The Manufacturers Life Insurance Company raised its position in shares of Regency Centers Corp (NYSE:REG) by 12.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 158,328 shares of the real estate investment trust’s stock after purchasing an additional 17,398 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Regency Centers were worth $9,338,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of REG. Virtu Financial LLC purchased a new stake in Regency Centers during the 4th quarter valued at about $620,000. American International Group Inc. grew its stake in Regency Centers by 14.9% during the 4th quarter. American International Group Inc. now owns 50,688 shares of the real estate investment trust’s stock valued at $3,507,000 after purchasing an additional 6,571 shares during the last quarter. Baird Financial Group Inc. purchased a new stake in Regency Centers during the 4th quarter valued at about $346,000. Amalgamated Bank grew its stake in Regency Centers by 5.7% during the 4th quarter. Amalgamated Bank now owns 30,943 shares of the real estate investment trust’s stock valued at $2,141,000 after purchasing an additional 1,660 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new stake in Regency Centers during the 4th quarter valued at about $400,000. Institutional investors and hedge funds own 91.78% of the company’s stock.
Several analysts have weighed in on REG shares. SunTrust Banks set a $67.00 price target on Regency Centers and gave the company a “buy” rating in a research note on Friday, March 2nd. Robert W. Baird restated a “buy” rating and issued a $68.00 target price on shares of Regency Centers in a research note on Wednesday, March 21st. Boenning Scattergood restated a “hold” rating on shares of Regency Centers in a research note on Wednesday, May 2nd. BMO Capital Markets set a $68.00 target price on Regency Centers and gave the stock a “hold” rating in a research note on Tuesday, May 1st. Finally, Barclays restated a “hold” rating and issued a $63.00 target price on shares of Regency Centers in a research note on Tuesday, April 17th. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Regency Centers currently has an average rating of “Buy” and an average target price of $68.32.
Shares of Regency Centers opened at $62.08 on Friday, MarketBeat Ratings reports. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 2.32 and a beta of 0.48. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.58. Regency Centers Corp has a 12-month low of $54.87 and a 12-month high of $70.64.
Regency Centers (NYSE:REG) last issued its quarterly earnings results on Monday, April 30th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.63). The business had revenue of $269.54 million for the quarter, compared to analysts’ expectations of $263.14 million. Regency Centers had a return on equity of 3.83% and a net margin of 23.85%. During the same quarter in the prior year, the company posted $0.90 EPS. research analysts predict that Regency Centers Corp will post 3.78 EPS for the current year.
In other Regency Centers news, insider H Craig Ramey sold 1,200 shares of the stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $58.80, for a total transaction of $70,560.00. Following the transaction, the insider now owns 17,137 shares in the company, valued at $1,007,655.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.
Regency Centers 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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