abrdn plc Has $6.46 Million Stock Holdings in Regency Centers Co. (NASDAQ:REG)

abrdn plc cut its position in shares of Regency Centers Co. (NASDAQ:REG – Get Rating) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,317 shares of the company’s stock after selling 5,004 shares during the quarter. abrdn plc owned 0.06% of Regency Centers worth $6,457,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. PGGM Investments bought a new position in Regency Centers during the third quarter worth about $93,351,000. State Street Corp lifted its stake in Regency Centers by 8.1% during the first quarter. State Street Corp now owns 11,923,732 shares of the company’s stock worth $857,927,000 after purchasing an additional 890,452 shares during the period. Centersquare Investment Management LLC lifted its stake in Regency Centers by 334.8% during the third quarter. Centersquare Investment Management LLC now owns 1,126,085 shares of the company’s stock worth $60,640,000 after purchasing an additional 867,099 shares during the period. Goldman Sachs Group Inc. lifted its stake in Regency Centers by 119.7% during the second quarter. Goldman Sachs Group Inc. now owns 1,233,170 shares of the company’s stock worth $73,139,000 after purchasing an additional 671,905 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Regency Centers by 1.6% during the first quarter. Vanguard Group Inc. now owns 26,552,444 shares of the company’s stock worth $1,894,252,000 after purchasing an additional 425,589 shares during the period. 88.58% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on REG shares. Truist Financial cut their price target on shares of Regency Centers from $73.00 to $71.00 in a research note on Monday, May 15th. Barclays raised their price target on shares of Regency Centers from $70.00 to $71.00 in a research note on Friday. Finally, StockNews.com initiated coverage on shares of Regency Centers in a research note on Thursday. They issued a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Regency Centers has a consensus rating of “Moderate Buy” and an average target price of $68.09.

Regency Centers Stock Performance

REG stock opened at $57.63 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50 day moving average price of $60.02 and a 200 day moving average price of $61.69. Regency Centers Co. has a fifty-two week low of $51.97 and a fifty-two week high of $69.35. The stock has a market capitalization of $9.85 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 3.95 and a beta of 1.15.

Regency Centers announced that its board has approved a share repurchase program on Thursday, February 9th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to reacquire up to 2.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Regency Centers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Wednesday, June 14th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Tuesday, June 13th. Regency Centers’s dividend payout ratio (DPR) is presently 115.56%.

Regency Centers Company Profile

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Regency Centers Corp. operates as a real estate investment trust, which engages in the ownership, operation, and development of retail shopping centers. Its portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to its neighborhoods, communities, and customers.