Kentucky Retirement Systems Insurance Trust Fund Reduces Stake in Regency Centers Co. (NASDAQ:REG)

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in Regency Centers Co. (NASDAQ:REG) by 8.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,836 shares of the company’s stock after selling 468 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Regency Centers were worth $349,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in REG. Quest Partners LLC lifted its stake in shares of Regency Centers by 25,250.0% in the 2nd quarter. Quest Partners LLC now owns 507 shares of the company’s stock valued at $32,000 after purchasing an additional 505 shares during the last quarter. Family Firm Inc. acquired a new position in shares of Regency Centers in the 2nd quarter valued at $44,000. Blue Trust Inc. lifted its stake in shares of Regency Centers by 582.1% in the 2nd quarter. Blue Trust Inc. now owns 839 shares of the company’s stock valued at $51,000 after purchasing an additional 716 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Regency Centers in the 1st quarter valued at $52,000. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Regency Centers by 300.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the company’s stock valued at $58,000 after purchasing an additional 600 shares during the last quarter. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

REG has been the topic of several recent analyst reports. Truist Financial upped their price target on Regency Centers from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their target price on Regency Centers from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Mizuho increased their target price on Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Raymond James increased their target price on Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Finally, Compass Point increased their target price on Regency Centers from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $76.92.

Regency Centers Price Performance

Shares of NASDAQ REG opened at $74.25 on Wednesday. The stock’s 50-day moving average is $72.36 and its two-hundred day moving average is $67.50. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.95. Regency Centers Co. has a 1-year low of $56.51 and a 1-year high of $75.26. The company has a market cap of $13.48 billion, a price-to-earnings ratio of 34.86, a price-to-earnings-growth ratio of 4.54 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.50). Regency Centers had a return on equity of 5.85% and a net margin of 27.78%. The company had revenue of $360.27 million for the quarter, compared to analysts’ expectations of $355.17 million. During the same quarter last year, the company earned $1.02 EPS. Analysts forecast that Regency Centers Co. will post 4.28 EPS for the current fiscal year.

Regency Centers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Monday, December 16th will be issued a $0.705 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.80%. This is an increase from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s dividend payout ratio is presently 132.39%.

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.