Regency Centers Corporation (REG) Stake Increased by Dai Ichi Life Insurance Company Ltd
Dai Ichi Life Insurance Company Ltd lifted its holdings in Regency Centers Corporation (NYSE:REG) by 9.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,363 shares of the real estate investment trust’s stock after buying an additional 645 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Regency Centers Corporation were worth $461,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. acquired a new stake in shares of Regency Centers Corporation in the first quarter worth $176,000. Global X Management Co. LLC acquired a new stake in shares of Regency Centers Corporation in the second quarter worth $179,000. Parametrica Management Ltd acquired a new stake in shares of Regency Centers Corporation in the second quarter worth $222,000. Cleararc Capital Inc. acquired a new stake in shares of Regency Centers Corporation in the first quarter worth $236,000. Finally, Pacer Advisors Inc. boosted its position in shares of Regency Centers Corporation by 8.5% in the second quarter. Pacer Advisors Inc. now owns 3,682 shares of the real estate investment trust’s stock worth $231,000 after buying an additional 290 shares during the period. 91.52% of the stock is owned by institutional investors and hedge funds.
Regency Centers Corporation (NYSE REG) opened at 65.00 on Friday. The firm’s 50-day moving average price is $65.31 and its 200 day moving average price is $64.30. Regency Centers Corporation has a 12-month low of $58.63 and a 12-month high of $79.96. The company has a market capitalization of $11.03 billion, a price-to-earnings ratio of 107.97 and a beta of 0.56.
Regency Centers Corporation (NYSE:REG) last announced its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.03. The firm had revenue of $240.42 million during the quarter, compared to analyst estimates of $248.50 million. Regency Centers Corporation had a net margin of 13.19% and a return on equity of 2.20%. During the same period in the prior year, the business earned $0.81 EPS. On average, equities research analysts expect that Regency Centers Corporation will post $0.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 30th. Investors of record on Wednesday, August 16th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Monday, August 14th. Regency Centers Corporation’s payout ratio is presently 353.34%.
Several analysts have recently commented on the company. Jefferies Group LLC cut Regency Centers Corporation from a “buy” rating to a “hold” rating and decreased their target price for the stock from $74.00 to $67.00 in a research report on Friday. Zacks Investment Research raised Regency Centers Corporation from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a research report on Thursday. Boenning Scattergood cut Regency Centers Corporation from a “neutral” rating to an “under perform” rating and set a $62.50 price objective for the company. in a research report on Tuesday, September 12th. BMO Capital Markets started coverage on Regency Centers Corporation in a research report on Monday, September 11th. They set a “market perform” rating and a $65.00 price objective for the company. Finally, Argus reduced their price objective on Regency Centers Corporation from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Regency Centers Corporation currently has a consensus rating of “Buy” and an average price target of $71.54.
In related news, Vice Chairman Chaim Katzman sold 1,055,758 shares of the company’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $64.30, for a total value of $67,885,239.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Lou Fiala sold 7,775 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $65.74, for a total transaction of $511,128.50. Following the completion of the transaction, the director now directly owns 17,145 shares of the company’s stock, valued at $1,127,112.30. The disclosure for this sale can be found here. 12.66% of the stock is currently owned by corporate insiders.
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About Regency Centers Corporation
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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