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. Shareholders 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 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Wednesday, March 12th.

Regency Centers has raised its dividend 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 analysts expect Regency Centers to earn $4.49 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 62.8%.

Regency Centers Price Performance

NASDAQ REG traded up $1.26 on Friday, hitting $74.21. The stock had a trading volume of 619,875 shares, compared to its average volume of 900,638. Regency Centers has a 52-week low of $56.51 and a 52-week high of $76.53. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $13.47 billion, a price-to-earnings ratio of 34.84, a price-to-earnings-growth ratio of 3.71 and a beta of 1.22. The firm has a 50-day moving average of $72.87 and a 200-day moving average of $72.07.

Regency Centers (NASDAQ:REG) last released its quarterly earnings data on Thursday, February 6th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.61. Regency Centers had a net margin of 27.78% and a return on equity of 5.85%. Equities analysts expect that Regency Centers will post 4.28 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on REG shares. KeyCorp started coverage on Regency Centers in a research note on Friday, October 25th. They set an “overweight” rating and a $80.00 target price on the stock. Evercore ISI dropped their target price on Regency Centers from $78.00 to $77.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. Robert W. Baird boosted their price objective on Regency Centers from $71.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. BTIG Research lifted their target price on Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Mizuho boosted their price target on Regency Centers from $78.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.