Ameriprise Financial Inc. Buys 4,734 Shares of Regency Centers Co. (NASDAQ:REG)

Ameriprise Financial Inc. lifted its stake in Regency Centers Co. (NASDAQ:REG) by 8.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,776 shares of the company’s stock after acquiring an additional 4,734 shares during the period. Ameriprise Financial Inc.’s holdings in Regency Centers were worth $4,431,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in Regency Centers during the 4th quarter worth $1,262,425,000. JPMorgan Chase & Co. grew its stake in Regency Centers by 0.5% during the 4th quarter. JPMorgan Chase & Co. now owns 11,141,771 shares of the company’s stock worth $823,711,000 after buying an additional 51,424 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Regency Centers by 1.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,440,384 shares of the company’s stock worth $771,859,000 after buying an additional 171,047 shares during the last quarter. Principal Financial Group Inc. grew its stake in Regency Centers by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company’s stock worth $678,873,000 after buying an additional 366,427 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Regency Centers by 121.2% during the 4th quarter. Invesco Ltd. now owns 5,374,450 shares of the company’s stock worth $397,333,000 after buying an additional 2,944,854 shares during the last quarter. 96.07% of the stock is owned by institutional investors.

Insider Transactions at Regency Centers

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $72.44, for a total value of $301,205.52. Following the completion of the transaction, the insider now owns 33,069 shares of the company’s stock, valued at approximately $2,395,518.36. This represents a 11.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $73.48, for a total value of $3,674,000.00. Following the completion of the transaction, the chairman now directly owns 110,263 shares of the company’s stock, valued at $8,102,125.24. The trade was a 31.20% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on REG shares. Scotiabank dropped their target price on Regency Centers from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research note on Monday, May 12th. Wells Fargo & Company dropped their target price on Regency Centers from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Finally, Truist Financial boosted their target price on Regency Centers from $78.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.08.

Regency Centers Stock Down 0.1%

Shares of REG opened at $71.01 on Monday. Regency Centers Co. has a 52 week low of $58.19 and a 52 week high of $78.18. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $12.89 billion, a price-to-earnings ratio of 33.50, a PEG ratio of 3.75 and a beta of 1.02. The stock’s 50-day moving average price is $71.54 and its 200-day moving average price is $72.77.

Regency Centers (NASDAQ:REG) last issued its earnings results on Tuesday, April 29th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.01. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. The firm had revenue of $370.35 million for the quarter, compared to the consensus estimate of $364.64 million. During the same quarter in the prior year, the business earned $1.08 earnings per share. On average, sell-side analysts predict that Regency Centers Co. will post 4.54 EPS for the current year.

Regency Centers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Wednesday, June 11th will be paid a $0.705 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.97%. Regency Centers’s payout ratio is 133.02%.

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.