Regency Centers Co. (REG) to Issue Quarterly Dividend of $0.67 on July 3rd

Regency Centers Co. (NASDAQ:REG) announced a quarterly dividend on Thursday, May 2nd, RTT News reports. Investors 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 annualized dividend and a yield of 4.54%.

Regency Centers has increased its dividend payment by an average of 3.3% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Regency Centers has a payout ratio of 124.1% 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 $4.39 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 Price Performance

Shares of NASDAQ:REG opened at $59.00 on Friday. The company has a 50-day moving average price of $59.78 and a two-hundred day moving average price of $61.70. Regency Centers has a twelve month low of $54.72 and a twelve month high of $68.47. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $10.90 billion, a PE ratio of 28.78, a P/E/G ratio of 3.95 and a beta of 1.16.

Analysts Set New Price Targets

Several brokerages have recently weighed in on REG. Deutsche Bank Aktiengesellschaft assumed coverage on Regency Centers in a research report on Tuesday, January 30th. They set a “buy” rating and a $74.00 price target on the stock. Truist Financial increased their target price on shares of Regency Centers from $71.00 to $72.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Evercore ISI upgraded shares of Regency Centers from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $69.00 to $71.00 in a research report on Monday, January 22nd. Mizuho began coverage on shares of Regency Centers in a report on Thursday, April 18th. They issued a “neutral” rating and a $60.00 price target on the stock. Finally, Wells Fargo & Company assumed coverage on Regency Centers in a research note on Thursday, February 1st. They set an “overweight” rating and a $70.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.73.

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.