Avantax Advisory Services Inc. Trims Stake in Regency Centers Corporation (NASDAQ:REG)

Avantax Advisory Services Inc. reduced its position in Regency Centers Corporation (NASDAQ:REG) by 18.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,060 shares of the company’s stock after selling 1,355 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Regency Centers were worth $447,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in REG. Wellington Management Group LLP raised its position in Regency Centers by 185.9% in the 4th quarter. Wellington Management Group LLP now owns 42,642 shares of the company’s stock worth $3,153,000 after purchasing an additional 27,725 shares during the period. Wells Fargo & Company MN increased its position in shares of Regency Centers by 11.6% during the fourth quarter. Wells Fargo & Company MN now owns 185,469 shares of the company’s stock worth $13,712,000 after acquiring an additional 19,309 shares during the period. Aviva PLC increased its position in shares of Regency Centers by 88.2% during the fourth quarter. Aviva PLC now owns 104,374 shares of the company’s stock worth $7,716,000 after acquiring an additional 48,924 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Regency Centers by 52.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 117,187 shares of the company’s stock worth $8,664,000 after acquiring an additional 40,357 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Regency Centers by 3.6% during the fourth quarter. Russell Investments Group Ltd. now owns 151,128 shares of the company’s stock worth $11,151,000 after acquiring an additional 5,225 shares during the period. 96.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Regency Centers

In other news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of Regency Centers stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $72.44, for a total transaction of $301,205.52. Following the completion of the sale, the insider directly owned 33,069 shares in the company, valued at approximately $2,395,518.36. The trade was a 11.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Regency Centers Price Performance

Shares of REG opened at $73.20 on Thursday. The company has a market cap of $13.29 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 3.54 and a beta of 1.05. Regency Centers Corporation has a twelve month low of $63.44 and a twelve month high of $78.18. The company has a quick ratio of 1.01, a current ratio of 1.13 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average of $70.96 and a two-hundred day moving average of $71.85.

Regency Centers (NASDAQ:REG) last announced its earnings results on Tuesday, July 29th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.04. The company had revenue of $369.85 million during the quarter, compared to the consensus estimate of $366.35 million. Regency Centers had a net margin of 27.00% and a return on equity of 6.05%. Regency Centers’s revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $1.06 earnings per share. As a group, analysts predict that Regency Centers Corporation will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a dividend yield of 3.9%. Regency Centers’s payout ratio is currently 131.78%.

Analyst Ratings Changes

A number of brokerages have recently commented on REG. Scotiabank reduced their target price on shares of Regency Centers from $76.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Monday, May 12th. Robert W. Baird raised their target price on shares of Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 30th. Truist Financial raised their target price on shares of Regency Centers from $78.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, May 19th. Wall Street Zen lowered shares of Regency Centers from a “hold” rating to a “sell” rating in a research report on Saturday, July 5th. Finally, Mizuho reduced 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. One analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.92.

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.