In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Regency Centers Corp (NYSE:REG) reported that Gazit-globe Ltd. has picked up 19,695,453 of common stock as of 2017-03-06.
The acquisition brings the aggregate amount owned by Gazit-globe Ltd. to a total of 19,695,453 representing a 11.6% stake in the company.
For those not familiar with the company, Regency Centers Corporation is a real estate investment trust (REIT) and the general partner of the Regency Centers, L.P. (Operating Partnership). The Company’s operating, investing and financing activities are performed through the Operating Partnership, its subsidiaries and through its co-investment partnerships. The Company owns direct or partial interests in approximately 320 shopping centers, which are grocery-anchored community and neighborhood centers. The Company’s centers are located in over 30 states and the District of Columbia, and contain approximately 38.0 million square feet of gross leasable area (GLA). The Company’s properties are leased to tenants under operating leases. Its leases for tenant space under approximately 5,000 square feet have terms ranging from three to five years. The Company’s leases over 10,000 square feet have lease terms in excess of five years, which consists of anchor tenants.
A glance at Regency Centers Corp (NYSE:REG)’s key stats reveals a current market capitalization of 6.84 Billion based on 104.70 Million shares outstanding and a price at last close of $66.63 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-12-22, Blair picked up 1,486 at a purchase price of $66.92. This brings their total holding to 2,737 as of the date of the filing.
On the sell side, the most recent transaction saw Katzman unload 750,000 shares at a sale price of $68.45. This brings their total holding to 4,115,540.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Regency Centers Corp (NYSE:REG) as things move forward to see if its progress aligns with these transactions.
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