Regency Centers Corp (NYSE:REG) declared a dividend on Thursday, May 2nd, Fidelity reports. Shareholders of record on Monday, May 13th will be given a dividend of 0.585 per share by the real estate investment trust on Thursday, May 23rd. The ex-dividend date is Friday, May 10th. This is an increase from Regency Centers’s previous dividend of $0.38.
Regency Centers has raised its dividend payment by an average of 4.6% 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 61.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Regency Centers to earn $3.92 per share next year, which means the company should continue to be able to cover its $2.34 annual dividend with an expected future payout ratio of 59.7%.
Regency Centers stock traded down $0.16 during mid-day trading on Friday, reaching $66.80. 1,079,545 shares of the company were exchanged, compared to its average volume of 806,187. Regency Centers has a 12 month low of $55.38 and a 12 month high of $69.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market cap of $11.16 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 2.50 and a beta of 0.37.
Regency Centers (NYSE:REG) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.95 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.01). Regency Centers had a return on equity of 3.86% and a net margin of 23.19%. The company had revenue of $286.26 million for the quarter, compared to the consensus estimate of $274.40 million. During the same quarter last year, the business earned $0.96 EPS. Sell-side analysts expect that Regency Centers will post 3.78 earnings per share for the current fiscal year.
A number of equities analysts have commented on REG shares. Citigroup set a $75.00 price objective on Regency Centers and gave the stock a “buy” rating in a research note on Friday, February 22nd. SunTrust Banks restated a “buy” rating and set a $70.00 price objective on shares of Regency Centers in a research note on Friday, February 22nd. Barclays upgraded Regency Centers from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $63.00 to $69.00 in a research note on Monday, February 4th. BMO Capital Markets set a $64.00 price objective on Regency Centers and gave the stock a “hold” rating in a research note on Thursday, February 14th. Finally, Zacks Investment Research upgraded Regency Centers from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Tuesday, January 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $69.23.
In other Regency Centers news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the firm’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $64.92, for a total value of $3,246,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Lisa Palmer sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $64.80, for a total value of $972,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,941 shares of company stock worth $6,633,625. Company insiders own 1.10% of the company’s stock.
Regency Centers Company Profile
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. 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.
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