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

Regency Centers Co. (NASDAQ:REGGet Free Report) announced a quarterly dividend on Wednesday, May 1st, RTT News reports. Stockholders of record on Wednesday, June 12th will be given a dividend of 0.67 per share on Wednesday, July 3rd. This represents a $2.68 annualized dividend and a dividend 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% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Regency Centers has a dividend payout ratio of 125.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 opened at $60.76 on Tuesday. The company has a market capitalization of $11.23 billion, a P/E ratio of 29.64, a PEG ratio of 4.48 and a beta of 1.19. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.37 and a quick ratio of 1.37. Regency Centers has a one year low of $56.29 and a one year high of $68.47. The business’s 50 day simple moving average is $59.51 and its 200-day simple moving average is $61.67.

Wall Street Analyst Weigh In

REG has been the subject of a number of research reports. Scotiabank lowered their target price on Regency Centers from $68.00 to $65.00 and set a “sector perform” rating for the company in a report on Thursday, May 16th. Truist Financial cut 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 note on Monday, May 20th. Finally, Mizuho raised their target price on shares of Regency Centers from $60.00 to $61.00 and gave the company a “neutral” rating in a research note on Thursday, May 23rd. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Regency Centers presently has an average rating of “Moderate Buy” and a consensus target price of $70.09.

Read Our Latest Research Report on REG

About Regency Centers

(Get Free Report)

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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