RBO & Co. LLC Cuts Holdings in Regency Centers Co. (NASDAQ:REG)

RBO & Co. LLC decreased its position in Regency Centers Co. (NASDAQ:REG) by 0.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 192,108 shares of the company’s stock after selling 144 shares during the period. Regency Centers accounts for 2.2% of RBO & Co. LLC’s holdings, making the stock its 25th biggest position. RBO & Co. LLC’s holdings in Regency Centers were worth $13,876,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its position in Regency Centers by 4.2% in the second quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock worth $555,009,000 after acquiring an additional 357,091 shares during the period. Boston Partners grew its holdings in Regency Centers by 4.1% during the first quarter. Boston Partners now owns 4,192,951 shares of the company’s stock valued at $253,902,000 after purchasing an additional 166,354 shares during the period. Dimensional Fund Advisors LP increased its position in Regency Centers by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,641,921 shares of the company’s stock worth $164,327,000 after buying an additional 117,368 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Regency Centers by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,312,535 shares of the company’s stock valued at $167,034,000 after buying an additional 71,278 shares during the period. Finally, PGGM Investments lifted its position in shares of Regency Centers by 2,586.9% during the 2nd quarter. PGGM Investments now owns 1,670,607 shares of the company’s stock valued at $103,912,000 after buying an additional 1,608,431 shares during the last quarter. Institutional investors own 96.07% of the company’s stock.

Regency Centers Stock Up 1.3 %

Shares of NASDAQ REG opened at $75.00 on Wednesday. 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 business has a 50-day moving average of $72.37 and a 200-day moving average of $68.04. The firm has a market capitalization of $13.61 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 4.08 and a beta of 1.21. Regency Centers Co. has a 12 month low of $56.51 and a 12 month high of $75.26.

Regency Centers (NASDAQ:REG) last released its quarterly earnings results on Monday, October 28th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.50). The company had revenue of $360.27 million during the quarter, compared to analysts’ expectations of $355.17 million. Regency Centers had a return on equity of 5.85% and a net margin of 27.78%. During the same period in the prior year, the firm earned $1.02 EPS. Sell-side analysts expect that Regency Centers Co. will post 4.28 earnings per share for the current fiscal year.

Regency Centers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 16th will be given a dividend of $0.705 per share. This is an increase from Regency Centers’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.82 dividend on an annualized basis and a yield of 3.76%. Regency Centers’s dividend payout ratio (DPR) is presently 125.82%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on REG shares. KeyCorp started coverage on Regency Centers in a report on Friday, October 25th. They issued an “overweight” rating and a $80.00 price objective for the company. Truist Financial lifted their target price on shares of Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Wells Fargo & Company upped their price target on shares of Regency Centers from $69.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Mizuho lifted their price objective on shares of Regency Centers from $67.00 to $73.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Regency Centers from a “buy” rating to a “hold” rating and boosted their target price for the company from $70.00 to $75.00 in a report on Thursday, September 26th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Regency Centers has an average rating of “Buy” and an average target price of $76.92.

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.