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

Regency Centers Co. (NASDAQ:REG) declared 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 increased its dividend by an average of 3.3% annually over the last three years and has raised its dividend every year for the last 10 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. 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 Performance

NASDAQ REG traded up $0.91 on Thursday, hitting $60.02. The stock had a trading volume of 1,350,940 shares, compared to its average volume of 1,261,785. Regency Centers has a one year low of $54.72 and a one year high of $68.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.60. The stock has a market cap 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. The company’s 50-day moving average is $59.80 and its two-hundred day moving average is $61.71.

Analysts Set New Price Targets

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