Sumitomo Mitsui Trust Holdings Inc. Reduces Position in Regency Centers Co. (NASDAQ:REG)

Sumitomo Mitsui Trust Holdings Inc. cut its position in Regency Centers Co. (NASDAQ:REG) by 11.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 841,208 shares of the company’s stock after selling 111,984 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.46% of Regency Centers worth $52,323,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of REG. International Assets Investment Management LLC lifted its stake in shares of Regency Centers by 6,591.3% in the fourth quarter. International Assets Investment Management LLC now owns 16,862 shares of the company’s stock valued at $1,130,000 after purchasing an additional 16,610 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Regency Centers by 13.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,340 shares of the company’s stock valued at $2,100,000 after purchasing an additional 3,693 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Regency Centers during the fourth quarter worth about $255,000. Louisiana State Employees Retirement System acquired a new stake in Regency Centers in the fourth quarter worth about $663,000. Finally, Capital Analysts LLC acquired a new stake in Regency Centers in the 4th quarter valued at about $27,000. 96.07% of the stock is owned by hedge funds and other institutional investors.

Regency Centers Price Performance

Regency Centers stock traded down $0.24 during midday trading on Friday, hitting $69.77. 697,498 shares of the company’s stock were exchanged, compared to its average volume of 1,066,750. Regency Centers Co. has a 52-week low of $56.29 and a 52-week high of $71.30. The stock has a 50-day moving average price of $64.77 and a two-hundred day moving average price of $61.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $12.66 billion, a P/E ratio of 34.03, a PEG ratio of 4.39 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.48). Regency Centers had a return on equity of 5.63% and a net margin of 27.60%. The business had revenue of $357.25 million during the quarter, compared to the consensus estimate of $361.56 million. During the same quarter in the prior year, the business posted $1.03 earnings per share. On average, equities research analysts forecast that Regency Centers Co. will post 4.23 earnings per share for the current year.

Regency Centers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 12th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Thursday, September 12th. Regency Centers’s payout ratio is currently 130.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Scotiabank dropped their price objective on Regency Centers from $68.00 to $65.00 and set a “sector perform” rating on the stock in a report on Thursday, May 16th. Truist Financial lifted their price target on Regency Centers from $70.00 to $78.00 and gave the company a “buy” rating in a report on Friday. Raymond James boosted their price objective on Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday. Mizuho upgraded Regency Centers from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $61.00 to $67.00 in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. upped their price objective on Regency Centers from $71.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.33.

Insiders Place Their Bets

In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the sale, the chairman now owns 307,199 shares in the company, valued at $21,503,930. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.00% of the company’s stock.

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.