iA Global Asset Management Inc. Makes New Investment in Regency Centers Co. (NASDAQ:REG)

iA Global Asset Management Inc. bought a new position in shares of Regency Centers Co. (NASDAQ:REG) during the fourth quarter, HoldingsChannel.com reports. The firm bought 4,761 shares of the company’s stock, valued at approximately $352,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA lifted its holdings in shares of Regency Centers by 4.4% during the 3rd quarter. Glenmede Trust Co. NA now owns 3,382 shares of the company’s stock valued at $244,000 after purchasing an additional 141 shares in the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Regency Centers by 4.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 3,950 shares of the company’s stock valued at $286,000 after purchasing an additional 163 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Regency Centers by 3.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,845 shares of the company’s stock valued at $356,000 after purchasing an additional 164 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Regency Centers by 3.8% during the 4th quarter. Greenleaf Trust now owns 4,735 shares of the company’s stock valued at $350,000 after purchasing an additional 172 shares in the last quarter. Finally, Groupama Asset Managment lifted its holdings in shares of Regency Centers by 0.8% during the 3rd quarter. Groupama Asset Managment now owns 27,046 shares of the company’s stock valued at $1,954,000 after purchasing an additional 212 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on REG. Evercore ISI cut their price objective on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. Wells Fargo & Company cut their price objective on Regency Centers from $81.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. BTIG Research lifted their target price on Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Mizuho lifted their target price on Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.08.

Insider Buying and Selling

In related news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the transaction, the chairman now directly owns 110,263 shares of the company’s stock, valued at approximately $8,102,125.24. The trade was a 31.20 % decrease in their position. 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 business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 directly owns 54,020 shares in the company, valued at $3,975,872. The trade was a 27.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,000 shares of company stock valued at $6,977,500. 1.00% of the stock is owned by insiders.

Regency Centers Stock Down 0.7 %

NASDAQ:REG opened at $71.50 on Friday. The firm has a market capitalization of $12.97 billion, a price-to-earnings ratio of 33.73, a price-to-earnings-growth ratio of 3.75 and a beta of 1.23. Regency Centers Co. has a twelve month low of $56.51 and a twelve month high of $78.18. The stock’s 50 day moving average price is $72.97 and its two-hundred day moving average price is $73.00. The company has a quick ratio of 0.95, a current ratio of 0.85 and a debt-to-equity ratio of 0.66.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.09 earnings per share for the quarter, topping 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%. Equities research analysts expect that Regency Centers Co. will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.705 per share. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Wednesday, March 12th. Regency Centers’s payout ratio is presently 133.02%.

Regency Centers Company 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.