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JACKSONVILLE, Fla.—Martin E. Stein Jr., Executive Chairman of Regency Centers Corp (NASDAQ:REG), has sold 50,000 shares of the company’s common stock. The shares were sold at a weighted average price of $73.48, totaling approximately $3.67 million. The transaction took place on March 11, 2025. The sale comes as the $13.2 billion market cap company trades near its 52-week high, with InvestingPro analysis indicating the stock is currently overvalued.
Following this sale, Stein continues to hold significant indirect ownership of Regency Centers shares through various entities. These include holdings by a corporation controlled by his family, two general partnerships where he is a general partner, and a trust for his benefit. The company maintains a strong financial profile, earning a "GOOD" overall health score from InvestingPro.
The sale was part of a series of transactions, with shares sold at prices ranging from $72.59 to $74.73. Stein remains a key figure at Regency Centers, maintaining a substantial stake in the company. The REIT boasts an impressive 32-year streak of consistent dividend payments, with a current yield of 3.9%. According to InvestingPro, which offers 8 additional key insights about REG, analysts maintain a positive outlook with upward earnings revisions for the upcoming period.
In other recent news, Regency Centers Corp. reported its fourth-quarter 2024 earnings with a slight miss on earnings per share (EPS), posting $0.47 compared to the forecasted $0.48. Revenue also fell short of expectations, coming in at $359.1 million against a projected $366.64 million. Despite these misses, the company achieved a 5% growth in core operating earnings for the year, demonstrating robust operational performance. S&P Global Ratings upgraded Regency Centers to ’A-’ from ’BBB+’, citing strong operating performance and financial metrics, supported by a high-quality, grocery-anchored portfolio. KeyBanc Capital Markets maintained an Overweight rating on Regency Centers, with a price target of $84.00, highlighting the company’s resilience amidst increased bankruptcy-related activities. Regency Centers continues to focus on development and redevelopment projects, with $497 million of projects in process as of December 31, 2024. The company plans to spend approximately $250 million on these projects in 2025, aiming for net external growth of around $60 million. Looking ahead, Regency Centers anticipates a same-property net operating income (NOI) growth of 3.2% to 4% for 2025, in line with its guidance.
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