Regency Centers Co. (NASDAQ:REG) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lowered its stake in shares of Regency Centers Co. (NASDAQ:REG) by 90.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,200 shares of the company’s stock after selling 78,450 shares during the quarter. Intact Investment Management Inc.’s holdings in Regency Centers were worth $606,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Regency Centers by 1.1% during the third quarter. State Street Corp now owns 11,768,052 shares of the company’s stock worth $857,892,000 after buying an additional 131,300 shares during the last quarter. JPMorgan Chase & Co. raised its position in Regency Centers by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 11,090,347 shares of the company’s stock valued at $801,056,000 after purchasing an additional 435,932 shares during the period. Principal Financial Group Inc. raised its position in Regency Centers by 4.2% in the fourth quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company’s stock valued at $678,873,000 after purchasing an additional 366,427 shares during the period. Charles Schwab Investment Management Inc. raised its position in Regency Centers by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,328,510 shares of the company’s stock valued at $172,147,000 after purchasing an additional 15,975 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 valued at $149,932,000 after purchasing an additional 1,908,153 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on REG. Evercore ISI reduced their target price on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th. Mizuho lifted their target price on Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Wells Fargo & Company reduced their target price on Regency Centers from $81.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Finally, BTIG Research boosted their price objective on Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.08.

Regency Centers Price Performance

Shares of NASDAQ REG opened at $71.07 on Friday. The stock’s 50-day moving average is $72.81 and its two-hundred day moving average is $73.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95. Regency Centers Co. has a 1-year low of $56.51 and a 1-year high of $78.18. The company has a market cap of $12.89 billion, a price-to-earnings ratio of 33.52, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last issued 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 return on equity of 5.91% and a net margin of 27.54%. Analysts forecast that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a dividend of $0.705 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $2.82 annualized dividend and a dividend yield of 3.97%. Regency Centers’s dividend payout ratio is currently 133.02%.

Insider Transactions 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 stock was 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 $10,250,758.98. This represents a 15.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $73.48, for a total value of $3,674,000.00. Following the completion of the sale, the chairman now directly owns 110,263 shares of the company’s stock, valued at approximately $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 currently owned by corporate insiders.

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.