DnB Asset Management AS Sells 3,703 Shares of Regency Centers Co. (NASDAQ:REG)

DnB Asset Management AS lessened its position in Regency Centers Co. (NASDAQ:REG - Free Report) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,134 shares of the company's stock after selling 3,703 shares during the quarter. DnB Asset Management AS's holdings in Regency Centers were worth $2,154,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Regency Centers in the 4th quarter worth $1,262,425,000. Prudential Financial Inc. lifted its stake in shares of Regency Centers by 51.7% in the fourth quarter. Prudential Financial Inc. now owns 2,155,589 shares of the company's stock valued at $159,363,000 after buying an additional 734,210 shares during the period. JPMorgan Chase & Co. increased its stake in Regency Centers by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 11,090,347 shares of the company's stock valued at $801,056,000 after acquiring an additional 435,932 shares during the period. Principal Financial Group Inc. raised its holdings in Regency Centers by 4.2% in the 4th quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company's stock valued at $678,873,000 after acquiring an additional 366,427 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in shares of Regency Centers by 701.7% in the 3rd quarter. National Bank of Canada FI now owns 361,597 shares of the company's stock worth $26,118,000 after acquiring an additional 316,496 shares during the period. Institutional investors and hedge funds own 96.07% of the company's stock.

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Insider Transactions at Regency Centers

In related news, CEO Lisa Palmer sold 25,000 shares of Regency Centers stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the completion of the sale, the chief executive officer now directly owns 139,923 shares of the company's stock, valued at $10,250,758.98. The trade was a 15.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael J. Mas sold 20,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 54,020 shares in the company, valued at $3,975,872. The trade was a 27.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 95,000 shares of company stock worth $6,977,500 in the last quarter. 1.00% of the stock is owned by company insiders.

Regency Centers Price Performance

Shares of REG traded down $2.51 during mid-day trading on Friday, hitting $69.58. 1,498,089 shares of the company traded hands, compared to its average volume of 1,057,265. 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 business has a 50-day moving average of $73.29 and a 200 day moving average of $72.95. Regency Centers Co. has a one year low of $56.51 and a one year high of $78.18. The stock has a market capitalization of $12.63 billion, a price-to-earnings ratio of 32.84, a PEG ratio of 3.75 and a beta of 1.03.

Regency Centers (NASDAQ:REG - Get Free Report) last released 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 return on equity of 5.91% and a net margin of 27.54%. As a group, equities analysts expect that Regency Centers Co. will post 4.54 earnings per share for the current fiscal year.

Regency Centers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a $0.705 dividend. This represents a $2.82 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Wednesday, March 12th. Regency Centers's dividend payout ratio (DPR) is presently 133.02%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Mizuho raised their price target on shares of Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 8th. Wells Fargo & Company cut their price objective on Regency Centers from $80.00 to $79.00 and set an "overweight" rating for the company in a report on Wednesday, March 26th. Finally, Evercore ISI dropped 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. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Regency Centers currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.00.

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.