Intact Investment Management Inc. Lowers Stake in Regency Centers Co. (NASDAQ:REG)

Intact Investment Management Inc. cut its position in shares of Regency Centers Co. (NASDAQ:REG) by 56.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,100 shares of the company’s stock after selling 32,400 shares during the quarter. Intact Investment Management Inc.’s holdings in Regency Centers were worth $1,682,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC grew its holdings in Regency Centers by 11.1% in the fourth quarter. Signaturefd LLC now owns 1,625 shares of the company’s stock valued at $109,000 after purchasing an additional 162 shares during the period. Greenleaf Trust grew its holdings in Regency Centers by 4.0% in the fourth quarter. Greenleaf Trust now owns 4,429 shares of the company’s stock valued at $297,000 after purchasing an additional 170 shares during the period. PNC Financial Services Group Inc. grew its holdings in Regency Centers by 2.2% in the third quarter. PNC Financial Services Group Inc. now owns 12,636 shares of the company’s stock valued at $751,000 after purchasing an additional 271 shares during the period. Aviva PLC grew its holdings in Regency Centers by 4.5% in the third quarter. Aviva PLC now owns 6,673 shares of the company’s stock valued at $397,000 after purchasing an additional 286 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in Regency Centers by 8.2% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,167 shares of the company’s stock valued at $279,000 after purchasing an additional 316 shares during the period. 96.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on REG. Wells Fargo & Company began coverage on shares of Regency Centers in a report on Thursday, February 1st. They issued an “overweight” rating and a $70.00 target price for the company. Truist Financial boosted their price objective on shares of Regency Centers from $71.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft began coverage on shares of Regency Centers in a research note on Tuesday, January 30th. They set a “buy” rating and a $74.00 price objective for the company. Mizuho began coverage on shares of Regency Centers in a research note on Thursday, April 18th. They set a “neutral” rating and a $60.00 price objective for the company. Finally, Evercore ISI upgraded shares of Regency Centers from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $69.00 to $71.00 in a research note on Monday, January 22nd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.73.

Regency Centers Stock Performance

Shares of NASDAQ:REG traded down $0.78 on Friday, reaching $58.28. 1,398,371 shares of the company’s stock were exchanged, compared to its average volume of 1,211,169. The firm has a market capitalization of $10.77 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 3.84 and a beta of 1.16. Regency Centers Co. has a fifty-two week low of $54.72 and a fifty-two week high of $68.47. The business’s 50-day moving average is $59.90 and its two-hundred day moving average is $61.71. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.60.

Regency Centers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 13th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, March 12th. This represents a $2.68 annualized dividend and a dividend yield of 4.60%. Regency Centers’s dividend payout ratio is currently 131.37%.

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.