Wahed Invest LLC Buys 441 Shares of Regency Centers Co. (NASDAQ:REG)

Wahed Invest LLC boosted its stake in shares of Regency Centers Co. (NASDAQ:REG) by 11.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,461 shares of the company’s stock after purchasing an additional 441 shares during the quarter. Wahed Invest LLC’s holdings in Regency Centers were worth $322,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA boosted its position in Regency Centers by 4.4% during the third quarter. Glenmede Trust Co. NA now owns 3,382 shares of the company’s stock worth $244,000 after purchasing an additional 141 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Regency Centers by 3.3% during the second quarter. Assenagon Asset Management S.A. now owns 4,744 shares of the company’s stock worth $295,000 after buying an additional 152 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its holdings in shares of Regency Centers by 4.3% during the third quarter. Azzad Asset Management Inc. ADV now owns 4,543 shares of the company’s stock worth $328,000 after buying an additional 189 shares during the last quarter. Tectonic Advisors LLC lifted its holdings in shares of Regency Centers by 3.0% during the third quarter. Tectonic Advisors LLC now owns 6,941 shares of the company’s stock worth $501,000 after buying an additional 203 shares during the last quarter. Finally, Greenleaf Trust lifted its holdings in shares of Regency Centers by 5.5% during the third quarter. Greenleaf Trust now owns 4,563 shares of the company’s stock worth $330,000 after buying an additional 238 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Regency Centers Stock Performance

Regency Centers stock opened at $74.13 on Friday. 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 fifty day moving average price of $72.78 and a two-hundred day moving average price of $68.65. Regency Centers Co. has a 52-week low of $56.51 and a 52-week high of $76.53. The firm has a market capitalization of $13.45 billion, a P/E ratio of 34.80, a P/E/G ratio of 4.10 and a beta of 1.22.

Regency Centers (NASDAQ:REG) last announced its earnings results on Monday, October 28th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.50). The business had revenue of $360.27 million for the quarter, compared to the consensus estimate of $355.17 million. Regency Centers had a return on equity of 5.85% and a net margin of 27.78%. During the same quarter in the previous year, the company posted $1.02 EPS. As a group, analysts anticipate that Regency Centers Co. will post 4.28 EPS for the current fiscal year.

Regency Centers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 16th will be issued a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Monday, December 16th. This is a boost from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s dividend payout ratio is presently 125.82%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on REG. KeyCorp began coverage on Regency Centers in a report on Friday, October 25th. They set an “overweight” rating and a $80.00 price target for the company. Truist Financial upped their price target on Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, August 16th. BTIG Research upped their target price on Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Evercore ISI upgraded Regency Centers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft lowered Regency Centers from a “buy” rating to a “hold” rating and upped their target price for the company from $70.00 to $75.00 in a research note on Thursday, September 26th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $77.08.

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.