Legacy Capital Group California Inc. Acquires New Position in Regency Centers Co. (NASDAQ:REG)

Legacy Capital Group California Inc. bought a new position in shares of Regency Centers Co. (NASDAQ:REG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,879 shares of the company’s stock, valued at approximately $287,000.

Other large investors have also recently modified their holdings of the company. State Street Corp lifted its stake in shares of Regency Centers by 1.1% during the 3rd quarter. State Street Corp now owns 11,768,052 shares of the company’s stock valued at $857,892,000 after buying an additional 131,300 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Regency Centers by 4.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,090,347 shares of the company’s stock valued at $801,056,000 after acquiring an additional 435,932 shares during the period. Principal Financial Group Inc. lifted its position in shares of Regency Centers by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company’s stock worth $678,873,000 after acquiring an additional 366,427 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Regency Centers by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,312,535 shares of the company’s stock worth $167,034,000 after acquiring an additional 71,278 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Regency Centers by 1,138.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,075,753 shares of the company’s stock worth $149,932,000 after acquiring an additional 1,908,153 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Regency Centers Price Performance

Shares of NASDAQ:REG opened at $73.33 on Friday. The company’s fifty day moving average price is $72.61 and its 200-day moving average price is $72.57. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95. The firm has a market capitalization of $13.30 billion, a price-to-earnings ratio of 34.59, a PEG ratio of 3.75 and a beta of 1.21. Regency Centers Co. has a one year low of $56.51 and a one year high of $76.53.

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

Regency Centers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.705 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $2.82 dividend on an annualized basis and a yield of 3.85%. Regency Centers’s payout ratio is 133.02%.

Insiders Place Their Bets

In other news, CFO Michael J. Mas sold 20,000 shares of Regency Centers stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total value of $1,472,000.00. Following the transaction, the chief financial officer now owns 54,020 shares in the company, valued at approximately $3,975,872. The trade was a 27.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lisa Palmer sold 25,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total value of $1,831,500.00. Following the completion of the sale, the chief executive officer now directly owns 139,923 shares of the company’s stock, valued at approximately $10,250,758.98. This trade represents a 15.16 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho increased their price objective on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Evercore ISI lowered their price target on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. BTIG Research raised their price objective on shares of Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. KeyCorp initiated coverage on shares of Regency Centers in a report on Friday, October 25th. They set an “overweight” rating and a $80.00 target price on the stock. Finally, Robert W. Baird raised their price target on shares of Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Regency Centers currently has an average rating of “Moderate Buy” and a consensus price target of $78.08.

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.