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

Regency Centers Co. (NASDAQ:REG) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Stockholders of record on Wednesday, June 12th will be given a dividend of 0.67 per share on Wednesday, July 3rd. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.47%.

Regency Centers has increased its dividend payment by an average of 3.3% per year over the last three years and has raised its dividend annually for the last 10 consecutive years. Regency Centers has a dividend payout ratio of 124.1% 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 $4.39 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 Price Performance

Shares of REG traded up $0.91 during mid-day trading on Thursday, reaching $60.02. The company had a trading volume of 1,350,940 shares, compared to its average volume of 1,261,785. The company’s 50 day simple moving average is $59.80 and its 200 day simple moving average is $61.71. The company has a market capitalization of $11.09 billion, a price-to-earnings ratio of 29.42, a P/E/G ratio of 3.90 and a beta of 1.16. Regency Centers has a 1-year low of $54.72 and a 1-year high of $68.47. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.85 and a current ratio of 0.85.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on REG. Deutsche Bank Aktiengesellschaft began coverage on shares of Regency Centers in a report on Tuesday, January 30th. They issued a “buy” rating and a $74.00 price objective for the company. Wells Fargo & Company began coverage on shares of Regency Centers in a report on Thursday, February 1st. They issued an “overweight” rating and a $70.00 price objective for the company. Mizuho began coverage on shares of Regency Centers in a report on Thursday, April 18th. They issued a “neutral” rating and a $60.00 price objective for the company. Truist Financial raised their price objective on shares of Regency Centers from $71.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Finally, Evercore ISI upgraded shares of Regency Centers from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $69.00 to $71.00 in a report on Monday, January 22nd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Regency Centers has an average rating of “Moderate Buy” and a consensus target price of $70.73.

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.