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

Regency Centers Co. (NASDAQ:REG) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Shareholders 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 annualized dividend and a yield of 4.47%.

Regency Centers has raised its dividend by an average of 3.3% annually over the last three years and has increased 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 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 Trading Up 1.5 %

Shares of NASDAQ:REG traded up $0.91 during midday trading on Thursday, hitting $60.02. 1,350,940 shares of the stock traded hands, compared to its average volume of 1,261,785. The stock has a market capitalization of $11.09 billion, a PE ratio of 29.42, a P/E/G ratio of 3.90 and a beta of 1.16. The business’s 50 day moving average is $59.80 and its two-hundred day moving average is $61.71. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.60. Regency Centers has a one year low of $54.72 and a one year high of $68.47.

Analysts Set New Price Targets

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

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.