Kentucky Retirement Systems Trims Stock Holdings in Regency Centers Co. (NASDAQ:REG)

Kentucky Retirement Systems reduced its stake in Regency Centers Co. (NASDAQ:REG) by 5.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,476 shares of the company’s stock after selling 668 shares during the period. Kentucky Retirement Systems’ holdings in Regency Centers were worth $756,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of REG. Raymond James & Associates increased its stake in Regency Centers by 0.3% during the fourth quarter. Raymond James & Associates now owns 122,378 shares of the company’s stock worth $8,199,000 after purchasing an additional 420 shares during the period. Pacer Advisors Inc. increased its stake in Regency Centers by 10.8% during the fourth quarter. Pacer Advisors Inc. now owns 10,791 shares of the company’s stock worth $723,000 after purchasing an additional 1,052 shares during the period. Fifth Third Bancorp increased its stake in Regency Centers by 123.8% during the fourth quarter. Fifth Third Bancorp now owns 5,185 shares of the company’s stock worth $347,000 after purchasing an additional 2,868 shares during the period. State of Michigan Retirement System increased its stake in Regency Centers by 6.1% during the fourth quarter. State of Michigan Retirement System now owns 45,004 shares of the company’s stock worth $3,015,000 after purchasing an additional 2,600 shares during the period. Finally, Arizona State Retirement System grew its position in shares of Regency Centers by 0.7% during the fourth quarter. Arizona State Retirement System now owns 45,674 shares of the company’s stock worth $3,060,000 after buying an additional 336 shares in the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Regency Centers Stock Performance

NASDAQ REG traded up $0.76 on Monday, reaching $66.12. The stock had a trading volume of 257,238 shares, compared to its average volume of 1,139,647. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.37. Regency Centers Co. has a 12-month low of $56.29 and a 12-month high of $68.47. The business’s 50-day moving average price is $62.10 and its 200 day moving average price is $61.13. The stock has a market cap of $12.22 billion, a P/E ratio of 32.21, a price-to-earnings-growth ratio of 4.77 and a beta of 1.21.

Regency Centers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 12th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Wednesday, June 12th. Regency Centers’s dividend payout ratio is currently 130.73%.

Wall Street Analysts Forecast Growth

REG has been the subject of a number of analyst reports. Mizuho raised Regency Centers from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $61.00 to $67.00 in a research report on Tuesday, July 9th. Scotiabank lowered their price objective on Regency Centers from $68.00 to $65.00 and set a “sector perform” rating for the company in a research report on Thursday, May 16th. Finally, Truist Financial lowered their price objective on Regency Centers from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $70.64.

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.