Northern Trust Corp Increases Stock Holdings in Regency Centers Corp (NYSE:REG)
Northern Trust Corp raised its position in Regency Centers Corp (NYSE:REG) by 10.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,918,311 shares of the real estate investment trust’s stock after acquiring an additional 275,397 shares during the quarter. Northern Trust Corp owned approximately 1.74% of Regency Centers worth $194,768,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in REG. BlackRock Inc. grew its holdings in shares of Regency Centers by 1.7% in the first quarter. BlackRock Inc. now owns 16,930,814 shares of the real estate investment trust’s stock valued at $1,142,661,000 after purchasing an additional 282,603 shares in the last quarter. Principal Financial Group Inc. boosted its position in Regency Centers by 6.4% in the 1st quarter. Principal Financial Group Inc. now owns 6,178,121 shares of the real estate investment trust’s stock valued at $416,958,000 after buying an additional 372,002 shares during the period. PGGM Investments grew its stake in shares of Regency Centers by 54.0% in the second quarter. PGGM Investments now owns 4,070,645 shares of the real estate investment trust’s stock worth $271,675,000 after acquiring an additional 1,427,645 shares in the last quarter. FMR LLC grew its stake in shares of Regency Centers by 1.6% in the first quarter. FMR LLC now owns 3,612,375 shares of the real estate investment trust’s stock worth $243,799,000 after acquiring an additional 57,663 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Regency Centers by 8.6% during the fourth quarter. Geode Capital Management LLC now owns 2,892,742 shares of the real estate investment trust’s stock worth $169,522,000 after acquiring an additional 229,816 shares during the period. 93.87% of the stock is owned by institutional investors.
Several brokerages have recently issued reports on REG. Compass Point initiated coverage on Regency Centers in a research note on Thursday, August 15th. They issued a “neutral” rating and a $67.00 price objective on the stock. BMO Capital Markets set a $64.00 price target on Regency Centers and gave the stock a “hold” rating in a report on Friday, August 2nd. Scotiabank raised Regency Centers from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $68.00 to $72.00 in a research report on Friday, August 16th. Finally, Citigroup set a $76.00 price objective on Regency Centers and gave the company a “buy” rating in a research note on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $68.83.
Regency Centers (NYSE:REG) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.01). Regency Centers had a return on equity of 3.86% and a net margin of 23.19%. The business had revenue of $268.43 million for the quarter, compared to analysts’ expectations of $271.87 million. During the same period last year, the firm earned $0.28 earnings per share. On average, sell-side analysts forecast that Regency Centers Corp will post 3.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Monday, August 12th were issued a $0.585 dividend. This represents a $2.34 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Friday, August 9th. Regency Centers’s dividend payout ratio (DPR) is 63.41%.
In other news, Director Thomas G. Wattles sold 2,073 shares of Regency Centers stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $65.47, for a total transaction of $135,719.31. Following the sale, the director now owns 49,085 shares in the company, valued at $3,213,594.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider H Craig Ramey sold 1,210 shares of Regency Centers stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $65.29, for a total value of $79,000.90. Following the sale, the insider now owns 15,766 shares in the company, valued at approximately $1,029,362.14. The disclosure for this sale can be found here. Insiders sold 9,783 shares of company stock valued at $639,965 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.
About Regency Centers
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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.
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