Regency Centers Co. (NASDAQ:REG) to Issue $0.71 Quarterly Dividend

Regency Centers Co. (NASDAQ:REG - Get Free Report) declared a quarterly dividend on Tuesday, February 4th,Wall Street Journal reports. Stockholders of record on Wednesday, March 12th will be paid a dividend of 0.705 per share on Wednesday, April 2nd. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend is Wednesday, March 12th.

Regency Centers has increased its dividend payment by an average of 4.1% annually over the last three years. Regency Centers has a payout ratio of 127.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Trading Up 1.1 %

Shares of REG stock traded up $0.81 during mid-day trading on Tuesday, reaching $74.42. The company's stock had a trading volume of 950,985 shares, compared to its average volume of 930,229. The company's 50 day simple moving average is $72.82 and its 200-day simple moving average is $72.28. Regency Centers has a 12-month low of $56.51 and a 12-month high of $76.53. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $13.51 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 3.77 and a beta of 1.21.

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

Analyst Ratings Changes

A number of brokerages have recently commented on REG. KeyCorp initiated coverage on shares of Regency Centers in a research note on Friday, October 25th. They issued an "overweight" rating and a $80.00 target price on the stock. Mizuho lifted their price target on shares of Regency Centers from $78.00 to $80.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 8th. BTIG Research lifted their price target on shares of Regency Centers from $72.00 to $79.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Wells Fargo & Company dropped their price target on shares of Regency Centers from $81.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Regency Centers from $77.00 to $80.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.