Regency Centers Co. (NASDAQ:REG) Announces Dividend Increase – $0.71 Per Share

Regency Centers Co. (NASDAQ:REG) announced a quarterly dividend on Tuesday, November 5th,Zacks Dividends reports. Shareholders 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 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 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 %

REG stock traded up $0.06 on Friday, reaching $75.37. The company’s stock had a trading volume of 919,515 shares, compared to its average volume of 1,098,453. Regency Centers has a 12-month low of $56.51 and a 12-month high of $76.53. The firm has a market cap of $13.68 billion, a PE ratio of 35.38, a PEG ratio of 4.09 and a beta of 1.22. The business has a fifty day simple moving average of $73.17 and a two-hundred day simple moving average of $69.27. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.95 and a current ratio of 0.95.

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

Analysts Set New Price Targets

REG has been the topic of several research reports. Deutsche Bank Aktiengesellschaft cut shares of Regency Centers from a “buy” rating to a “hold” rating and raised their target price for the stock from $70.00 to $75.00 in a report on Thursday, September 26th. Robert W. Baird upped their price target on shares of Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Scotiabank lifted their price objective on shares of Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. BTIG Research increased their target price on Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Raymond James increased their target price on shares of Regency Centers from $67.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price 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.