Heritage Investment Group Inc. Sells 3,483 Shares of Regency Centers Co. (NASDAQ:REG)

Heritage Investment Group Inc. trimmed its stake in Regency Centers Co. (NASDAQ:REG) by 50.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 3,483 shares of the company’s stock after selling 3,483 shares during the period. Heritage Investment Group Inc.’s holdings in Regency Centers were worth $252,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. PGGM Investments increased its position in shares of Regency Centers by 2,586.9% during the second quarter. PGGM Investments now owns 1,670,607 shares of the company’s stock worth $103,912,000 after acquiring an additional 1,608,431 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Regency Centers by 10.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,048,753 shares of the company’s stock worth $547,995,000 after purchasing an additional 873,062 shares during the last quarter. Vanguard Group Inc. grew its stake in Regency Centers by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 28,889,033 shares of the company’s stock worth $1,749,520,000 after buying an additional 830,572 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Regency Centers by 4.2% during the second quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock valued at $555,009,000 after acquiring an additional 357,091 shares in the last quarter. Finally, abrdn plc raised its holdings in shares of Regency Centers by 199.7% in the third quarter. abrdn plc now owns 375,059 shares of the company’s stock worth $27,006,000 after buying an additional 249,929 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial lifted their target price on Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Raymond James increased their target price on Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Scotiabank lifted their price objective on Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. JPMorgan Chase & Co. increased their target price on shares of Regency Centers from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Mizuho lifted their price objective on Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $76.92.

Regency Centers Stock Performance

REG remained flat at $73.66 during mid-day trading on Friday. The company had a trading volume of 3,835,304 shares, compared to its average volume of 1,107,864. The company has a market cap of $13.37 billion, a P/E ratio of 34.58, a PEG ratio of 4.55 and a beta of 1.21. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average price is $72.39 and its two-hundred day moving average price is $67.18. Regency Centers Co. has a 1 year low of $56.51 and a 1 year high of $75.26.

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

Regency Centers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 16th will be paid a $0.705 dividend. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Regency Centers’s previous quarterly dividend of $0.67. This represents a $2.82 dividend on an annualized basis and a yield of 3.83%. Regency Centers’s dividend payout ratio (DPR) is currently 132.39%.

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.