Regency Centers Co. (NASDAQ:REG) to Issue Quarterly Dividend of $0.71

Regency Centers Co. (NASDAQ:REG) announced a quarterly dividend on Tuesday, November 5th,Zacks Dividends reports. Investors 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 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Monday, December 16th. This is a positive change from Regency Centers’s previous quarterly dividend of $0.67.

Regency Centers has raised its dividend payment by an average of 3.3% per year over the last three years. Regency Centers has a dividend payout ratio of 135.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Price Performance

NASDAQ:REG traded up $0.06 during mid-day trading on Friday, hitting $75.37. 919,515 shares of the company’s stock traded hands, compared to its average volume of 1,098,453. Regency Centers has a 1 year low of $56.51 and a 1 year high of $76.53. The company has a market cap of $13.68 billion, a PE ratio of 35.38, a price-to-earnings-growth ratio of 4.09 and a beta of 1.22. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.95 and a current ratio of 0.95. The firm’s 50 day simple moving average is $73.17 and its 200 day simple moving average is $69.27.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Regency Centers from $69.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Compass Point boosted their price objective on shares of Regency Centers from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Evercore ISI upgraded shares of Regency Centers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft downgraded Regency Centers from a “buy” rating to a “hold” rating and boosted their price target for the company from $70.00 to $75.00 in a report on Thursday, September 26th. Finally, Raymond James increased their price target on Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $77.08.

About Regency Centers

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.