Intact Investment Management Inc. Cuts Stock Position in Regency Centers Co. (NASDAQ:REG)

Intact Investment Management Inc. reduced its position in Regency Centers Co. (NASDAQ:REG) by 56.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 25,100 shares of the company’s stock after selling 32,400 shares during the quarter. Intact Investment Management Inc.’s holdings in Regency Centers were worth $1,682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Retirement Systems of Alabama boosted its holdings in shares of Regency Centers by 1.5% in the 3rd quarter. Retirement Systems of Alabama now owns 130,908 shares of the company’s stock worth $7,781,000 after purchasing an additional 1,917 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Regency Centers by 5.7% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 32,817 shares of the company’s stock valued at $1,951,000 after acquiring an additional 1,775 shares during the period. NewEdge Wealth LLC purchased a new stake in Regency Centers during the 4th quarter valued at about $275,000. International Assets Investment Management LLC boosted its holdings in Regency Centers by 6,591.3% during the 4th quarter. International Assets Investment Management LLC now owns 16,862 shares of the company’s stock valued at $1,130,000 after acquiring an additional 16,610 shares during the period. Finally, Barclays PLC boosted its holdings in Regency Centers by 165.6% during the 3rd quarter. Barclays PLC now owns 711,096 shares of the company’s stock valued at $42,267,000 after acquiring an additional 443,407 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Regency Centers Stock Performance

Shares of REG stock traded down $0.78 on Friday, reaching $58.28. The stock had a trading volume of 1,398,371 shares, compared to its average volume of 1,211,169. The stock has a market cap of $10.77 billion, a P/E ratio of 28.57, a price-to-earnings-growth ratio of 3.84 and a beta of 1.16. Regency Centers Co. has a 1 year low of $54.72 and a 1 year high of $68.47. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50 day simple moving average of $59.90 and a 200 day simple moving average of $61.71.

Regency Centers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 13th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, March 12th. This represents a $2.68 annualized dividend and a yield of 4.60%. Regency Centers’s dividend payout ratio (DPR) is presently 131.37%.

Analysts Set New Price Targets

REG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on Regency Centers in a report on Tuesday, January 30th. They set a “buy” rating and a $74.00 target price for the company. Evercore ISI upgraded Regency Centers from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $69.00 to $71.00 in a report on Monday, January 22nd. Mizuho initiated coverage on Regency Centers in a report on Thursday, April 18th. They issued a “neutral” rating and a $60.00 price objective for the company. Truist Financial increased their target price on Regency Centers from $71.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Finally, Wells Fargo & Company initiated coverage on Regency Centers in a report on Thursday, February 1st. They issued an “overweight” rating and a $70.00 target price for the company. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.73.

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.