Commerce Bank Trims Holdings in Regency Centers Co. (NASDAQ:REG)

Commerce Bank trimmed its holdings in shares of Regency Centers Co. (NASDAQ:REG) by 8.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,631 shares of the company’s stock after selling 846 shares during the quarter. Commerce Bank’s holdings in Regency Centers were worth $623,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. PGGM Investments lifted its holdings in Regency Centers by 2,586.9% during the 2nd quarter. PGGM Investments now owns 1,670,607 shares of the company’s stock valued at $103,912,000 after buying an additional 1,608,431 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Regency Centers by 4.2% in the second quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock valued at $555,009,000 after purchasing an additional 357,091 shares during the period. abrdn plc grew its stake in Regency Centers by 199.7% in the third quarter. abrdn plc now owns 375,059 shares of the company’s stock worth $27,006,000 after purchasing an additional 249,929 shares in the last quarter. Lasalle Investment Management Securities LLC increased its holdings in Regency Centers by 92.6% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 437,213 shares of the company’s stock worth $26,478,000 after purchasing an additional 210,161 shares during the period. Finally, Swedbank AB purchased a new stake in shares of Regency Centers in the 1st quarter worth $10,796,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on REG. KeyCorp began coverage on Regency Centers in a research note on Friday, October 25th. They set an “overweight” rating and a $80.00 price target on the stock. Evercore ISI upgraded shares of Regency Centers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Truist Financial increased their price objective on shares of Regency Centers from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Mizuho boosted their price objective on shares of Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft cut 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 research report on Thursday, September 26th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $76.92.

Regency Centers Price Performance

Shares of REG stock opened at $74.02 on Tuesday. Regency Centers Co. has a fifty-two week low of $56.51 and a fifty-two week high of $75.26. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $13.43 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 4.09 and a beta of 1.21. The stock’s 50-day simple moving average is $72.34 and its 200-day simple moving average is $67.93.

Regency Centers (NASDAQ:REG) last released its earnings results on Monday, October 28th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.50). Regency Centers had a return on equity of 5.85% and a net margin of 27.78%. The company had revenue of $360.27 million for the quarter, compared to analysts’ expectations of $355.17 million. During the same period in the prior year, the firm posted $1.02 EPS. As a group, equities 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 declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 16th will be given a dividend of $0.705 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.82 dividend on an annualized basis and a yield of 3.81%. This is a boost from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s payout ratio is currently 125.82%.

Regency Centers Company 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.