Sitrin Capital Management LLC Increases Position in Regency Centers Co. (NASDAQ:REG)

Sitrin Capital Management LLC increased its stake in shares of Regency Centers Co. (NASDAQ:REG) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 62,518 shares of the company’s stock after acquiring an additional 708 shares during the period. Regency Centers makes up about 2.4% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 24th largest position. Sitrin Capital Management LLC’s holdings in Regency Centers were worth $4,664,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in Regency Centers by 3.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,467,980 shares of the company’s stock valued at $108,528,000 after buying an additional 45,514 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Regency Centers by 100.7% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 68,360 shares of the company’s stock worth $5,054,000 after acquiring an additional 34,300 shares during the period. Legacy Capital Group California Inc. purchased a new position in Regency Centers during the fourth quarter worth about $287,000. Ieq Capital LLC lifted its position in Regency Centers by 41.2% in the fourth quarter. Ieq Capital LLC now owns 4,876 shares of the company’s stock valued at $360,000 after purchasing an additional 1,423 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in Regency Centers by 4,400.0% in the 4th quarter. Venturi Wealth Management LLC now owns 855 shares of the company’s stock valued at $63,000 after purchasing an additional 836 shares in the last quarter. Hedge funds and other institutional investors own 96.07% of the company’s stock.

Regency Centers Stock Performance

Shares of REG opened at $75.45 on Wednesday. Regency Centers Co. has a 12-month low of $56.51 and a 12-month high of $76.53. The stock has a market cap of $13.68 billion, a P/E ratio of 35.59, a PEG ratio of 3.75 and a beta of 1.22. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average of $72.59 and a two-hundred day moving average of $72.68.

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

Regency Centers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.705 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $2.82 annualized dividend and a dividend yield of 3.74%. Regency Centers’s dividend payout ratio is currently 133.02%.

Insider Activity at Regency Centers

In other Regency Centers news, CFO Michael J. Mas sold 20,000 shares of the 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 transaction, the chief financial officer now owns 54,020 shares of the company’s stock, valued at $3,975,872. This represents a 27.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Lisa Palmer sold 25,000 shares of Regency Centers stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total value of $1,831,500.00. Following the completion of the sale, the chief executive officer now directly owns 139,923 shares of the company’s stock, valued at approximately $10,250,758.98. This represents a 15.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Regency Centers from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Evercore ISI cut their price objective on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. Robert W. Baird boosted their target price on shares of Regency Centers from $71.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Wells Fargo & Company lowered their price target on shares of Regency Centers from $81.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, BTIG Research raised their price objective on shares of Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.08.

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.