Regency Centers Co. (NASDAQ:REG) Declares Quarterly Dividend of $0.67

Regency Centers Co. (NASDAQ:REG) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Thursday, September 12th will be paid a dividend of 0.67 per share on Thursday, October 3rd. This represents a $2.68 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Thursday, September 12th.

Regency Centers has raised its dividend payment by an average of 3.3% annually over the last three years. Regency Centers has a payout ratio of 129.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Regency Centers to earn $4.39 per share next year, which means the company should continue to be able to cover its $2.68 annual dividend with an expected future payout ratio of 61.0%.

Regency Centers Stock Up 2.5 %

REG opened at $74.44 on Tuesday. The firm’s 50 day simple moving average is $68.11 and its two-hundred day simple moving average is $62.95. The company has a market capitalization of $13.75 billion, a PE ratio of 36.31, a PEG ratio of 4.53 and a beta of 1.21. Regency Centers has a 1-year low of $56.29 and a 1-year high of $74.52. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

Regency Centers (NASDAQ:REG) last announced its earnings results on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.48). Regency Centers had a return on equity of 5.63% and a net margin of 27.60%. The company had revenue of $357.25 million during the quarter, compared to the consensus estimate of $361.56 million. During the same period in the prior year, the business posted $1.03 earnings per share. As a group, equities analysts forecast that Regency Centers will post 4.23 EPS for the current year.

Insider Transactions at Regency Centers

In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the transaction, the chairman now directly owns 307,199 shares of the company’s stock, valued at $21,503,930. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the sale, the chairman now owns 307,199 shares of the company’s stock, valued at $21,503,930. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Michael R. Herman sold 1,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $69.57, for a total transaction of $69,570.00. Following the transaction, the vice president now owns 13,010 shares of the company’s stock, valued at approximately $905,105.70. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

REG has been the subject of a number of recent research reports. 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 research note on Wednesday, August 28th. Mizuho upped their price target on shares of Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Scotiabank raised their price objective on shares of Regency Centers from $65.00 to $75.00 and gave the company a “sector perform” rating in a research report on Monday, August 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 report on Friday, August 16th. 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 equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $74.55.

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.