Regency Centers Corp (NYSE:REG) announced a quarterly dividend on Friday, October 26th, Wall Street Journal reports. Shareholders of record on Wednesday, November 14th will be paid a dividend of 0.555 per share by the real estate investment trust on Wednesday, November 28th. This represents a $2.22 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Tuesday, November 13th.
Regency Centers has increased its dividend payment by an average of 3.8% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Regency Centers has a dividend payout ratio of 58.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Regency Centers to earn $3.93 per share next year, which means the company should continue to be able to cover its $2.22 annual dividend with an expected future payout ratio of 56.5%.
REG stock traded down $0.10 during trading on Friday, reaching $64.09. The stock had a trading volume of 1,086,984 shares, compared to its average volume of 1,203,438. Regency Centers has a one year low of $54.87 and a one year high of $70.64. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 2.35 and a beta of 0.41.
In other news, insider Nicholas Andrew Wibbenmeyer sold 2,095 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $65.81, for a total transaction of $137,871.95. Following the completion of the transaction, the insider now directly owns 2,086 shares of the company’s stock, valued at approximately $137,279.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dan M. Chandler III sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $63.35, for a total transaction of $158,375.00. Following the transaction, the vice president now directly owns 885 shares of the company’s stock, valued at $56,064.75. The disclosure for this sale can be found here. Insiders have sold a total of 8,260 shares of company stock valued at $532,456 over the last three months. Insiders own 1.10% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Morgan Stanley set a $71.00 price objective on shares of Regency Centers and gave the stock a “buy” rating in a research report on Thursday, October 11th. ValuEngine downgraded shares of Regency Centers from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Scotiabank initiated coverage on shares of Regency Centers in a research report on Tuesday, October 16th. They set a “sector perform” rating for the company. Deutsche Bank raised shares of Regency Centers from a “hold” rating to a “buy” rating and increased their target price for the company from $70.00 to $72.00 in a research report on Tuesday, August 28th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $67.00 target price on shares of Regency Centers in a research report on Wednesday, August 15th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $69.36.
About Regency Centers
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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.
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