Intact Investment Management Inc. Decreases Position in Regency Centers Co. (NASDAQ:REG)

Intact Investment Management Inc. trimmed its holdings in shares of Regency Centers Co. (NASDAQ:REG) by 90.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,200 shares of the company’s stock after selling 78,450 shares during the quarter. Intact Investment Management Inc.’s holdings in Regency Centers were worth $606,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC raised its holdings in shares of Regency Centers by 104.1% in the fourth quarter. Sanctuary Advisors LLC now owns 20,038 shares of the company’s stock worth $1,442,000 after buying an additional 10,221 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Regency Centers by 196.1% during the fourth quarter. Pacer Advisors Inc. now owns 36,245 shares of the company’s stock valued at $2,680,000 after buying an additional 24,003 shares during the last quarter. Trustmark National Bank Trust Department purchased a new stake in shares of Regency Centers during the third quarter valued at $719,000. HighTower Advisors LLC grew its holdings in shares of Regency Centers by 47.3% during the third quarter. HighTower Advisors LLC now owns 29,342 shares of the company’s stock valued at $2,121,000 after buying an additional 9,424 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of Regency Centers by 9.3% during the third quarter. Royal London Asset Management Ltd. now owns 105,433 shares of the company’s stock valued at $7,615,000 after buying an additional 8,959 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

REG has been the topic of a number of research analyst reports. Mizuho boosted their price objective on shares of Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, January 8th. Evercore ISI dropped their price objective on shares of 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 lowered their price target on shares of Regency Centers from $81.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, BTIG Research lifted their price objective on Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Regency Centers has an average rating of “Moderate Buy” and an average target price of $78.08.

Regency Centers Stock Up 1.0 %

Shares of REG opened at $71.07 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. Regency Centers Co. has a 12 month low of $56.51 and a 12 month high of $78.18. The stock’s 50 day moving average is $72.81 and its two-hundred day moving average is $73.02. The firm has a market cap of $12.89 billion, a P/E ratio of 33.52, a PEG ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.09 EPS for the quarter, beating 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%. Analysts predict that Regency Centers Co. will post 4.54 earnings per share for the current fiscal year.

Regency Centers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.705 dividend. This represents a $2.82 annualized dividend and a yield of 3.97%. The ex-dividend date is Wednesday, March 12th. Regency Centers’s payout ratio is currently 133.02%.

Insider Buying and Selling at Regency Centers

In other news, CEO Lisa Palmer sold 25,000 shares of Regency Centers stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $73.26, for a total value of $1,831,500.00. Following the sale, the chief executive officer now directly owns 139,923 shares of the company’s stock, valued at $10,250,758.98. The trade was a 15.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael J. Mas sold 20,000 shares of Regency Centers 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 completion of the sale, the chief financial officer now directly owns 54,020 shares in the company, valued at $3,975,872. This represents a 27.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,000 shares of company stock valued at $6,977,500. Company insiders own 1.00% of the company’s stock.

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.