Regency Centers Corporation (REG) to Issue Quarterly Dividend of $0.53 on November 29th
Regency Centers Corporation (NYSE:REG) announced a quarterly dividend on Wednesday, November 1st, RTT News reports. Investors of record on Wednesday, November 15th will be paid a dividend of 0.53 per share on Wednesday, November 29th. This represents a $2.12 annualized dividend and a yield of 3.19%. The ex-dividend date is Tuesday, November 14th.
Regency Centers Corporation has raised its dividend by an average of 2.6% per year over the last three years and has increased its dividend every year for the last 3 years. Regency Centers Corporation has a dividend payout ratio of 57.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Regency Centers Corporation to earn $3.82 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 55.5%.
Shares of Regency Centers Corporation (REG) opened at C$66.45 on Monday. Regency Centers Corporation has a twelve month low of C$58.63 and a twelve month high of C$72.05. The company has a market capitalization of $11,303.84, a P/E ratio of 18.25, a P/E/G ratio of 2.22 and a beta of 0.55. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.53.
Regency Centers Corporation (NYSE:REG) last announced its earnings results on Wednesday, November 1st. The company reported C$0.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.91 by C$0.04. Regency Centers Corporation had a return on equity of 2.82% and a net margin of 17.59%. The firm had revenue of C$262.14 million for the quarter, compared to analysts’ expectations of C$254.04 million. During the same quarter in the previous year, the company earned $0.81 earnings per share. analysts expect that Regency Centers Corporation will post 3.68 EPS for the current year.
In other Regency Centers Corporation news, Director Mary Lou Fiala sold 7,775 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of C$65.74, for a total transaction of C$511,128.50. Following the sale, the director now directly owns 17,145 shares of the company’s stock, valued at approximately C$1,127,112.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman Chaim Katzman sold 1,055,758 shares of the business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of C$64.30, for a total transaction of C$67,885,239.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,068,033 shares of company stock worth $68,404,918. Company insiders own 12.66% of the company’s stock.
Several research firms have issued reports on REG. Zacks Investment Research raised Regency Centers Corporation from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Tuesday, November 7th. Boenning Scattergood reaffirmed a “hold” rating on shares of Regency Centers Corporation in a report on Monday, November 6th. Robert W. Baird reaffirmed a “buy” rating on shares of Regency Centers Corporation in a report on Friday, November 3rd. Finally, Jefferies Group LLC cut Regency Centers Corporation from a “buy” rating to a “hold” rating and dropped their price target for the company from $74.00 to $67.00 in a report on Friday, September 15th. Seven investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of C$70.86.
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About Regency Centers Corporation
Regency Centers Corporation is a real estate investment trust (REIT). The Company is the general partner of Regency Centers, L.P. (the Operating Partnership). The Company is engaged in the ownership, management, leasing, acquisition and development of retail shopping centers through the Operating Partnership.
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