Bank of Nova Scotia Sells 33,442 Shares of Regency Centers Corporation $REG

Bank of Nova Scotia trimmed its position in shares of Regency Centers Corporation (NASDAQ:REG) by 58.7% during the first quarter, Holdings Channel.com reports. The fund owned 23,546 shares of the company’s stock after selling 33,442 shares during the quarter. Bank of Nova Scotia’s holdings in Regency Centers were worth $1,781,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Havemeyer Place LP purchased a new stake in shares of Regency Centers in the fourth quarter valued at about $26,000. Brown Brothers Harriman & Co. boosted its holdings in Regency Centers by 63.1% during the third quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company’s stock worth $30,000 after purchasing an additional 157 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in Regency Centers during the second quarter worth about $31,000. Hantz Financial Services Inc. grew its position in Regency Centers by 388.9% in the 4th quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock worth $30,000 after purchasing an additional 350 shares in the last quarter. Finally, MUFG Securities EMEA plc bought a new stake in Regency Centers in the 2nd quarter worth about $34,000. Institutional investors own 96.07% of the company’s stock.

Insider Buying and Selling at Regency Centers

In other Regency Centers news, insider Terah L. Devereaux sold 1,240 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $80.14, for a total transaction of $99,373.60. Following the completion of the transaction, the insider directly owned 17,990 shares of the company’s stock, valued at approximately $1,441,718.60. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Martin E. Stein, Jr. sold 274,615 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $78.40, for a total value of $21,529,816.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 283,782 shares of company stock valued at $22,255,898. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

REG has been the subject of several analyst reports. Jefferies Financial Group upgraded shares of Regency Centers to a “strong-buy” rating in a research note on Friday, June 26th. Evercore set a $81.00 target price on Regency Centers in a research note on Tuesday, July 7th. Barclays upped their target price on Regency Centers from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Raymond James Financial reaffirmed an “outperform” rating and set a $88.00 price target on shares of Regency Centers in a research report on Monday, June 29th. Finally, Morgan Stanley lifted their price target on Regency Centers from $85.00 to $88.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $83.06.

Regency Centers Stock Performance

Shares of REG stock opened at $81.11 on Thursday. The firm has a market cap of $14.85 billion, a price-to-earnings ratio of 27.97, a P/E/G ratio of 3.43 and a beta of 0.80. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.14 and a current ratio of 2.14. Regency Centers Corporation has a 52 week low of $66.86 and a 52 week high of $83.66. The firm’s 50-day simple moving average is $79.59 and its two-hundred day simple moving average is $77.41.

Regency Centers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Friday, June 12th were paid a $0.755 dividend. The ex-dividend date was Friday, June 12th. This represents a $3.02 annualized dividend and a yield of 3.7%. Regency Centers’s dividend payout ratio is presently 104.14%.

Regency Centers Profile

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company’s portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.