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

Regency Centers Co. (NASDAQ:REGGet Free Report) announced a quarterly dividend on Wednesday, May 1st, RTT News reports. Shareholders of record on Wednesday, June 12th will be paid a dividend of 0.67 per share on Wednesday, July 3rd. This represents a $2.68 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date of this dividend is Wednesday, June 12th.

Regency Centers has raised its dividend payment by an average of 3.3% annually over the last three years and has increased its dividend every year for the last 4 years. Regency Centers has a dividend payout ratio of 125.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Down 0.8 %

Shares of REG stock opened at $60.76 on Tuesday. The stock has a market cap of $11.23 billion, a P/E ratio of 29.64, a P/E/G ratio of 4.48 and a beta of 1.19. Regency Centers has a 12 month low of $56.29 and a 12 month high of $68.47. The company has a 50 day simple moving average of $59.51 and a two-hundred day simple moving average of $61.67. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Scotiabank dropped their price target on shares of Regency Centers from $68.00 to $65.00 and set a “sector perform” rating for the company in a research report on Thursday, May 16th. Mizuho upped their target price on shares of Regency Centers from $60.00 to $61.00 and gave the stock a “neutral” rating in a research report on Thursday, May 23rd. Finally, Truist Financial dropped their target price on shares of Regency Centers from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, May 20th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.09.

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About Regency Centers

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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.

Further Reading

Dividend History for Regency Centers (NASDAQ:REG)

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