Regency Centers Corporation $REG Stock: Sumitomo Mitsui Trust Group Inc. Lowers Stake

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of Regency Centers Corporation (NASDAQ:REG) by 2.0% during the third quarter, Holdings Channel reports. The institutional investor owned 695,453 shares of the company’s stock after selling 14,422 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Regency Centers were worth $49,989,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Regency Centers during the 2nd quarter worth $1,597,868,000. Principal Financial Group Inc. boosted its holdings in Regency Centers by 10.3% in the 1st quarter. Principal Financial Group Inc. now owns 10,004,796 shares of the company’s stock valued at $756,967,000 after purchasing an additional 931,272 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Regency Centers by 2.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,667,906 shares of the company’s stock valued at $201,849,000 after buying an additional 67,213 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Regency Centers in the 2nd quarter valued at approximately $170,282,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Regency Centers by 18,982.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,953,088 shares of the company’s stock worth $155,739,000 after purchasing an additional 1,942,853 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on REG shares. JPMorgan Chase & Co. raised Regency Centers from a “neutral” rating to an “overweight” rating and set a $83.00 price objective for the company in a report on Thursday, September 24th. Morgan Stanley cut their price target on Regency Centers from $88.00 to $87.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Barclays dropped their target price on shares of Regency Centers from $92.00 to $85.00 and set an “overweight” rating on the stock in a report on Monday, September 28th. Argus set a $85.00 price target on Regency Centers in a research note on Monday, August 10th. Finally, UBS Group dropped their target price on shares of Regency Centers from $85.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $83.00.

Regency Centers Price Performance

Shares of REG stock opened at $76.84 on Thursday. The company has a market cap of $14.07 billion, a P/E ratio of 26.05, a P/E/G ratio of 4.51 and a beta of 0.80. The business has a fifty day simple moving average of $73.68 and a 200 day simple moving average of $76.67. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.71. Regency Centers Corporation has a twelve month low of $66.86 and a twelve month high of $83.66.

Regency Centers Profile

Regency Centers Corporation is a real estate investment trust that owns, operates, develops and redevelops grocery-anchored shopping centers in the United States. Its properties are designed to serve everyday consumer needs and typically include supermarkets, restaurants, service providers, retailers and other commercial tenants.

The company focuses primarily on high-quality shopping centers located in established and growing communities, often in affluent or densely populated trade areas.