Sequoia Financial Advisors LLC Makes New $255,000 Investment in Regency Centers Co. (NASDAQ:REG)

Sequoia Financial Advisors LLC bought a new position in Regency Centers Co. (NASDAQ:REG) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,799 shares of the company’s stock, valued at approximately $255,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in shares of Regency Centers in the fourth quarter worth $1,011,208,000. Invesco Ltd. grew its holdings in shares of Regency Centers by 115.7% in the third quarter. Invesco Ltd. now owns 4,852,979 shares of the company’s stock worth $288,461,000 after acquiring an additional 2,603,320 shares during the period. Vanguard Group Inc. grew its holdings in shares of Regency Centers by 6.2% in the third quarter. Vanguard Group Inc. now owns 28,378,732 shares of the company’s stock worth $1,686,832,000 after acquiring an additional 1,645,784 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Regency Centers by 22.0% in the third quarter. JPMorgan Chase & Co. now owns 5,348,492 shares of the company’s stock worth $317,914,000 after acquiring an additional 964,488 shares during the period. Finally, State Street Corp grew its holdings in shares of Regency Centers by 8.1% in the first quarter. State Street Corp now owns 11,923,732 shares of the company’s stock worth $857,927,000 after acquiring an additional 890,452 shares during the period. Institutional investors own 96.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on REG. Truist Financial lifted their price objective on Regency Centers from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Evercore ISI raised Regency Centers from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $69.00 to $71.00 in a report on Monday, January 22nd. Deutsche Bank Aktiengesellschaft began coverage on Regency Centers in a report on Tuesday, January 30th. They set a “buy” rating and a $74.00 price target for the company. Mizuho began coverage on Regency Centers in a report on Thursday. They set a “neutral” rating and a $60.00 price target for the company. Finally, Wells Fargo & Company began coverage on Regency Centers in a report on Thursday, February 1st. They set an “overweight” rating and a $70.00 price target for the company. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.73.

Regency Centers Price Performance

Shares of Regency Centers stock opened at $58.37 on Friday. The stock’s 50-day simple moving average is $60.05 and its 200-day simple moving average is $61.65. Regency Centers Co. has a 52 week low of $54.72 and a 52 week high of $68.47. The company has a market capitalization of $10.79 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 3.80 and a beta of 1.16. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.60.

Regency Centers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $2.68 annualized dividend and a dividend yield of 4.59%. Regency Centers’s payout ratio is 131.37%.

About Regency Centers

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.