Allstate Corp Makes New Investment in Regency Centers Co. (NASDAQ:REG)

Allstate Corp bought a new stake in Regency Centers Co. (NASDAQ:REG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 5,246 shares of the company's stock, valued at approximately $388,000.

Several other large investors have also recently added to or reduced their stakes in REG. Cerity Partners LLC raised its position in Regency Centers by 46.2% during the third quarter. Cerity Partners LLC now owns 9,722 shares of the company's stock valued at $702,000 after acquiring an additional 3,074 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Regency Centers by 4.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,382 shares of the company's stock valued at $244,000 after acquiring an additional 141 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Regency Centers by 26.4% in the 3rd quarter. Public Sector Pension Investment Board now owns 28,421 shares of the company's stock valued at $2,053,000 after acquiring an additional 5,939 shares in the last quarter. Martingale Asset Management L P acquired a new stake in Regency Centers in the 3rd quarter worth approximately $332,000. Finally, Verition Fund Management LLC boosted its position in Regency Centers by 138.1% during the third quarter. Verition Fund Management LLC now owns 13,694 shares of the company's stock worth $989,000 after purchasing an additional 7,942 shares during the period. Institutional investors and hedge funds own 96.07% of the company's stock.

Insider Activity

In related news, CFO Michael J. Mas sold 20,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total transaction of $1,472,000.00. Following the completion of the sale, the chief financial officer now directly owns 54,020 shares of the company's stock, valued at $3,975,872. This trade represents a 27.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total value of $3,674,000.00. Following the completion of the transaction, the chairman now directly owns 110,263 shares in the company, valued at approximately $8,102,125.24. This represents a 31.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,000 shares of company stock worth $6,977,500. Insiders own 1.00% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on REG shares. Mizuho lifted their price target on shares of Regency Centers from $78.00 to $80.00 and gave the company an "outperform" rating in a research report on Wednesday, January 8th. Evercore ISI cut their target price on shares of Regency Centers from $78.00 to $77.00 and set an "in-line" rating for the company in a research report on Tuesday, December 24th. Finally, Wells Fargo & Company lowered their price target on Regency Centers from $80.00 to $79.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $78.00.

Regency Centers Stock Performance

Regency Centers stock traded down $2.65 during trading hours on Thursday, hitting $72.09. The stock had a trading volume of 1,612,610 shares, compared to its average volume of 1,055,368. The company has a 50-day moving average of $73.27 and a two-hundred day moving average of $72.95. Regency Centers Co. has a fifty-two week low of $56.51 and a fifty-two week high of $78.18. The company has a market cap of $13.09 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 0.66.

Regency Centers (NASDAQ:REG - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $1.09 EPS for the quarter, beating the consensus estimate 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, equities research analysts anticipate that Regency Centers Co. will post 4.54 EPS for the current fiscal year.

Regency Centers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.705 per share. This represents a $2.82 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Wednesday, March 12th. Regency Centers's payout ratio is 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.