Connor Clark & Lunn Investment Management Ltd. Sells 75,261 Shares of Regency Centers Co. (NASDAQ:REG)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Regency Centers Co. (NASDAQ:REG) by 80.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 18,349 shares of the company’s stock after selling 75,261 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Regency Centers were worth $1,325,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in REG. Assenagon Asset Management S.A. increased its position in shares of Regency Centers by 3.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 4,744 shares of the company’s stock valued at $295,000 after purchasing an additional 152 shares during the last quarter. Azzad Asset Management Inc. ADV increased its position in Regency Centers by 4.3% during the third quarter. Azzad Asset Management Inc. ADV now owns 4,543 shares of the company’s stock valued at $328,000 after acquiring an additional 189 shares during the last quarter. Tectonic Advisors LLC raised its stake in shares of Regency Centers by 3.0% in the third quarter. Tectonic Advisors LLC now owns 6,941 shares of the company’s stock valued at $501,000 after acquiring an additional 203 shares during the period. Greenleaf Trust lifted its holdings in shares of Regency Centers by 5.5% in the 3rd quarter. Greenleaf Trust now owns 4,563 shares of the company’s stock worth $330,000 after acquiring an additional 238 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its stake in shares of Regency Centers by 7.6% during the 2nd quarter. V Square Quantitative Management LLC now owns 3,829 shares of the company’s stock worth $238,000 after purchasing an additional 269 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Regency Centers Stock Performance

Shares of REG opened at $75.00 on Wednesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.65. The firm has a market cap of $13.61 billion, a PE ratio of 35.21, a P/E/G ratio of 4.09 and a beta of 1.21. Regency Centers Co. has a 12 month low of $56.51 and a 12 month high of $75.26. The stock has a fifty day moving average price of $72.37 and a 200-day moving average price of $68.04.

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 business had revenue of $360.27 million during the quarter, compared to analyst estimates of $355.17 million. During the same period in the prior year, the business posted $1.02 EPS. Equities research analysts predict that Regency Centers Co. will post 4.28 earnings per share for the current fiscal 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. This is a positive change from Regency Centers’s previous quarterly dividend of $0.67. 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 3.76%. Regency Centers’s dividend payout ratio is presently 125.82%.

Wall Street Analysts Forecast Growth

REG has been the subject of several analyst reports. Evercore ISI raised shares of Regency Centers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Truist Financial raised their price target on Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Robert W. Baird upped their price objective on Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered Regency Centers from a “buy” rating to a “hold” rating and increased their target price for the stock from $70.00 to $75.00 in a research note on Thursday, September 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Regency Centers from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $76.92.

About Regency Centers

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.