Metropolitan Life Insurance Co. NY cut its stake in shares of Regency Centers Corp (NYSE:REG) by 60.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,937 shares of the real estate investment trust’s stock after selling 47,068 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Regency Centers were worth $2,140,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. UBS Asset Management Americas Inc. grew its stake in shares of Regency Centers by 11.7% during the fourth quarter. UBS Asset Management Americas Inc. now owns 777,315 shares of the real estate investment trust’s stock worth $53,775,000 after purchasing an additional 81,260 shares during the period. Deutsche Bank AG grew its stake in shares of Regency Centers by 41.1% during the fourth quarter. Deutsche Bank AG now owns 1,924,306 shares of the real estate investment trust’s stock worth $133,118,000 after purchasing an additional 560,348 shares during the period. Ontario Teachers Pension Plan Board grew its stake in shares of Regency Centers by 71.3% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 59,212 shares of the real estate investment trust’s stock worth $4,096,000 after purchasing an additional 24,648 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Regency Centers by 3,080.1% during the third quarter. Advisors Asset Management Inc. now owns 7,505 shares of the real estate investment trust’s stock worth $466,000 after purchasing an additional 7,269 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Regency Centers by 7.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 1,586,197 shares of the real estate investment trust’s stock worth $98,408,000 after purchasing an additional 107,561 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on REG shares. SunTrust Banks set a $67.00 price objective on Regency Centers and gave the stock a “buy” rating in a research note on Friday, March 2nd. BTIG Research raised Regency Centers from a “neutral” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Monday, January 29th. Robert W. Baird reiterated a “buy” rating and set a $68.00 target price on shares of Regency Centers in a report on Wednesday, March 21st. TheStreet lowered Regency Centers from a “b-” rating to a “c” rating in a report on Thursday, February 8th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Regency Centers in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $69.35.
Regency Centers Corp (REG) opened at $55.85 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $9,538.84, a PE ratio of 64.20, a price-to-earnings-growth ratio of 2.10 and a beta of 0.49. Regency Centers Corp has a twelve month low of $54.87 and a twelve month high of $70.64.
Regency Centers (NYSE:REG) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.42). The business had revenue of $257.95 million for the quarter, compared to the consensus estimate of $257.60 million. Regency Centers had a return on equity of 2.71% and a net margin of 18.16%. During the same quarter in the prior year, the firm posted $0.86 earnings per share. equities analysts predict that Regency Centers Corp will post 3.8 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th were issued a $0.555 dividend. This represents a $2.22 dividend on an annualized basis and a dividend yield of 3.97%. This is a positive change from Regency Centers’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, February 16th. Regency Centers’s payout ratio is 255.17%.
Regency Centers announced that its Board of Directors has approved a share repurchase plan on Thursday, February 8th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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Regency Centers Profile
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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