Geode Capital Management LLC Grows Position in Regency Centers Corp (REG)

Geode Capital Management LLC increased its holdings in shares of Regency Centers Corp (NYSE:REG) by 4.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,941,830 shares of the real estate investment trust’s stock after buying an additional 79,895 shares during the period. Geode Capital Management LLC’s holdings in Regency Centers were worth $134,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in REG. ZWJ Investment Counsel Inc. bought a new position in Regency Centers in the 4th quarter worth about $201,000. Wetherby Asset Management Inc. bought a new position in Regency Centers in the 4th quarter worth about $213,000. Commerzbank Aktiengesellschaft FI bought a new position in Regency Centers in the 4th quarter worth about $227,000. Parametrica Management Ltd bought a new position in Regency Centers in the 4th quarter worth about $229,000. Finally, WINTON GROUP Ltd bought a new position in Regency Centers in the 3rd quarter worth about $219,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

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Regency Centers Corp (NYSE:REG) opened at $59.10 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.53. The stock has a market cap of $10,070.04, a P/E ratio of 15.94, a PEG ratio of 2.21 and a beta of 0.49. Regency Centers Corp has a 1-year low of $54.87 and a 1-year high of $70.64.

Regency Centers (NYSE:REG) last posted its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.42). The company had revenue of $257.95 million during the quarter, compared to the consensus estimate of $257.60 million. Regency Centers had a net margin of 18.16% and a return on equity of 2.71%. During the same quarter last year, the business earned $0.86 earnings per share. analysts anticipate that Regency Centers Corp will post 3.8 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Tuesday, February 20th were issued a $0.555 dividend. The ex-dividend date of this dividend was Friday, February 16th. This is a boost from Regency Centers’s previous quarterly dividend of $0.38. This represents a $2.22 annualized dividend and a dividend yield of 3.76%. Regency Centers’s dividend payout ratio (DPR) is 255.17%.

Regency Centers declared that its board has initiated a stock repurchase plan on Thursday, February 8th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Several research analysts have commented on REG shares. SunTrust Banks set a $67.00 target price on shares of Regency Centers and gave the stock a “buy” rating in a research report on Friday, March 2nd. BTIG Research upgraded shares of Regency Centers from a “neutral” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Monday, January 29th. TheStreet cut shares of Regency Centers from a “b-” rating to a “c” rating in a research report on Thursday, February 8th. Boenning Scattergood restated a “hold” rating on shares of Regency Centers in a research report on Monday, February 12th. Finally, Zacks Investment Research cut shares of Regency Centers from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $69.46.

In other news, Director Alan Todd Roth sold 2,500 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $69.89, for a total value of $174,725.00. Following the completion of the transaction, the director now directly owns 7,453 shares in the company, valued at $520,890.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP James D. Thompson sold 14,983 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $68.45, for a total transaction of $1,025,586.35. Following the completion of the transaction, the vice president now owns 48,976 shares of the company’s stock, valued at $3,352,407.20. The disclosure for this sale can be found here. Insiders sold 2,364,555 shares of company stock valued at $140,328,746 over the last quarter. Insiders own 12.66% of the company’s stock.

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Regency Centers Profile

Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.

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Institutional Ownership by Quarter for Regency Centers (NYSE:REG)

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