KLP Kapitalforvaltning AS Invests $4.49 Million in Regency Centers Co. (NASDAQ:REG)

KLP Kapitalforvaltning AS bought a new stake in Regency Centers Co. (NASDAQ:REG) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 60,200 shares of the company’s stock, valued at approximately $4,487,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quest Partners LLC grew its holdings in shares of Regency Centers by 84.8% during the third quarter. Quest Partners LLC now owns 937 shares of the company’s stock worth $68,000 after purchasing an additional 430 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Regency Centers by 21.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 18,121 shares of the company’s stock worth $1,309,000 after buying an additional 3,188 shares during the last quarter. Cerity Partners LLC increased its position in Regency Centers by 46.2% during the third quarter. Cerity Partners LLC now owns 9,722 shares of the company’s stock worth $702,000 after buying an additional 3,074 shares during the period. Swedbank AB lifted its stake in Regency Centers by 7.3% in the third quarter. Swedbank AB now owns 191,283 shares of the company’s stock valued at $13,816,000 after buying an additional 13,043 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Regency Centers in the third quarter valued at approximately $96,000. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on REG shares. Wells Fargo & Company cut their target price on shares of Regency Centers from $81.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Evercore ISI dropped their price objective on shares of Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. BTIG Research increased their target price on shares of Regency Centers from $72.00 to $79.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Mizuho boosted their price target on Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.08.

Insider Buying and Selling

In other news, CFO Michael J. Mas sold 20,000 shares of Regency Centers stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total transaction of $1,472,000.00. Following the completion of the transaction, the chief financial officer now owns 54,020 shares of the company’s stock, valued at $3,975,872. The trade was a 27.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Martin E. Stein, Jr. sold 50,000 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the completion of the sale, the chairman now directly owns 110,263 shares in the company, valued at approximately $8,102,125.24. The trade was a 31.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,000 shares of company stock valued at $6,977,500. Corporate insiders own 1.00% of the company’s stock.

Regency Centers Stock Performance

NASDAQ REG opened at $72.18 on Wednesday. The stock has a market capitalization of $13.09 billion, a price-to-earnings ratio of 34.05, a PEG ratio of 3.75 and a beta of 1.23. The business’s 50 day moving average is $73.03 and its two-hundred day moving average is $73.00. Regency Centers Co. has a 12-month low of $56.51 and a 12-month high of $78.18. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66.

Regency Centers (NASDAQ:REG) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.61. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. Research analysts expect that Regency Centers Co. will post 4.54 EPS for the current year.

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a $0.705 dividend. This represents a $2.82 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Wednesday, March 12th. Regency Centers’s dividend payout ratio (DPR) is 133.02%.

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.