Regency Centers Co. (REG) To Go Ex-Dividend on September 12th

Regency Centers Co. (NASDAQ:REG) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Investors of record on Thursday, September 12th will be given a dividend of 0.67 per share on Thursday, October 3rd. This represents a $2.68 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Thursday, September 12th.

Regency Centers has increased its dividend payment by an average of 3.3% annually over the last three years. Regency Centers has a dividend payout ratio of 129.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Up 2.5 %

REG stock opened at $74.44 on Tuesday. Regency Centers has a 12 month low of $56.29 and a 12 month high of $74.52. The firm has a market cap of $13.75 billion, a PE ratio of 36.31, a P/E/G ratio of 4.53 and a beta of 1.21. The firm has a 50 day simple moving average of $68.11 and a 200 day simple moving average of $62.95. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93.

Regency Centers (NASDAQ:REG) last released its earnings results on Thursday, August 1st. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.48). The business had revenue of $357.25 million for the quarter, compared to analyst estimates of $361.56 million. Regency Centers had a net margin of 27.60% and a return on equity of 5.63%. During the same period in the prior year, the company earned $1.03 earnings per share. Equities research analysts forecast that Regency Centers will post 4.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on REG shares. JPMorgan Chase & Co. increased their target price on shares of Regency Centers from $71.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Wells Fargo & Company increased their target price on shares of Regency Centers from $69.00 to $79.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Scotiabank increased their target price on shares of Regency Centers from $65.00 to $75.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Raymond James increased their target price on shares of Regency Centers from $67.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Finally, Truist Financial increased their target price on shares of Regency Centers from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $74.55.

Insider Activity at Regency Centers

In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total value of $1,750,000.00. Following the completion of the sale, the chairman now directly owns 307,199 shares of the company’s stock, valued at approximately $21,503,930. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Regency Centers news, VP Michael R. Herman sold 1,000 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $69.57, for a total value of $69,570.00. Following the completion of the sale, the vice president now directly owns 13,010 shares of the company’s stock, valued at approximately $905,105.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Martin E. Stein, Jr. sold 25,000 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the chairman now directly owns 307,199 shares of the company’s stock, valued at $21,503,930. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Regency Centers Company Profile

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.