Regency Centers Co. (NASDAQ:REG) Declares Quarterly Dividend of $0.63

Regency Centers Co. (NASDAQ:REGGet Rating) announced a quarterly dividend on Thursday, May 5th, Wall Street Journal reports. Shareholders of record on Wednesday, June 15th will be paid a dividend of 0.625 per share on Wednesday, July 6th. This represents a $2.50 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Tuesday, June 14th.

Regency Centers has increased its dividend payment by an average of 2.8% per year over the last three years and has increased its dividend every year for the last 8 years. Regency Centers has a payout ratio of 128.2% 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 $3.98 per share next year, which means the company should continue to be able to cover its $2.50 annual dividend with an expected future payout ratio of 62.8%.

Shares of REG stock opened at $69.57 on Friday. Regency Centers has a 52-week low of $61.48 and a 52-week high of $78.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.77 and a current ratio of 0.77. The company has a 50-day simple moving average of $69.12 and a two-hundred day simple moving average of $71.11. The company has a market capitalization of $11.92 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 6.23 and a beta of 1.08.

Regency Centers (NASDAQ:REGGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.69. Regency Centers had a net margin of 39.83% and a return on equity of 7.34%. During the same period in the prior year, the business posted $0.90 earnings per share. On average, sell-side analysts forecast that Regency Centers will post 3.87 EPS for the current fiscal year.

In other news, Director Nicholas Andrew Wibbenmeyer sold 4,330 shares of the business’s stock in a transaction dated Wednesday, March 9th. The stock was sold at an average price of $69.81, for a total value of $302,277.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in REG. Deutsche Bank AG lifted its stake in shares of Regency Centers by 82.6% in the 4th quarter. Deutsche Bank AG now owns 1,792,210 shares of the company’s stock valued at $135,044,000 after acquiring an additional 810,546 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Regency Centers by 357.8% in the 4th quarter. Millennium Management LLC now owns 225,980 shares of the company’s stock valued at $17,028,000 after acquiring an additional 176,622 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Regency Centers by 33.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 598,451 shares of the company’s stock valued at $45,093,000 after acquiring an additional 149,792 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Regency Centers by 70.2% in the 4th quarter. Sei Investments Co. now owns 196,288 shares of the company’s stock valued at $14,794,000 after acquiring an additional 80,936 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in shares of Regency Centers by 246.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 24,300 shares of the company’s stock valued at $1,831,000 after acquiring an additional 40,927 shares during the last quarter. 91.72% of the stock is owned by institutional investors.

A number of equities research analysts have issued reports on REG shares. Truist Financial upped their price objective on shares of Regency Centers from $82.00 to $87.00 in a research report on Tuesday, January 18th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Regency Centers from $92.00 to $83.00 and set a “buy” rating on the stock in a research note on Thursday, March 31st. Compass Point lowered their target price on shares of Regency Centers from $82.00 to $75.00 and set a “neutral” rating on the stock in a research note on Monday, February 14th. Finally, Morgan Stanley lowered their target price on shares of Regency Centers from $73.00 to $67.50 and set an “equal weight” rating on the stock in a research note on Thursday, March 3rd. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Regency Centers currently has a consensus rating of “Hold” and a consensus target price of $74.27.

About Regency Centers (Get Rating)

Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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.

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Dividend History for Regency Centers (NASDAQ:REG)

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