Goldman Sachs Group Inc. trimmed its stake in Regency Centers Co. (NYSE:REG) by 18.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,210,068 shares of the real estate investment trust’s stock after selling 267,884 shares during the period. Goldman Sachs Group Inc. owned about 0.71% of Regency Centers worth $83,712,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. ZWJ Investment Counsel Inc. acquired a new position in shares of Regency Centers in the fourth quarter valued at approximately $201,000. Wetherby Asset Management Inc. acquired a new position in Regency Centers during the 4th quarter worth approximately $213,000. WINTON GROUP Ltd acquired a new position in Regency Centers during the 3rd quarter worth approximately $219,000. Commerzbank Aktiengesellschaft FI acquired a new position in Regency Centers during the 4th quarter worth approximately $227,000. Finally, Parametrica Management Ltd acquired a new position in Regency Centers during the 4th quarter worth approximately $229,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Bryce Blair acquired 1,709 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were acquired at an average cost of $58.50 per share, for a total transaction of $99,976.50. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John C. Schweitzer sold 7,136 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $58.36, for a total transaction of $416,456.96. Following the transaction, the director now owns 45,847 shares in the company, valued at $2,675,630.92. The disclosure for this sale can be found here. Insiders have sold a total of 2,347,072 shares of company stock worth $139,128,434 over the last ninety days. 1.10% of the stock is owned by corporate insiders.
NYSE REG traded down $0.97 during trading hours on Friday, reaching $58.70. The company’s stock had a trading volume of 860,953 shares, compared to its average volume of 1,180,593. The stock has a market cap of $10,191.31, a price-to-earnings ratio of 15.91, a PEG ratio of 2.24 and a beta of 0.47. Regency Centers Co. has a fifty-two week low of $54.87 and a fifty-two week high of $70.64. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.53.
Regency Centers (NYSE:REG) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by ($0.42). Regency Centers had a net margin of 18.16% and a return on equity of 2.71%. The business had revenue of $257.95 million during the quarter, compared to analyst estimates of $257.60 million. During the same period in the previous year, the company posted $0.86 earnings per share. research analysts expect that Regency Centers Co. will post 3.8 earnings per share for the current year.
Regency Centers declared that its board has approved a stock buyback plan on Thursday, February 8th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Several brokerages have recently weighed in on REG. Morgan Stanley began coverage on shares of Regency Centers in a research report on Tuesday, March 27th. They set an “overweight” rating and a $65.00 price objective for the company. Robert W. Baird reiterated a “buy” rating and issued a $68.00 price target on shares of Regency Centers in a research report on Wednesday, March 21st. Deutsche Bank reduced their price target on shares of Regency Centers from $73.00 to $72.00 and set a “hold” rating for the company in a research report on Monday, March 19th. SunTrust Banks set a $67.00 price target on shares of Regency Centers and gave the company a “buy” rating in a research report on Friday, March 2nd. Finally, Wells Fargo reiterated an “outperform” rating and issued a $65.00 price target (down previously from $76.00) on shares of Regency Centers in a research report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $69.04.
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Regency Centers Company Profile
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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.
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