Regency Centers Co. (REG) to Issue Quarterly Dividend of $0.67 on October 3rd

Regency Centers Co. (NASDAQ:REG) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Shareholders of record on Thursday, September 12th will be paid a dividend of 0.67 per share on Thursday, October 3rd. This represents a $2.68 annualized dividend and a yield of 3.60%. The ex-dividend date is Thursday, September 12th.

Regency Centers has raised its dividend by an average of 3.3% annually over the last three years. Regency Centers has a payout ratio of 129.5% meaning 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 Up 2.5 %

NASDAQ REG opened at $74.44 on Tuesday. The stock’s 50-day moving average price is $68.11 and its 200-day moving average price is $62.95. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. Regency Centers has a 52 week low of $56.29 and a 52 week high of $74.52. The company has a market capitalization of $13.75 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of 4.53 and a beta of 1.21.

Regency Centers (NASDAQ:REG) last issued its earnings results on Thursday, August 1st. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.48). The business had revenue of $357.25 million for the quarter, compared to the consensus estimate of $361.56 million. Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. During the same period last year, the business posted $1.03 EPS. On average, equities research analysts predict that Regency Centers will post 4.23 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Truist Financial lifted their price objective on Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Wells Fargo & Company lifted their target price on Regency Centers from $69.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, August 28th. Mizuho lifted their target price on Regency Centers from $67.00 to $73.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Evercore ISI lifted their target price on Regency Centers from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Finally, Scotiabank lifted their target price on Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $74.55.

Insiders Place Their Bets

In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the transaction, the chairman now directly owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the transaction, the chairman now directly owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Michael R. Herman sold 1,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $69.57, for a total value of $69,570.00. Following the transaction, the vice president now directly owns 13,010 shares in the company, valued at $905,105.70. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

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.