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Gazit-Globe lowers Regency Centers stake in $101M share sale

Gazit-Globe Ltd. sold 1.76 million shares, or 1.03% of its stake, in Regency Centers Corp. for $101 million, Reuters reported Feb. 18.

The Israeli company now holds a 9.32% stake in the U.S.-based shopping center-focused real estate investment trust.

The sale of Regency shares was made through a Gazit-Globe unit for $57.55 per share. A company unit had entered a pre-arranged trading plan in December 2017 to sell up to 2.5 million Regency shares in specified periods between January and April.

Gazit-Globe sold 740,743 Regency shares at $64.45 apiece in January for a total of $47.7 million, Reuters reported. It had sold 1.06 million Regency shares for $68 million in September 2017 and 2.8 million shares for $192 million in March 2017.