Regency Centers Corporation (NASDAQ:REG) Plans $0.76 Quarterly Dividend

Regency Centers Corporation (NASDAQ:REG) announced a quarterly dividend on Wednesday, August 5th. Stockholders of record on Friday, September 11th will be given a dividend of 0.755 per share on Friday, October 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, September 11th.

Regency Centers has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Regency Centers has a dividend payout ratio of 123.8% 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 $5.09 per share next year, which means the company should continue to be able to cover its $3.02 annual dividend with an expected future payout ratio of 59.3%.

Regency Centers Price Performance

Shares of NASDAQ REG traded down $2.11 during mid-day trading on Thursday, reaching $76.96. The company had a trading volume of 2,584,901 shares, compared to its average volume of 1,436,083. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.14 and a current ratio of 1.25. Regency Centers has a one year low of $66.86 and a one year high of $83.66. The firm has a market cap of $14.09 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 3.32 and a beta of 0.80. The business’s 50-day simple moving average is $79.70 and its 200 day simple moving average is $77.76.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. UBS Group upped their price target on shares of Regency Centers from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Weiss Ratings upgraded Regency Centers from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday. Citigroup raised their target price on Regency Centers from $76.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Evercore set a $83.00 price target on Regency Centers in a research note on Thursday, July 30th. Finally, LADENBURG THALM/SH SH upped their price objective on Regency Centers from $83.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.75.

Regency Centers Company Profile

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company’s portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.