Crossmark Global Holdings Inc. Raises Position in Regency Centers Co. (NASDAQ:REG)

Crossmark Global Holdings Inc. lifted its position in shares of Regency Centers Co. (NASDAQ:REG) by 7.9% during the third quarter, HoldingsChannel reports. The fund owned 9,486 shares of the company’s stock after acquiring an additional 696 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Regency Centers were worth $685,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in REG. Harvest Portfolios Group Inc. boosted its position in shares of Regency Centers by 123.1% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 24,328 shares of the company’s stock worth $1,757,000 after purchasing an additional 13,424 shares in the last quarter. James J. Burns & Company LLC acquired a new stake in shares of Regency Centers in the third quarter valued at about $216,000. QRG Capital Management Inc. boosted its holdings in Regency Centers by 11.4% during the third quarter. QRG Capital Management Inc. now owns 72,727 shares of the company’s stock worth $5,253,000 after buying an additional 7,424 shares in the last quarter. Asset Management One Co. Ltd. grew its position in Regency Centers by 3.9% during the third quarter. Asset Management One Co. Ltd. now owns 366,702 shares of the company’s stock worth $26,487,000 after buying an additional 13,863 shares during the period. Finally, Intact Investment Management Inc. increased its holdings in Regency Centers by 6.1% in the third quarter. Intact Investment Management Inc. now owns 86,650 shares of the company’s stock valued at $6,259,000 after buying an additional 5,000 shares in the last quarter. 96.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Mizuho upped their price target on Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Robert W. Baird raised their price target on Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Scotiabank boosted their price objective on shares of Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Raymond James increased their price objective on shares of Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Finally, KeyCorp initiated coverage on shares of Regency Centers in a research report on Friday, October 25th. They set an “overweight” rating and a $80.00 target price for the company. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Regency Centers presently has an average rating of “Buy” and an average target price of $76.92.

Regency Centers Price Performance

Shares of NASDAQ REG opened at $73.66 on Friday. The firm’s 50 day moving average price is $72.39 and its 200 day moving average price is $67.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $13.37 billion, a P/E ratio of 34.58, a price-to-earnings-growth ratio of 4.55 and a beta of 1.21. Regency Centers Co. has a 1 year low of $56.51 and a 1 year high of $75.26.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.50). Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. The business had revenue of $360.27 million during the quarter, compared to analysts’ expectations of $355.17 million. During the same period in the prior year, the firm earned $1.02 EPS. As a group, sell-side analysts anticipate that Regency Centers Co. will post 4.28 earnings per share for the current year.

Regency Centers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 16th will be paid a dividend of $0.705 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.82 dividend on an annualized basis and a yield of 3.83%. This is an increase from Regency Centers’s previous quarterly dividend of $0.67. Regency Centers’s dividend payout ratio (DPR) is currently 132.39%.

Regency Centers 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.