Vanguard Group Increases Position in Regency Centers (REG)

Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 26.75MM shares of Regency Centers Corp (REG). This represents 15.63% of the company.

In their previous filing dated February 10, 2022 they reported 26.13MM shares and 15.26% of the company, an increase in shares of 2.40% and an increase in total ownership of 0.37% (calculated as current - previous percent ownership).

Analyst Price Forecast Suggests 8.85% Upside

As of February 7, 2023, the average one-year price target for Regency Centers is $70.86. The forecasts range from a low of $61.61 to a high of $80.85. The average price target represents an increase of 8.85% from its latest reported closing price of $65.10.

The projected annual revenue for Regency Centers is $1,220MM, a decrease of 3.61%. The projected annual EPS is $2.06, a decrease of 22.56%.

What is the Fund Sentiment?

There are 1030 funds or institutions reporting positions in Regency Centers. This is an increase of 24 owner(s) or 2.39% in the last quarter. Average portfolio weight of all funds dedicated to REG is 0.24%, an increase of 2.99%. Total shares owned by institutions increased in the last three months by 1.00% to 191,106K shares. The put/call ratio of REG is 0.62, indicating a bullish outlook.

What are large shareholders doing?

REG / Regency Centers Corp Ownership

Norges Bank holds 16,179K shares representing 9.45% ownership of the company. No change in the last quarter.

Capital World Investors holds 8,354K shares representing 4.88% ownership of the company. In it's prior filing, the firm reported owning 19,743K shares, representing a decrease of 136.34%. The firm decreased its portfolio allocation in REG by 59.40% over the last quarter.

Principal Financial Group holds 7,154K shares representing 4.18% ownership of the company. In it's prior filing, the firm reported owning 7,416K shares, representing a decrease of 3.67%. The firm decreased its portfolio allocation in REG by 42.57% over the last quarter.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 7,034K shares representing 4.11% ownership of the company. In it's prior filing, the firm reported owning 7,073K shares, representing a decrease of 0.56%. The firm increased its portfolio allocation in REG by 12.47% over the last quarter.

Price T Rowe Associates holds 5,811K shares representing 3.40% ownership of the company. In it's prior filing, the firm reported owning 5,529K shares, representing an increase of 4.86%. The firm decreased its portfolio allocation in REG by 44.85% over the last quarter.

Regency Centers Declares $0.65 Dividend

On November 2, 2022 the company declared a regular quarterly dividend of $0.65 per share ($2.60 annualized). Shareholders of record as of December 15, 2022 received the payment on January 4, 2023. Previously, the company paid $0.62 per share.

At the current share price of $65.10 / share, the stock's dividend yield is 3.99%. Looking back five years and taking a sample every week, the average dividend yield has been 4.07%, the lowest has been 3.28%, and the highest has been 6.82%. The standard deviation of yields is 0.83 (n=236).

The current dividend yield is 0.10 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.98. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.11%, demonstrating that it has increased its dividend over time.

Regency Centers Background Information
(This description is provided by the company.)

Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent, infill suburban trade areas. Its 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. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust that is self-administered, self-managed, and an S&P 500 Index member.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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