Principal Financial Group Inc. Has $636.79 Million Position in Regency Centers Co. (NASDAQ:REG)

Principal Financial Group Inc. cut its stake in shares of Regency Centers Co. (NASDAQ:REG) by 1.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,816,237 shares of the company’s stock after selling 106,751 shares during the quarter. Principal Financial Group Inc.’s holdings in Regency Centers were worth $636,792,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norden Group LLC acquired a new position in shares of Regency Centers in the 1st quarter valued at about $321,000. Janney Montgomery Scott LLC increased its position in Regency Centers by 8.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 4,824 shares of the company’s stock valued at $292,000 after buying an additional 358 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Regency Centers in the 1st quarter valued at about $27,000. SG Americas Securities LLC increased its position in Regency Centers by 750.6% in the 1st quarter. SG Americas Securities LLC now owns 200,308 shares of the company’s stock valued at $12,131,000 after buying an additional 176,760 shares in the last quarter. Finally, Swiss National Bank increased its position in Regency Centers by 1.4% in the 1st quarter. Swiss National Bank now owns 525,128 shares of the company’s stock valued at $31,802,000 after buying an additional 7,000 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

REG has been the subject of a number of research analyst reports. Mizuho boosted their target price on Regency Centers from $67.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. JPMorgan Chase & Co. boosted their target price on Regency Centers from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday. Raymond James boosted their price objective on Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Evercore ISI raised Regency Centers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, KeyCorp assumed coverage on Regency Centers in a report on Friday, October 25th. They set an “overweight” rating and a $80.00 price objective for the company. Two research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $76.92.

Insider Activity at Regency Centers

In other Regency Centers news, VP Michael R. Herman sold 1,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $69.57, for a total transaction of $69,570.00. Following the sale, the vice president now owns 13,010 shares in the company, valued at $905,105.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.00% of the stock is owned by company insiders.

Regency Centers Price Performance

Regency Centers stock opened at $72.82 on Thursday. Regency Centers Co. has a 12 month low of $56.51 and a 12 month high of $75.26. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. The business’s 50 day simple moving average is $72.20 and its 200 day simple moving average is $66.48. The company has a market cap of $13.22 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 4.50 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.50). Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. The firm had revenue of $360.27 million during the quarter, compared to analysts’ expectations of $355.17 million. During the same quarter in the previous year, the company posted $1.02 EPS. Sell-side analysts forecast that Regency Centers Co. will post 4.24 EPS for the current year.

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.