Regency Centers Co. (NASDAQ:REG) Plans $0.67 Quarterly Dividend

Regency Centers Co. (NASDAQ:REG) declared a quarterly dividend on Thursday, May 2nd, RTT News reports. Investors of record on Wednesday, June 12th will be given a dividend of 0.67 per share on Wednesday, July 3rd. This represents a $2.68 annualized dividend and a yield of 4.54%.

Regency Centers has raised its dividend by an average of 3.3% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Regency Centers has a dividend payout ratio of 124.1% indicating that 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 Performance

Shares of REG opened at $59.00 on Friday. The business has a 50-day simple moving average of $59.78 and a two-hundred day simple moving average of $61.70. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.60. Regency Centers has a 52 week low of $54.72 and a 52 week high of $68.47. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 3.95 and a beta of 1.16.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on REG. Deutsche Bank Aktiengesellschaft started coverage on shares of Regency Centers in a report on Tuesday, January 30th. They issued a “buy” rating and a $74.00 target price for the company. Mizuho started coverage on shares of Regency Centers in a research report on Thursday, April 18th. They set a “neutral” rating and a $60.00 price objective on the stock. Evercore ISI raised shares of Regency Centers from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $69.00 to $71.00 in a report on Monday, January 22nd. Truist Financial raised their price target on Regency Centers from $71.00 to $72.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Finally, Wells Fargo & Company began coverage on Regency Centers in a research report on Thursday, February 1st. They issued an “overweight” rating and a $70.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Regency Centers currently has a consensus rating of “Moderate Buy” and an average price target of $70.73.

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.