Trustmark National Bank Trust Department Buys New Stake in Regency Centers Co. (NASDAQ:REG)

Trustmark National Bank Trust Department acquired a new position in shares of Regency Centers Co. (NASDAQ:REG) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 9,956 shares of the company’s stock, valued at approximately $719,000.

Several other large investors have also recently added to or reduced their stakes in REG. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Regency Centers by 405.6% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 77,952 shares of the company’s stock worth $5,630,000 after purchasing an additional 62,534 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Regency Centers by 21.3% during the third quarter. PNC Financial Services Group Inc. now owns 18,121 shares of the company’s stock valued at $1,309,000 after purchasing an additional 3,188 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Regency Centers in the third quarter valued at approximately $355,000. LMR Partners LLP acquired a new stake in Regency Centers in the third quarter worth $259,000. Finally, Quest Partners LLC raised its holdings in shares of Regency Centers by 84.8% during the third quarter. Quest Partners LLC now owns 937 shares of the company’s stock worth $68,000 after acquiring an additional 430 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Regency Centers Stock Performance

REG opened at $74.53 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.65. The company has a market cap of $13.53 billion, a price-to-earnings ratio of 34.99, a PEG ratio of 4.09 and a beta of 1.21. Regency Centers Co. has a 52-week low of $56.51 and a 52-week high of $75.26. The firm’s fifty day simple moving average is $72.37 and its two-hundred day simple moving average is $67.60.

Regency Centers (NASDAQ:REG) last issued its earnings results on Monday, October 28th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.50). Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. The business had revenue of $360.27 million during the quarter, compared to analyst estimates of $355.17 million. During the same quarter last year, the company earned $1.02 earnings per share. Equities analysts anticipate that Regency Centers Co. will post 4.28 earnings per share for the current fiscal year.

Regency Centers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 16th will be given a dividend of $0.705 per share. This is a boost from Regency Centers’s previous quarterly dividend of $0.67. This represents a $2.82 annualized dividend and a yield of 3.78%. The ex-dividend date is Monday, December 16th. Regency Centers’s dividend payout ratio (DPR) is presently 125.82%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Truist Financial lifted their price objective on shares of Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Scotiabank upped their price objective on shares of Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Mizuho boosted their target price on shares of Regency Centers from $67.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Robert W. Baird increased their target price 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. Finally, KeyCorp began coverage on shares of Regency Centers in a research report on Friday, October 25th. They set an “overweight” rating and a $80.00 price target for the company. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Regency Centers presently has a consensus rating of “Buy” and a consensus price target of $76.92.

About Regency Centers

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.