Vestcor Inc Purchases 5,755 Shares of Regency Centers Co. (NASDAQ:REG)

Vestcor Inc raised its position in shares of Regency Centers Co. (NASDAQ:REG) by 161.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,315 shares of the company’s stock after acquiring an additional 5,755 shares during the period. Vestcor Inc’s holdings in Regency Centers were worth $689,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. KBC Group NV grew its holdings in shares of Regency Centers by 303.3% in the third quarter. KBC Group NV now owns 169,927 shares of the company’s stock worth $12,274,000 after purchasing an additional 127,796 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of Regency Centers by 21.3% in the third quarter. Metis Global Partners LLC now owns 22,217 shares of the company’s stock worth $1,605,000 after purchasing an additional 3,902 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Regency Centers by 18.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,915 shares of the company’s stock worth $355,000 after purchasing an additional 748 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Regency Centers by 7.5% in the third quarter. CIBC Asset Management Inc now owns 24,544 shares of the company’s stock worth $1,773,000 after purchasing an additional 1,722 shares during the last quarter. Finally, Prudent Man Advisors LLC bought a new position in shares of Regency Centers in the third quarter worth about $213,000. Institutional investors own 96.07% of the company’s stock.

Insider Activity

In other news, CEO Lisa Palmer sold 25,000 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the transaction, the chief executive officer now owns 139,923 shares in the company, valued at $10,250,758.98. This represents a 15.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 transaction of $3,674,000.00. Following the transaction, the chairman now owns 110,263 shares in the company, valued at approximately $8,102,125.24. This trade represents a 31.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,000 shares of company stock worth $6,977,500 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Regency Centers Stock Performance

REG stock opened at $71.07 on Monday. The firm has a market cap of $12.89 billion, a price-to-earnings ratio of 33.52, a PEG ratio of 3.75 and a beta of 1.23. The firm has a 50-day simple moving average of $72.81 and a two-hundred day simple moving average of $73.03. Regency Centers Co. has a one year low of $56.51 and a one year high of $78.18. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 0.85.

Regency Centers (NASDAQ:REG) last released its quarterly earnings results on Thursday, February 6th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. On average, equities analysts forecast that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on REG. BTIG Research upped their price target 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. Mizuho upped their price objective on shares of Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 8th. Evercore ISI lowered their price objective on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Finally, Wells Fargo & Company lowered their price objective on shares of Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.08.

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.