Pacer Advisors Inc. Boosts Stake in Regency Centers Co. (NASDAQ:REG)

Pacer Advisors Inc. increased its position in shares of Regency Centers Co. (NASDAQ:REG) by 196.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 36,245 shares of the company’s stock after buying an additional 24,003 shares during the quarter. Pacer Advisors Inc.’s holdings in Regency Centers were worth $2,680,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in Regency Centers during the 2nd quarter valued at approximately $2,687,000. AQR Capital Management LLC increased its holdings in shares of Regency Centers by 6.0% in the second quarter. AQR Capital Management LLC now owns 23,631 shares of the company’s stock valued at $1,462,000 after purchasing an additional 1,331 shares during the period. Millennium Management LLC raised its stake in shares of Regency Centers by 43.8% during the second quarter. Millennium Management LLC now owns 83,387 shares of the company’s stock worth $5,187,000 after purchasing an additional 25,379 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Regency Centers by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 164,792 shares of the company’s stock worth $10,250,000 after purchasing an additional 1,404 shares during the period. Finally, Creative Planning lifted its holdings in shares of Regency Centers by 5.0% during the second quarter. Creative Planning now owns 12,460 shares of the company’s stock worth $775,000 after purchasing an additional 597 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on REG. Wells Fargo & Company cut their price objective on shares of Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday. KeyCorp started coverage on shares of Regency Centers in a report on Friday, October 25th. They set an “overweight” rating and a $80.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Regency Centers from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Evercore ISI dropped their target price on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th. Finally, BTIG Research raised their price target on Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.08.

Regency Centers Stock Performance

NASDAQ REG opened at $71.84 on Friday. The business has a 50 day moving average price of $73.09 and a 200 day moving average price of $71.89. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $13.04 billion, a P/E ratio of 33.73, a PEG ratio of 3.69 and a beta of 1.22. Regency Centers Co. has a 1-year low of $56.51 and a 1-year high of $76.53.

Regency Centers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 16th were paid a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Monday, December 16th. This is an increase from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s payout ratio is 132.39%.

Regency Centers Company Profile

Regency Centers is a preeminent national owner, operator, and developer of shopping centers located in suburban trade areas with compelling demographics. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers.