Chevy Chase Trust Holdings LLC Reduces Stock Holdings in Regency Centers Co. (NASDAQ:REG)

Chevy Chase Trust Holdings LLC cut its holdings in Regency Centers Co. (NASDAQ:REG) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,930 shares of the company’s stock after selling 2,200 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Regency Centers were worth $6,351,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in Regency Centers by 4.2% during the second quarter. Principal Financial Group Inc. now owns 8,922,988 shares of the company’s stock worth $555,009,000 after buying an additional 357,091 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Regency Centers by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,641,921 shares of the company’s stock valued at $164,327,000 after acquiring an additional 117,368 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Regency Centers by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,312,535 shares of the company’s stock valued at $167,034,000 after purchasing an additional 71,278 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Regency Centers by 1,138.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,075,753 shares of the company’s stock valued at $149,932,000 after purchasing an additional 1,908,153 shares in the last quarter. Finally, PGGM Investments boosted its stake in shares of Regency Centers by 2,586.9% during the 2nd quarter. PGGM Investments now owns 1,670,607 shares of the company’s stock worth $103,912,000 after purchasing an additional 1,608,431 shares during the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on REG shares. JPMorgan Chase & Co. boosted their price objective on shares of Regency Centers from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Evercore ISI upgraded Regency Centers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Scotiabank upped their target price on Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft downgraded Regency Centers from a “buy” rating to a “hold” rating and increased their target price for the stock from $70.00 to $75.00 in a research report on Thursday, September 26th. Finally, Raymond James lifted their price target on Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $77.08.

Regency Centers Stock Performance

Shares of REG stock opened at $74.31 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.65. The company has a market cap of $13.49 billion, a PE ratio of 34.89, a P/E/G ratio of 4.12 and a beta of 1.22. The company’s fifty day simple moving average is $72.71 and its 200-day simple moving average is $68.61. Regency Centers Co. has a 52 week low of $56.51 and a 52 week high of $76.53.

Regency Centers (NASDAQ:REG) last released 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 company had revenue of $360.27 million during the quarter, compared to analysts’ expectations of $355.17 million. During the same period last year, the business earned $1.02 earnings per share. As a group, equities research analysts anticipate that Regency Centers Co. will post 4.28 EPS for the current year.

Regency Centers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Monday, December 16th will be given a $0.705 dividend. This is an increase from Regency Centers’s previous quarterly dividend of $0.67. The ex-dividend date is Monday, December 16th. This represents a $2.82 annualized dividend and a yield of 3.79%. Regency Centers’s dividend payout ratio (DPR) is 132.39%.

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.