Heritage Investment Group Inc. Has $252,000 Position in Regency Centers Co. (NASDAQ:REG)

Heritage Investment Group Inc. trimmed its position in Regency Centers Co. (NASDAQ:REG) by 50.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,483 shares of the company’s stock after selling 3,483 shares during the quarter. Heritage Investment Group Inc.’s holdings in Regency Centers were worth $252,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in REG. Janney Montgomery Scott LLC grew its holdings in shares of Regency Centers by 8.0% during the first quarter. Janney Montgomery Scott LLC now owns 4,824 shares of the company’s stock worth $292,000 after purchasing an additional 358 shares during the last quarter. US Bancorp DE increased its position in Regency Centers by 13.4% in the 1st quarter. US Bancorp DE now owns 7,713 shares of the company’s stock valued at $467,000 after acquiring an additional 913 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Regency Centers by 15.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 16,316 shares of the company’s stock valued at $988,000 after acquiring an additional 2,156 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Regency Centers by 1.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 187,067 shares of the company’s stock worth $11,445,000 after purchasing an additional 2,660 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Regency Centers by 18.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 312,155 shares of the company’s stock worth $18,904,000 after purchasing an additional 49,188 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Regency Centers Price Performance

Shares of REG remained flat at $73.66 during mid-day trading on Friday. The stock had a trading volume of 3,835,304 shares, compared to its average volume of 1,107,864. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.65. Regency Centers Co. has a 52-week low of $56.51 and a 52-week high of $75.26. The stock has a market cap of $13.37 billion, a price-to-earnings ratio of 34.58, a P/E/G ratio of 4.55 and a beta of 1.21. The business has a 50-day simple moving average of $72.39 and a 200-day simple moving average of $67.18.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.50). Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. The business had revenue of $360.27 million for the quarter, compared to analysts’ expectations of $355.17 million. During the same period last year, the business earned $1.02 earnings per share. Sell-side analysts anticipate that Regency Centers Co. will post 4.28 earnings per share for the current fiscal year.

Regency Centers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 16th will be issued a dividend of $0.705 per share. This is a boost from Regency Centers’s previous quarterly dividend of $0.67. This represents a $2.82 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Monday, December 16th. Regency Centers’s dividend payout ratio is currently 132.39%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on Regency Centers from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Mizuho increased their target price on shares of Regency Centers from $67.00 to $73.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Truist Financial raised their price target on shares of Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Wells Fargo & Company upped their price objective on shares of Regency Centers from $69.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, August 28th. Finally, Evercore ISI raised shares of Regency Centers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $76.92.

Regency Centers Company 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.