Norges Bank Takes Position in Regency Centers Co. (NASDAQ:REG)

Norges Bank acquired a new position in shares of Regency Centers Co. (NASDAQ:REG) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 17,075,947 shares of the company’s stock, valued at approximately $1,262,425,000. Norges Bank owned about 9.41% of Regency Centers at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Heck Capital Advisors LLC acquired a new position in shares of Regency Centers in the 4th quarter valued at about $26,000. National Pension Service bought a new position in Regency Centers during the 4th quarter worth $27,000. Catalyst Capital Advisors LLC acquired a new stake in Regency Centers in the fourth quarter worth $54,000. Venturi Wealth Management LLC lifted its stake in Regency Centers by 4,400.0% in the fourth quarter. Venturi Wealth Management LLC now owns 855 shares of the company’s stock valued at $63,000 after buying an additional 836 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in shares of Regency Centers by 84.8% in the 3rd quarter. Quest Partners LLC now owns 937 shares of the company’s stock worth $68,000 after acquiring an additional 430 shares during the period. Institutional investors and hedge funds own 96.07% of the company’s stock.

Insider Activity

In other news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the transaction, the chairman now owns 110,263 shares of the company’s stock, valued at approximately $8,102,125.24. This represents a 31.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Lisa Palmer sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total value of $1,831,500.00. Following the completion of the transaction, the chief executive officer now directly owns 139,923 shares in the company, valued at $10,250,758.98. The trade was a 15.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock worth $6,977,500 in the last three months. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on REG. BTIG Research raised their price target on shares of Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Wells Fargo & Company decreased their price target on Regency Centers from $80.00 to $79.00 and set an “overweight” rating for the company in a research note on Wednesday. Evercore ISI decreased their price objective on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Finally, Mizuho lifted their target price on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.00.

Regency Centers Stock Up 0.9 %

NASDAQ:REG opened at $72.83 on Thursday. The business’s fifty day moving average price is $73.07 and its 200 day moving average price is $72.99. The firm has a market capitalization of $13.21 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 3.75 and a beta of 1.23. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. Regency Centers Co. has a 1-year low of $56.51 and a 1-year high of $78.18.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.61. Regency Centers had a net margin of 27.54% and a return on equity of 5.91%. On average, sell-side analysts forecast that Regency Centers Co. will post 4.54 earnings per share for the current fiscal year.

Regency Centers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date is Wednesday, March 12th. Regency Centers’s dividend payout ratio (DPR) is presently 133.02%.

Regency Centers Company 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.