Envestnet Asset Management Inc. Increases Holdings in Regency Centers Corporation (NASDAQ:REG)

Envestnet Asset Management Inc. raised its position in Regency Centers Corporation (NASDAQ:REG) by 3.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 120,960 shares of the company’s stock after buying an additional 3,773 shares during the period. Envestnet Asset Management Inc. owned approximately 0.07% of Regency Centers worth $8,922,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in REG. Wayfinding Financial LLC bought a new position in shares of Regency Centers in the first quarter valued at approximately $25,000. Heck Capital Advisors LLC bought a new stake in Regency Centers during the fourth quarter worth approximately $26,000. TD Waterhouse Canada Inc. boosted its holdings in Regency Centers by 48,700.0% during the fourth quarter. TD Waterhouse Canada Inc. now owns 488 shares of the company’s stock worth $36,000 after buying an additional 487 shares in the last quarter. Sentry Investment Management LLC bought a new stake in Regency Centers during the first quarter worth approximately $38,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in Regency Centers during the fourth quarter worth approximately $39,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Regency Centers Stock Performance

REG stock opened at $69.76 on Tuesday. The firm has a market cap of $12.66 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 3.40 and a beta of 1.00. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.70. Regency Centers Corporation has a twelve month low of $63.44 and a twelve month high of $78.18. The business’s fifty day simple moving average is $71.17 and its two-hundred day simple moving average is $71.79.

Regency Centers (NASDAQ:REG) last released 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. The firm had revenue of $370.35 million during the quarter, compared to the consensus estimate of $364.64 million. Regency Centers had a return on equity of 5.98% and a net margin of 27.21%. During the same quarter in the previous year, the company posted $1.08 earnings per share. Analysts predict that Regency Centers Corporation will post 4.54 earnings per share for the current year.

Regency Centers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Wednesday, June 11th were issued a dividend of $0.705 per share. The ex-dividend date was Wednesday, June 11th. This represents a $2.82 annualized dividend and a yield of 4.04%. Regency Centers’s dividend payout ratio (DPR) is 133.02%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on REG. Scotiabank lowered their price target on shares of Regency Centers from $76.00 to $75.00 and set a “sector perform” rating on the stock in a report on Monday, May 12th. Mizuho decreased their target price on shares of Regency Centers from $79.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Truist Financial upped their price objective on shares of Regency Centers from $78.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, May 19th. Wells Fargo & Company reduced their target price on shares of Regency Centers from $80.00 to $79.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. Finally, Wall Street Zen lowered shares of Regency Centers from a “hold” rating to a “sell” rating in a report on Saturday, July 5th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Regency Centers has a consensus rating of “Moderate Buy” and a consensus price target of $77.54.

Insiders Place Their Bets

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 sale, the insider directly owned 33,069 shares of the company’s stock, valued at $2,395,518.36. This represents a 11.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Regency Centers Company Profile

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.