Regency Centers Co. (NASDAQ:REG) to Issue $0.71 Quarterly Dividend

Regency Centers Co. (NASDAQ:REG) declared a quarterly dividend on Tuesday, February 4th, Wall Street Journal reports. Investors of record on Wednesday, March 12th will be given a dividend of 0.705 per share on Wednesday, April 2nd. This represents a $2.82 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Wednesday, March 12th.

Regency Centers has raised its dividend by an average of 3.9% annually over the last three years. Regency Centers has a dividend payout ratio of 122.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Regency Centers to earn $4.67 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 60.4%.

Regency Centers Stock Down 0.7 %

REG stock opened at $73.96 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. The business’s 50 day simple moving average is $72.92 and its 200 day simple moving average is $73.00. Regency Centers has a 1-year low of $56.51 and a 1-year high of $78.18. The firm has a market capitalization of $13.41 billion, a PE ratio of 34.89, a PEG ratio of 3.75 and a beta of 1.23.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.61. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. As a group, research analysts anticipate that Regency Centers will post 4.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on REG shares. Evercore ISI decreased their price objective on Regency Centers from $78.00 to $77.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. BTIG Research upped their price objective on Regency Centers from $72.00 to $79.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Mizuho upped their target price on Regency Centers from $78.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company cut their target price on Regency Centers from $81.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $78.08.

Insiders Place Their Bets

In other news, CFO Michael J. Mas sold 20,000 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $73.60, for a total value of $1,472,000.00. Following the completion of the sale, the chief financial officer now owns 54,020 shares of the company’s stock, valued at approximately $3,975,872. This represents a 27.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lisa Palmer sold 25,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $73.26, for a total value of $1,831,500.00. Following the completion of the sale, the chief executive officer now directly owns 139,923 shares of the company’s stock, valued at approximately $10,250,758.98. The trade was a 15.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

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.