Regency Centers Co. (REG) To Go Ex-Dividend on December 16th

Regency Centers Co. (NASDAQ:REG) announced a quarterly dividend on Tuesday, November 5th,Zacks Dividends reports. Shareholders of record on Monday, December 16th will be given a dividend of 0.705 per share on Friday, January 3rd. This represents a $2.82 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Monday, December 16th. This is a boost from Regency Centers’s previous quarterly dividend of $0.67.

Regency Centers has raised its dividend by an average of 3.3% per year over the last three years. Regency Centers has a dividend payout ratio of 135.6% 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 research analysts expect Regency Centers to earn $4.47 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 63.1%.

Regency Centers Stock Performance

REG traded up $0.06 during trading hours on Friday, hitting $75.37. 919,515 shares of the stock were exchanged, compared to its average volume of 1,098,453. Regency Centers has a 12 month low of $56.51 and a 12 month high of $76.53. The stock has a market cap of $13.68 billion, a price-to-earnings ratio of 35.38, a price-to-earnings-growth ratio of 4.09 and a beta of 1.22. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50-day simple moving average of $73.17 and a 200-day simple moving average of $69.27.

Regency Centers (NASDAQ:REG) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.50). The company had revenue of $360.27 million for the quarter, compared to analyst estimates of $355.17 million. Regency Centers had a return on equity of 5.85% and a net margin of 27.78%. During the same quarter in the previous year, the firm posted $1.02 EPS. Analysts anticipate that Regency Centers will post 4.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Regency Centers from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Scotiabank increased their price target on shares of Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Wells Fargo & Company upped 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. Truist Financial boosted their price target on Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Evercore ISI upgraded shares of Regency Centers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Regency Centers currently has an average rating of “Buy” and a consensus target price of $77.08.

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.