Regency Centers Co. (NASDAQ:REG) Declares Quarterly Dividend of $0.71

Regency Centers Co. (NASDAQ:REG) declared a quarterly dividend on Friday, February 7th,Wall Street Journal reports. Stockholders of record on Wednesday, March 12th will be given a dividend of 0.705 per share on Wednesday, April 2nd. This represents a $2.82 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Wednesday, March 12th.

Regency Centers has increased its dividend payment by an average of 4.1% per year over the last three years. Regency Centers has a dividend payout ratio of 127.0% 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 $4.66 per share next year, which means the company should continue to be able to cover its $2.82 annual dividend with an expected future payout ratio of 60.5%.

Regency Centers Stock Performance

REG opened at $74.02 on Friday. The company’s 50 day moving average is $72.84 and its 200 day moving average is $72.12. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.65. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 3.77 and a beta of 1.21. Regency Centers has a 12-month low of $56.51 and a 12-month high of $76.53.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.61. Regency Centers had a return on equity of 5.89% and a net margin of 27.54%. On average, equities research analysts predict that Regency Centers will post 4.49 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on REG. KeyCorp began coverage on shares of Regency Centers in a report on Friday, October 25th. They set an “overweight” rating and a $80.00 price objective for the company. Wells Fargo & Company cut their target price on shares of Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Robert W. Baird boosted their price target on shares of Regency Centers from $71.00 to $78.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Mizuho raised their price objective on Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their target price on Regency Centers from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.08.

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.