Rent-A-Center, Inc. (NASDAQ:RCII) declared a quarterly dividend on Thursday, September 16th, Zacks reports. Stockholders of record on Tuesday, September 28th will be given a dividend of 0.31 per share on Tuesday, October 19th. This represents a $1.24 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, September 27th.
Rent-A-Center has raised its dividend payment by 391.7% over the last three years.
Rent-A-Center stock opened at $61.98 on Friday. Rent-A-Center has a 52 week low of $28.24 and a 52 week high of $67.76. The company has a debt-to-equity ratio of 1.55, a quick ratio of 0.66 and a current ratio of 2.95. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 16.80 and a beta of 1.57. The company has a 50 day moving average price of $59.50 and a 200 day moving average price of $58.50.
RCII has been the topic of several research analyst reports. Bank of America started coverage on Rent-A-Center in a research note on Wednesday, August 25th. They set a “buy” rating and a $85.00 target price on the stock. Zacks Investment Research lowered shares of Rent-A-Center from a “buy” rating to a “hold” rating and set a $64.00 price objective on the stock. in a research note on Thursday, May 27th. Finally, Janney Montgomery Scott upgraded shares of Rent-A-Center from a “neutral” rating to a “buy” rating in a research report on Thursday, August 12th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $69.67.
An institutional investor recently raised its position in Rent-A-Center stock. Morgan Stanley increased its stake in shares of Rent-A-Center, Inc. (NASDAQ:RCII) by 22.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 436,602 shares of the company’s stock after acquiring an additional 79,661 shares during the period. Morgan Stanley owned 0.66% of Rent-A-Center worth $23,170,000 as of its most recent filing with the SEC. 77.73% of the stock is owned by institutional investors.
Rent-A-Center, Inc engages in the provision of furniture, electronics, appliances, computers, and smartphones through flexible rental purchase agreements. It operates through the following segments: Rent-A-Center Business, Preferred Lease, Mexico, and Franchising. The Rent-A-Center Business segment consists of company-owned rent-to-own stores in the United States and Puerto Rico.
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