Caprock Group LLC Cuts Stake in Regency Centers Co. (NASDAQ:REG)

Caprock Group LLC cut its holdings in Regency Centers Co. (NASDAQ:REG) by 26.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,282 shares of the company’s stock after selling 1,175 shares during the period. Caprock Group LLC’s holdings in Regency Centers were worth $241,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Regency Centers by 4.2% in the second quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock worth $555,009,000 after purchasing an additional 357,091 shares during the last quarter. Boston Partners increased its holdings in shares of Regency Centers by 4.1% in the 1st quarter. Boston Partners now owns 4,192,951 shares of the company’s stock worth $253,902,000 after buying an additional 166,354 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Regency Centers by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,641,921 shares of the company’s stock valued at $164,327,000 after buying an additional 117,368 shares in the last quarter. PGGM Investments lifted its holdings in shares of Regency Centers by 2,586.9% in the 2nd quarter. PGGM Investments now owns 1,670,607 shares of the company’s stock valued at $103,912,000 after acquiring an additional 1,608,431 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Regency Centers by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,504,945 shares of the company’s stock valued at $93,608,000 after acquiring an additional 23,062 shares during the last quarter. 96.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on REG. Compass Point boosted their price objective on Regency Centers from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. increased their price target on Regency Centers from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Raymond James lifted their price objective on shares of Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Robert W. Baird boosted their price objective on shares of Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company raised their target price on shares of Regency Centers from $69.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Regency Centers presently has an average rating of “Buy” and a consensus price target of $76.92.

Regency Centers Price Performance

Regency Centers stock opened at $74.24 on Monday. The stock has a market cap of $13.47 billion, a price-to-earnings ratio of 34.85, a price-to-earnings-growth ratio of 4.10 and a beta of 1.21. The firm has a 50-day moving average of $72.36 and a two-hundred day moving average of $67.82. Regency Centers Co. has a 1 year low of $56.51 and a 1 year high of $75.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.95.

Regency Centers (NASDAQ:REG) last issued its earnings results on Monday, October 28th. The company reported $0.54 earnings per share (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 earned $1.02 earnings per share. On average, research analysts forecast that Regency Centers Co. will post 4.28 earnings per share for the current year.

Regency Centers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 16th will be given a $0.705 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.80%. This is an increase from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s payout ratio is presently 132.39%.

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.