Regency Centers Co. (NASDAQ:REG) Raises Dividend to $0.71 Per Share

Regency Centers Co. (NASDAQ:REG) declared a quarterly dividend on Tuesday, November 5th,Zacks Dividends reports. Stockholders of record on Monday, December 16th will be given a dividend of 0.705 per share on Friday, January 3rd. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Monday, December 16th. This is a positive change from Regency Centers’s previous quarterly dividend of $0.67.

Regency Centers has increased its dividend payment by an average of 3.3% per year over the last three years. Regency Centers has a payout ratio of 135.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Regency Centers to earn $4.47 per share next year, which means the company should continue to be able to cover its $2.82 annual dividend with an expected future payout ratio of 63.1%.

Regency Centers Trading Up 0.1 %

NASDAQ REG traded up $0.06 during trading hours on Friday, reaching $75.37. The company had a trading volume of 919,515 shares, compared to its average volume of 1,098,453. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $13.68 billion, a P/E ratio of 35.38, a price-to-earnings-growth ratio of 4.09 and a beta of 1.22. The stock has a 50-day moving average of $73.17 and a 200 day moving average of $69.27. Regency Centers has a 1-year low of $56.51 and a 1-year high of $76.53.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.50). Regency Centers had a return on equity of 5.85% and a net margin of 27.78%. The company had revenue of $360.27 million during the quarter, compared to analyst estimates of $355.17 million. During the same quarter in the prior year, the company posted $1.02 earnings per share. As a group, research analysts anticipate that Regency Centers will post 4.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on REG shares. Wells Fargo & Company boosted their price objective on Regency Centers from $69.00 to $79.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. Mizuho boosted their price target on shares of Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered shares of Regency Centers from a “buy” rating to a “hold” rating and raised their price objective for the company from $70.00 to $75.00 in a research note on Thursday, September 26th. Truist Financial upped their target price on shares of Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, Raymond James increased their target price on shares of Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, August 16th. Two investment analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $77.08.

Regency Centers Company 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.