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

Regency Centers Co. (NASDAQ:REG) announced a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Stockholders of record on Wednesday, March 12th will be paid a dividend of 0.705 per share on Wednesday, April 2nd. This represents a $2.82 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Wednesday, March 12th.

Regency Centers has increased its dividend payment by an average of 4.1% annually over the last three years. Regency Centers has a dividend payout ratio of 127.0% 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 research analysts expect Regency Centers to earn $4.49 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 62.8%.

Regency Centers Price Performance

Shares of NASDAQ:REG traded up $1.26 during trading on Friday, hitting $74.21. 619,875 shares of the stock were exchanged, compared to its average volume of 900,638. The company has a fifty day moving average price of $72.87 and a two-hundred day moving average price of $72.07. The company has a market cap of $13.47 billion, a PE ratio of 34.84, a P/E/G ratio of 3.71 and a beta of 1.22. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.65. Regency Centers has a 12-month low of $56.51 and a 12-month high of $76.53.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.61. Regency Centers had a return on equity of 5.85% and a net margin of 27.78%. On average, analysts forecast that Regency Centers will post 4.28 EPS for the current year.

Analyst Ratings Changes

REG has been the subject of several research reports. KeyCorp initiated coverage on Regency Centers in a research report on Friday, October 25th. They set an “overweight” rating and a $80.00 price objective for the company. Wells Fargo & Company cut their price target on Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Evercore ISI cut their price target on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. BTIG Research boosted their price target on Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Robert W. Baird boosted their price target on Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Regency Centers presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.08.

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.