Cadence Capital Management LLC Grows Position in Regency Centers Corporation (REG)
Cadence Capital Management LLC increased its stake in shares of Regency Centers Corporation (NYSE:REG) by 40.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,454 shares of the real estate investment trust’s stock after buying an additional 3,317 shares during the quarter. Cadence Capital Management LLC’s holdings in Regency Centers were worth $711,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IHT Wealth Management LLC purchased a new position in shares of Regency Centers during the second quarter worth about $124,000. Perigon Wealth Management LLC lifted its position in Regency Centers by 93.2% in the second quarter. Perigon Wealth Management LLC now owns 2,125 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 1,025 shares during the period. Global X Management Co. LLC acquired a new stake in Regency Centers in the second quarter valued at about $179,000. Advisor Group Inc. lifted its position in Regency Centers by 15.6% in the second quarter. Advisor Group Inc. now owns 2,999 shares of the real estate investment trust’s stock valued at $188,000 after purchasing an additional 404 shares during the period. Finally, Riverhead Capital Management LLC lifted its position in Regency Centers by 342.9% in the second quarter. Riverhead Capital Management LLC now owns 3,100 shares of the real estate investment trust’s stock valued at $194,000 after purchasing an additional 2,400 shares during the period. 92.49% of the stock is currently owned by hedge funds and other institutional investors.
REG has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Regency Centers from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Thursday, September 14th. BMO Capital Markets initiated coverage on shares of Regency Centers in a research report on Monday, September 11th. They issued a “market perform” rating and a $65.00 price objective for the company. Jefferies Group downgraded shares of Regency Centers from a “buy” rating to a “hold” rating and reduced their price objective for the company from $74.00 to $67.00 in a research report on Friday, September 15th. Boenning Scattergood restated a “hold” rating on shares of Regency Centers in a research report on Monday, November 6th. Finally, Argus reduced their price objective on shares of Regency Centers from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, August 31st. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $70.59.
Regency Centers Corporation (REG) traded up $0.54 during mid-day trading on Tuesday, hitting $68.60. 1,220,000 shares of the stock were exchanged, compared to its average volume of 1,160,062. Regency Centers Corporation has a 52 week low of $58.63 and a 52 week high of $72.05. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market cap of $11,670.00, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 2.27 and a beta of 0.58.
Regency Centers (NYSE:REG) last posted its quarterly earnings results on Wednesday, November 1st. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.04. Regency Centers had a net margin of 17.59% and a return on equity of 2.82%. The company had revenue of $262.14 million during the quarter, compared to the consensus estimate of $254.04 million. During the same period last year, the firm earned $0.81 EPS. equities research analysts expect that Regency Centers Corporation will post 3.68 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Stockholders of record on Wednesday, November 15th were paid a dividend of $0.53 per share. The ex-dividend date was Tuesday, November 14th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.09%. Regency Centers’s dividend payout ratio (DPR) is 235.56%.
In other news, Vice Chairman Chaim Katzman sold 1,055,758 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $64.30, for a total transaction of $67,885,239.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 12.66% of the company’s stock.
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Regency Centers Company Profile
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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