Regency Centers Corporation (NASDAQ:REG) Announces $0.76 Quarterly Dividend

Key Points

• Dividend declared: Regency Centers announced a quarterly dividend of $0.755 per share (about $0.76) payable July 2 to shareholders of record June 12, representing an annualized payout of $3.02 and a yield of roughly 3.9%.
• Payout coverage concern: The company’s current payout ratio is 123.8%, meaning the dividend isn’t covered by present earnings, though analysts forecast $5.07 EPS next year that would lower the expected payout ratio to about 59.6%.
• Insider selling: Insiders have sold 460,032 shares (~$36.0 million) in the last 90 days, including Chairman Martin E. Stein Jr.’s sale of 274,615 shares, while insiders now own about 1% of the company.

Regency Centers Corporation (NASDAQ:REG - Get Free Report) declared a quarterly dividend on Wednesday, May 6th. Stockholders of record on Friday, June 12th will be given a dividend of 0.755 per share on Thursday, July 2nd. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, June 12th.

Regency Centers has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Regency Centers has a payout ratio of 123.8% 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 $5.07 per share next year, which means the company should continue to be able to cover its $3.02 annual dividend with an expected future payout ratio of 59.6%.

Regency Centers Trading Down 0.2%

NASDAQ:REG opened at $77.70 on Friday. The company has a market capitalization of $14.23 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 3.36 and a beta of 0.82. The stock has a fifty day simple moving average of $77.92 and a 200-day simple moving average of $73.46. Regency Centers has a 52-week low of $66.86 and a 52-week high of $81.66. The company has a quick ratio of 1.05, a current ratio of 2.14 and a debt-to-equity ratio of 0.72.

Insider Buying and Selling

In other Regency Centers news, insider Nicholas Andrew Wibbenmeyer sold 7,927 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $79.06, for a total value of $626,708.62. Following the sale, the insider owned 33,069 shares of the company's stock, valued at $2,614,435.14. This trade represents a 19.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Martin E. Stein, Jr. sold 274,615 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $78.40, for a total value of $21,529,816.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 460,032 shares of company stock worth $35,996,456 in the last ninety days. Insiders own 1.00% of the company's stock.

Institutional Trading of Regency Centers

Hedge funds have recently modified their holdings of the company. Havemeyer Place LP bought a new stake in shares of Regency Centers in the 4th quarter worth approximately $26,000. Hantz Financial Services Inc. lifted its position in shares of Regency Centers by 388.9% in the 4th quarter. Hantz Financial Services Inc. now owns 440 shares of the company's stock worth $30,000 after acquiring an additional 350 shares during the period. Brown Brothers Harriman & Co. lifted its position in shares of Regency Centers by 63.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 406 shares of the company's stock worth $30,000 after buying an additional 157 shares during the period. CYBER HORNET ETFs LLC bought a new position in shares of Regency Centers during the 2nd quarter worth approximately $31,000. Finally, Steigerwald Gordon & Koch Inc. bought a new position in shares of Regency Centers during the 3rd quarter worth approximately $33,000. Institutional investors own 96.07% of the company's stock.

About Regency Centers

Regency Centers Corporation is a publicly traded real estate investment trust (REIT) specializing in the ownership, operation and development of grocery-anchored shopping centers. Focused on everyday needs retail, the company's portfolio is strategically concentrated in high-growth, densely populated markets across the United States. By aligning its properties with essential retailers, Regency Centers delivers stable income streams and drives sustained value for shareholders.

Founded in 1963 and headquartered in Jacksonville, Florida, Regency Centers began as a single shopping center developer before evolving into one of the largest owners of grocery-center real estate.

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