

Shares of NASDAQ:REG opened at $76.92 on Friday. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. Regency Centers Corporation has a 12 month low of $66.86 and a 12 month high of $81.66. The company has a 50-day moving average price of $77.76 and a 200 day moving average price of $73.63. The company has a market cap of $14.08 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 3.25 and a beta of 0.82.

Regency Centers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Friday, June 12th will be paid a $0.755 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $3.02 annualized dividend and a yield of 3.9%. Regency Centers’s dividend payout ratio (DPR) is presently 104.14%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on REG. Barclays raised their price objective on Regency Centers from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday. Robert W. Baird set a $84.00 price objective on Regency Centers in a research report on Tuesday, February 10th. Morgan Stanley raised their price objective on Regency Centers from $85.00 to $88.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft upgraded Regency Centers from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company raised their price objective on Regency Centers from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $81.36.

Insider Activity

In other Regency Centers news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $79.06, for a total value of $626,708.62. Following the completion of the sale, the insider owned 33,069 shares of the company’s stock, valued at $2,614,435.14. This trade represents a 19.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 274,615 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $78.40, for a total transaction of $21,529,816.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 460,032 shares of company stock valued at $35,996,456. 1.00% of the stock is owned by insiders.

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.