Wells Fargo & Company MN grew its stake in shares of Regency Centers Corp (NYSE:REG) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,748,229 shares of the real estate investment trust’s stock after buying an additional 95,645 shares during the quarter. Wells Fargo & Company MN’s holdings in Regency Centers were worth $120,942,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. ZWJ Investment Counsel Inc. bought a new stake in shares of Regency Centers in the fourth quarter worth about $201,000. WINTON GROUP Ltd bought a new stake in shares of Regency Centers in the third quarter worth about $219,000. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Regency Centers in the fourth quarter worth about $227,000. Parametrica Management Ltd bought a new stake in shares of Regency Centers in the fourth quarter worth about $229,000. Finally, Conning Inc. bought a new stake in shares of Regency Centers in the fourth quarter worth about $259,000. 91.74% of the stock is currently owned by institutional investors.
Several research firms have weighed in on REG. Zacks Investment Research cut Regency Centers from a “hold” rating to a “sell” rating in a research report on Friday. Boenning Scattergood reaffirmed a “hold” rating on shares of Regency Centers in a research report on Monday, February 12th. TheStreet cut Regency Centers from a “b-” rating to a “c” rating in a research report on Thursday, February 8th. BTIG Research upgraded shares of Regency Centers from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a report on Monday, January 29th. Finally, Jefferies Group set a $71.00 target price on shares of Regency Centers and gave the company a “hold” rating in a report on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $71.29.
Regency Centers (NYSE:REG) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.42). Regency Centers had a return on equity of 2.71% and a net margin of 18.16%. The company had revenue of $257.95 million during the quarter, compared to the consensus estimate of $257.60 million. During the same period last year, the firm posted $0.86 EPS. analysts anticipate that Regency Centers Corp will post 3.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th will be given a dividend of $0.555 per share. This is an increase from Regency Centers’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, February 16th. This represents a $2.22 dividend on an annualized basis and a dividend yield of 3.82%. Regency Centers’s payout ratio is presently 243.68%.
Regency Centers declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 8th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.
In other news, VP James D. Thompson sold 14,983 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $68.45, for a total transaction of $1,025,586.35. Following the completion of the sale, the vice president now owns 48,976 shares of the company’s stock, valued at approximately $3,352,407.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO J Christian Leavitt sold 2,000 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $67.61, for a total transaction of $135,220.00. Following the completion of the transaction, the chief accounting officer now directly owns 14,314 shares of the company’s stock, valued at approximately $967,769.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 598,762 shares of company stock valued at $38,701,922. Insiders own 12.66% of the company’s stock.
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About Regency Centers
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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