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

Key Points

• Regency Centers declared a quarterly dividend of $0.755 per share, payable October 2 to shareholders of record September 11, implying an annualized yield of approximately 3.9%.
• The REIT has raised its dividend for five consecutive years, but its current 123.8% payout ratio exceeds earnings; analysts expect improved coverage next year with a projected payout ratio of 59.3%.
• REG shares fell 2.7% to $76.96, while analysts maintained a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $83.75.

Regency Centers Corporation (NASDAQ:REG - Get Free Report) declared a quarterly dividend on Wednesday, August 5th. Shareholders of record on Friday, September 11th will be paid a dividend of 0.755 per share on Friday, October 2nd. This represents a c) dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, September 11th.

Regency Centers has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. Regency Centers has a dividend 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. Analysts expect Regency Centers to earn $5.09 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 59.3%.

Regency Centers Stock Down 2.7%

REG stock traded down $2.11 during mid-day trading on Thursday, hitting $76.96. The stock had a trading volume of 2,584,901 shares, compared to its average volume of 1,436,083. Regency Centers has a 1-year low of $66.86 and a 1-year high of $83.66. The company has a fifty day moving average of $79.70 and a 200 day moving average of $77.76. The company has a current ratio of 1.25, a quick ratio of 2.14 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $14.09 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 3.32 and a beta of 0.80.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Regency Centers from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. Raymond James Financial reaffirmed an "outperform" rating and issued a $88.00 price objective on shares of Regency Centers in a research note on Monday, June 29th. Jefferies Financial Group raised shares of Regency Centers to a "strong-buy" rating in a research report on Friday, June 26th. Weiss Ratings raised Regency Centers from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday. Finally, UBS Group increased their price objective on Regency Centers from $81.00 to $85.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $83.75.

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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