Regency Centers Co. (NASDAQ:REG) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its position in Regency Centers Co. (NASDAQ:REG) by 21.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 18,121 shares of the company’s stock after purchasing an additional 3,188 shares during the period. PNC Financial Services Group Inc.’s holdings in Regency Centers were worth $1,309,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its stake in shares of Regency Centers by 3.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 4,744 shares of the company’s stock worth $295,000 after acquiring an additional 152 shares during the last quarter. Azzad Asset Management Inc. ADV increased its position in 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 purchasing an additional 189 shares during the last quarter. Tectonic Advisors LLC raised its stake in 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 purchasing an additional 203 shares during the period. Greenleaf Trust boosted its holdings in Regency Centers by 5.5% in the 3rd quarter. Greenleaf Trust now owns 4,563 shares of the company’s stock valued at $330,000 after purchasing an additional 238 shares during the last quarter. Finally, V Square Quantitative Management LLC grew its stake in shares of Regency Centers by 7.6% in the 2nd quarter. V Square Quantitative Management LLC now owns 3,829 shares of the company’s stock valued at $238,000 after buying an additional 269 shares during the period. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Regency Centers Stock Up 1.2 %

Shares of NASDAQ:REG opened at $75.91 on Thursday. The firm has a market capitalization of $13.78 billion, a PE ratio of 35.64, a price-to-earnings-growth ratio of 4.08 and a beta of 1.21. Regency Centers Co. has a 1 year low of $56.51 and a 1 year high of $76.14. 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 firm’s 50-day moving average is $72.42 and its two-hundred day moving average is $68.09.

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

Regency Centers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Investors of record on Monday, December 16th will be issued a $0.705 dividend. The ex-dividend date is Monday, December 16th. This is a positive change from Regency Centers’s previous quarterly dividend of $0.67. This represents a $2.82 dividend on an annualized basis and a yield of 3.71%. Regency Centers’s dividend payout ratio (DPR) is 125.82%.

Wall Street Analyst Weigh In

REG has been the topic of several analyst reports. Truist Financial lifted their price target on shares of Regency Centers from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Robert W. Baird lifted their target price on Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Raymond James upped their price target on Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft downgraded Regency Centers from a “buy” rating to a “hold” rating and raised their price objective for the stock from $70.00 to $75.00 in a research report on Thursday, September 26th. Finally, KeyCorp began coverage on shares of Regency Centers in a research report on Friday, October 25th. They issued an “overweight” rating and a $80.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $77.08.

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.