Allstate Corp Makes New Investment in Regency Centers Co. (NASDAQ:REG)

Allstate Corp purchased a new stake in shares of Regency Centers Co. (NASDAQ:REG) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 5,246 shares of the company’s stock, valued at approximately $388,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heck Capital Advisors LLC acquired a new position in shares of Regency Centers in the 4th quarter valued at $26,000. National Pension Service purchased a new stake in Regency Centers during the 4th quarter valued at about $27,000. Catalyst Capital Advisors LLC acquired a new position in shares of Regency Centers in the fourth quarter valued at about $54,000. Venturi Wealth Management LLC raised its stake in shares of Regency Centers by 4,400.0% in the fourth quarter. Venturi Wealth Management LLC now owns 855 shares of the company’s stock worth $63,000 after purchasing an additional 836 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Regency Centers by 27.9% during the 4th quarter. Farther Finance Advisors LLC now owns 1,003 shares of the company’s stock valued at $74,000 after acquiring an additional 219 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Insider Activity at Regency Centers

In related news, CEO Lisa Palmer sold 25,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the completion of the sale, the chief executive officer now owns 139,923 shares of the company’s stock, valued at approximately $10,250,758.98. This represents a 15.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the completion of the transaction, the chairman now directly owns 110,263 shares in the company, valued at $8,102,125.24. This trade represents a 31.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,000 shares of company stock valued at $6,977,500. 1.00% of the stock is owned by insiders.

Regency Centers Price Performance

Shares of NASDAQ REG opened at $74.74 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 0.85. The firm has a fifty day moving average of $73.27 and a 200 day moving average of $72.95. The firm has a market cap of $13.57 billion, a PE ratio of 35.25, a PEG ratio of 3.75 and a beta of 1.23. Regency Centers Co. has a one year low of $56.51 and a one year high of $78.18.

Regency Centers (NASDAQ:REG) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. As a group, research analysts predict that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Wednesday, March 12th. Regency Centers’s payout ratio is 133.02%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on REG shares. Wells Fargo & Company lowered their target price on Regency Centers from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Evercore ISI decreased their price target on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Finally, Mizuho raised their price objective on shares of Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.00.

Regency Centers 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.