Retirement Systems of Alabama Trims Stake in Regency Centers Co. (NASDAQ:REG)

Retirement Systems of Alabama lessened its position in shares of Regency Centers Co. (NASDAQ:REG) by 1.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 130,301 shares of the company’s stock after selling 1,425 shares during the quarter. Retirement Systems of Alabama owned about 0.07% of Regency Centers worth $9,412,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in REG. Thrivent Financial for Lutherans raised its holdings in shares of Regency Centers by 170.1% in the second quarter. Thrivent Financial for Lutherans now owns 80,107 shares of the company’s stock valued at $4,983,000 after buying an additional 50,444 shares during the last quarter. Raymond James & Associates raised its stake in Regency Centers by 41.2% during the 2nd quarter. Raymond James & Associates now owns 151,913 shares of the company’s stock valued at $9,449,000 after acquiring an additional 44,290 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in Regency Centers by 60.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 33,618 shares of the company’s stock worth $2,091,000 after acquiring an additional 12,682 shares during the period. Trustmark National Bank Trust Department purchased a new position in shares of Regency Centers in the 3rd quarter valued at approximately $719,000. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Regency Centers by 9.3% in the third quarter. Royal London Asset Management Ltd. now owns 105,433 shares of the company’s stock valued at $7,615,000 after purchasing an additional 8,959 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on REG shares. Mizuho increased their price objective on Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. BTIG Research boosted their price objective on shares of Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft cut shares of Regency Centers from a “buy” rating to a “hold” rating and increased their target price for the company from $70.00 to $75.00 in a report on Thursday, September 26th. Compass Point lifted their price target on shares of Regency Centers from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Scotiabank upped their price target on Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $77.08.

Regency Centers Stock Up 1.0 %

Shares of NASDAQ:REG opened at $75.40 on Tuesday. 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 capitalization of $13.69 billion, a P/E ratio of 35.40, a P/E/G ratio of 4.16 and a beta of 1.22. Regency Centers Co. has a 52-week low of $56.51 and a 52-week high of $76.53. The stock’s fifty day simple moving average is $73.27 and its 200-day simple moving average is $69.53.

Regency Centers (NASDAQ:REG) last released its earnings results on Monday, October 28th. The company reported $0.54 earnings per share (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 firm had revenue of $360.27 million during the quarter, compared to analysts’ expectations of $355.17 million. During the same quarter last year, the company posted $1.02 earnings per share. As a group, equities research analysts forecast that Regency Centers Co. will post 4.28 earnings per share for the current fiscal year.

Regency Centers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 16th will be paid a $0.705 dividend. 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 3.74%. The ex-dividend date is Monday, December 16th. Regency Centers’s payout ratio is presently 125.82%.

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.