Cypress Capital Group Reduces Stock Position in Regency Centers Co. (NASDAQ:REG)

Cypress Capital Group reduced its holdings in shares of Regency Centers Co. (NASDAQ:REG) by 14.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,449 shares of the company’s stock after selling 1,713 shares during the quarter. Cypress Capital Group’s holdings in Regency Centers were worth $650,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fidelis Capital Partners LLC bought a new position in shares of Regency Centers in the 1st quarter worth $27,000. Family Firm Inc. bought a new position in shares of Regency Centers during the 2nd quarter valued at $44,000. Blue Trust Inc. boosted its position in Regency Centers by 582.1% during the 2nd quarter. Blue Trust Inc. now owns 839 shares of the company’s stock valued at $51,000 after buying an additional 716 shares during the period. EntryPoint Capital LLC purchased a new stake in Regency Centers during the 1st quarter valued at $52,000. Finally, Covestor Ltd lifted its position in shares of Regency Centers by 29.4% in the 1st quarter. Covestor Ltd now owns 1,575 shares of the company’s stock worth $95,000 after purchasing an additional 358 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Regency Centers Stock Performance

NASDAQ REG traded up $0.11 during trading hours on Monday, hitting $71.53. 40,883 shares of the company’s stock traded hands, compared to its average volume of 1,128,509. The business’s fifty day moving average price is $65.75 and its two-hundred day moving average price is $62.06. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $13.22 billion, a P/E ratio of 34.79, a P/E/G ratio of 4.35 and a beta of 1.21. Regency Centers Co. has a 52 week low of $56.29 and a 52 week high of $71.97.

Regency Centers (NASDAQ:REG) last announced its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.48). Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. The business had revenue of $357.25 million for the quarter, compared to the consensus estimate of $361.56 million. During the same quarter last year, the firm posted $1.03 earnings per share. Equities research analysts predict that Regency Centers Co. will post 4.23 EPS for the current year.

Regency Centers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.75%. The ex-dividend date is Thursday, September 12th. Regency Centers’s dividend payout ratio is currently 130.73%.

Analyst Ratings Changes

Several research firms have recently commented on REG. Mizuho raised their target price on shares of Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Scotiabank lifted their price target on shares of Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a research report on Monday. Truist Financial raised their price objective on shares of Regency Centers from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on shares of Regency Centers from $71.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Finally, Raymond James raised their price objective on shares of Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.64.

Insider Buying and Selling at Regency Centers

In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the transaction, the chairman now owns 307,199 shares of the company’s stock, valued at $21,503,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the sale, the chairman now owns 307,199 shares in the company, valued at $21,503,930. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael R. Herman sold 1,000 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $69.57, for a total transaction of $69,570.00. Following the completion of the sale, the vice president now owns 13,010 shares in the company, valued at approximately $905,105.70. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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.