Regency Centers Corporation (NASDAQ:REG) Plans $0.71 Quarterly Dividend

Key Points

• Regency Centers Corporation has announced a quarterly dividend of $0.71 per share, to be paid to shareholders on October 2nd after record date September 11th, representing an annual yield of 3.8%.
• The company currently has a dividend payout ratio of 115.6%, indicating reliance on its balance sheet to meet its dividend commitments.
• Regency Centers reported $1.16 earnings per share for the last quarter, exceeding analysts' expectations, with revenues of $369.85 million reflecting a 6.6% increase year-over-year.

Regency Centers Corporation (NASDAQ:REG - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, RTT News reports. Investors of record on Thursday, September 11th will be given a dividend of 0.705 per share on Thursday, October 2nd. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, September 11th.

Regency Centers has a payout ratio of 115.6% 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 $4.67 per share next year, which means the company should continue to be able to cover its $2.82 annual dividend with an expected future payout ratio of 60.4%.

Regency Centers Stock Performance

REG stock traded down $0.62 during trading on Friday, reaching $71.92. 746,743 shares of the stock were exchanged, compared to its average volume of 1,204,858. Regency Centers has a twelve month low of $63.44 and a twelve month high of $78.18. The company has a market capitalization of $13.06 billion, a P/E ratio of 33.61, a price-to-earnings-growth ratio of 3.45 and a beta of 1.05. The stock has a 50 day simple moving average of $70.97 and a 200-day simple moving average of $71.86. The company has a current ratio of 1.13, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72.

Regency Centers (NASDAQ:REG - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.04. Regency Centers had a return on equity of 6.05% and a net margin of 27.00%. The business had revenue of $369.85 million for the quarter, compared to the consensus estimate of $366.35 million. During the same period last year, the business earned $1.06 earnings per share. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Regency Centers will post 4.54 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Nicholas Andrew Wibbenmeyer sold 4,158 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $72.44, for a total value of $301,205.52. Following the completion of the transaction, the insider owned 33,069 shares in the company, valued at $2,395,518.36. The trade was a 11.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of REG. Nuveen LLC bought a new position in Regency Centers in the 1st quarter worth approximately $182,926,000. Wellington Management Group LLP raised its position in shares of Regency Centers by 2,846.0% during the 1st quarter. Wellington Management Group LLP now owns 1,256,228 shares of the company's stock valued at $92,659,000 after acquiring an additional 1,213,586 shares during the last quarter. Northern Trust Corp raised its position in shares of Regency Centers by 64.1% during the 4th quarter. Northern Trust Corp now owns 2,781,614 shares of the company's stock valued at $205,645,000 after acquiring an additional 1,086,797 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC raised its position in shares of Regency Centers by 63.5% during the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 2,521,633 shares of the company's stock valued at $185,996,000 after acquiring an additional 979,126 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Regency Centers by 9.8% during the 1st quarter. Invesco Ltd. now owns 5,899,497 shares of the company's stock valued at $435,147,000 after acquiring an additional 525,047 shares during the last quarter. Institutional investors own 96.07% of the company's stock.

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.