Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in Regency Centers Co. (NASDAQ:REG)

Sumitomo Mitsui Trust Group Inc. raised its stake in Regency Centers Co. (NASDAQ:REG) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 731,045 shares of the company’s stock after buying an additional 57,020 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Regency Centers were worth $54,046,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp increased its stake in Regency Centers by 1.1% in the 3rd quarter. State Street Corp now owns 11,768,052 shares of the company’s stock valued at $857,892,000 after purchasing an additional 131,300 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Regency Centers by 4.1% in the third quarter. JPMorgan Chase & Co. now owns 11,090,347 shares of the company’s stock valued at $801,056,000 after purchasing an additional 435,932 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Regency Centers by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,312,535 shares of the company’s stock valued at $167,034,000 after buying an additional 71,278 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Regency Centers by 1,138.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,075,753 shares of the company’s stock worth $149,932,000 after buying an additional 1,908,153 shares during the last quarter. Finally, abrdn plc boosted its position in shares of Regency Centers by 27.7% in the 4th quarter. abrdn plc now owns 478,931 shares of the company’s stock worth $35,182,000 after buying an additional 103,872 shares in the last quarter. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Robert W. Baird raised their target price on shares of Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. KeyCorp assumed coverage on Regency Centers in a research report on Friday, October 25th. They set an “overweight” rating and a $80.00 price objective for the company. Evercore ISI lowered their target price on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. JPMorgan Chase & Co. boosted their price target on Regency Centers from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Mizuho increased their price objective on Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.08.

Regency Centers Stock Down 0.6 %

REG opened at $73.61 on Tuesday. Regency Centers Co. has a 12 month low of $56.51 and a 12 month high of $76.53. The business has a 50-day moving average of $72.82 and a two-hundred day moving average of $72.28. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $13.36 billion, a price-to-earnings ratio of 34.72, a price-to-earnings-growth ratio of 3.77 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.89%. On average, research analysts expect that Regency Centers Co. will post 4.49 earnings per share for the current year.

Regency Centers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Wednesday, March 12th. Regency Centers’s payout ratio is currently 133.02%.

Regency Centers 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.