Regency Centers Co. (NASDAQ:REG) Shares Sold by Legal & General Group Plc

Legal & General Group Plc lessened its holdings in shares of Regency Centers Co. (NASDAQ:REG - Free Report) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,731,596 shares of the company's stock after selling 338,854 shares during the period. Legal & General Group Plc owned about 0.95% of Regency Centers worth $128,017,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of REG. Norges Bank bought a new position in Regency Centers in the 4th quarter worth about $1,262,425,000. Invesco Ltd. grew its stake in Regency Centers by 121.2% in the fourth quarter. Invesco Ltd. now owns 5,374,450 shares of the company's stock worth $397,333,000 after purchasing an additional 2,944,854 shares in the last quarter. Prudential Financial Inc. raised its position in Regency Centers by 51.7% during the 4th quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company's stock valued at $159,363,000 after purchasing an additional 734,210 shares in the last quarter. California Public Employees Retirement System raised its position in Regency Centers by 137.2% during the 4th quarter. California Public Employees Retirement System now owns 776,521 shares of the company's stock valued at $57,408,000 after purchasing an additional 449,110 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Regency Centers by 4.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,090,347 shares of the company's stock worth $801,056,000 after buying an additional 435,932 shares during the period. Institutional investors own 96.07% of the company's stock.

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Analysts Set New Price Targets

Several brokerages have recently weighed in on REG. Wells Fargo & Company lowered their price target on shares of Regency Centers from $80.00 to $79.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Mizuho boosted their target price on shares of Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a report on Wednesday, January 8th. Finally, Evercore ISI lowered their price target on shares of Regency Centers from $78.00 to $77.00 and set an "in-line" rating on the stock in a report on Tuesday, December 24th. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $78.00.

Regency Centers Stock Performance

Shares of NASDAQ:REG traded up $0.98 on Friday, hitting $69.40. 908,517 shares of the company were exchanged, compared to its average volume of 1,068,965. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The stock's 50 day moving average price is $72.66 and its 200 day moving average price is $72.68. Regency Centers Co. has a 1-year low of $56.51 and a 1-year high of $78.18. The firm has a market capitalization of $12.60 billion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 3.75 and a beta of 1.03.

Regency Centers (NASDAQ:REG - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.61. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. Sell-side analysts predict that Regency Centers Co. will post 4.54 EPS for the current year.

Regency Centers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a $0.705 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $2.82 annualized dividend and a yield of 4.06%. Regency Centers's dividend payout ratio (DPR) is presently 133.02%.

Insiders Place Their Bets

In other news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the company's stock in a transaction dated 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 sale, the chairman now owns 110,263 shares in the company, valued at $8,102,125.24. This represents a 31.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael J. Mas sold 20,000 shares of Regency Centers stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $73.60, for a total value of $1,472,000.00. Following the transaction, the chief financial officer now owns 54,020 shares of the company's stock, valued at approximately $3,975,872. This represents a 27.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,000 shares of company stock valued at $6,977,500. 1.00% of the stock is owned by insiders.

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.