Pictet Asset Management Holding SA Reduces Stake in Regency Centers Co. (NASDAQ:REG)

Pictet Asset Management Holding SA decreased its position in Regency Centers Co. (NASDAQ:REG - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141,589 shares of the company's stock after selling 5,267 shares during the quarter. Pictet Asset Management Holding SA owned 0.08% of Regency Centers worth $10,468,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Regency Centers during the 4th quarter worth about $1,262,425,000. Prudential Financial Inc. increased its stake in 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 purchasing an additional 734,210 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Regency Centers by 4.1% during the third quarter. JPMorgan Chase & Co. now owns 11,090,347 shares of the company's stock worth $801,056,000 after purchasing an additional 435,932 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Regency Centers by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 9,182,664 shares of the company's stock worth $678,873,000 after buying an additional 366,427 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings 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 valued at $26,118,000 after buying an additional 316,496 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Mizuho lifted 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. Evercore ISI cut their target price on Regency Centers from $78.00 to $77.00 and set an "in-line" rating on the stock in a research report on Tuesday, December 24th. Finally, Wells Fargo & Company decreased their target price on Regency Centers from $80.00 to $79.00 and set an "overweight" rating for the company in a research report on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $78.00.

Insider Buying and Selling at Regency Centers

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the firm'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 sale, the chairman now owns 110,263 shares of the company's stock, valued at approximately $8,102,125.24. This trade represents a 31.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael J. Mas sold 20,000 shares of the company'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 transaction, the chief financial officer now directly owns 54,020 shares in the company, valued at approximately $3,975,872. This trade represents a 27.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,000 shares of company stock valued at $6,977,500. 1.00% of the stock is owned by corporate insiders.

Regency Centers Stock Performance

Shares of NASDAQ:REG traded down $3.32 during trading on Friday, reaching $68.77. The company had a trading volume of 2,643,699 shares, compared to its average volume of 1,061,672. 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 debt-to-equity ratio of 0.66, a current ratio of 0.85 and a quick ratio of 0.95. The stock's fifty day moving average price is $73.29 and its 200 day moving average price is $72.95. The firm has a market capitalization of $12.48 billion, a price-to-earnings ratio of 32.44, a price-to-earnings-growth ratio of 3.75 and a beta of 1.03.

Regency Centers (NASDAQ:REG - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.09 earnings per share (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%. As a group, equities research analysts predict that Regency Centers Co. will post 4.54 EPS for the current year.

Regency Centers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.705 dividend. This represents a $2.82 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Wednesday, March 12th. Regency Centers's dividend payout ratio is presently 133.02%.

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.