Regency Centers Corporation (REG) to Issue Quarterly Dividend of $0.53
Regency Centers Corporation (NYSE:REG) declared a quarterly dividend on Wednesday, November 1st, RTT News reports. Investors of record on Wednesday, November 15th will be given a dividend of 0.53 per share on Wednesday, November 29th. This represents a $2.12 annualized dividend and a yield of 3.19%. The ex-dividend date is Tuesday, November 14th.
Regency Centers Corporation has increased its dividend payment by an average of 2.6% annually over the last three years and has increased its dividend every year for the last 3 years. Regency Centers Corporation has a payout ratio of 57.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Regency Centers Corporation to earn $3.82 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 55.5%.
Regency Centers Corporation (NYSE REG) opened at C$66.45 on Monday. Regency Centers Corporation has a 52-week low of C$58.63 and a 52-week high of C$72.05. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market cap of $11,303.84, a PE ratio of 18.25, a P/E/G ratio of 2.22 and a beta of 0.55.
Regency Centers Corporation (NYSE:REG) last posted its quarterly earnings results on Wednesday, November 1st. The company reported C$0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.91 by C$0.04. Regency Centers Corporation had a net margin of 17.59% and a return on equity of 2.82%. The firm had revenue of C$262.14 million during the quarter, compared to analyst estimates of C$254.04 million. During the same quarter in the prior year, the business posted $0.81 earnings per share. analysts expect that Regency Centers Corporation will post 3.68 EPS for the current fiscal year.
Several research analysts recently issued reports on REG shares. Zacks Investment Research raised shares of Regency Centers Corporation from a “hold” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Thursday, September 14th. Barclays PLC dropped their price target on shares of Regency Centers Corporation from $73.00 to $71.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 18th. BMO Capital Markets started coverage on shares of Regency Centers Corporation in a research report on Monday, September 11th. They issued a “market perform” rating and a $65.00 price target for the company. Jefferies Group LLC lowered shares of Regency Centers Corporation from a “buy” rating to a “hold” rating and dropped their price target for the stock from $74.00 to $67.00 in a research report on Friday, September 15th. Finally, Boenning Scattergood lowered shares of Regency Centers Corporation from a “neutral” rating to an “under perform” rating and set a $62.50 price target for the company. in a research report on Tuesday, September 12th. Seven analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of C$70.86.
In other Regency Centers Corporation news, Director Mary Lou Fiala sold 7,775 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of C$65.74, for a total transaction of C$511,128.50. Following the sale, the director now directly owns 17,145 shares of the company’s stock, valued at C$1,127,112.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Chaim Katzman sold 1,055,758 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of C$64.30, for a total transaction of C$67,885,239.40. The disclosure for this sale can be found here. Insiders have sold 1,068,033 shares of company stock worth $68,404,918 over the last ninety days. Insiders own 12.66% of the company’s stock.
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About Regency Centers Corporation
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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