Regency Centers Co. (REG) To Go Ex-Dividend on June 11th

Regency Centers Co. (NASDAQ:REG) announced a quarterly dividend on Wednesday, May 7th, RTT News reports. Investors of record on Wednesday, June 11th will be given a dividend of 0.705 per share on Wednesday, July 2nd. This represents a $2.82 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Wednesday, June 11th.

Regency Centers has increased its dividend by an average of 3.9% annually over the last three years. Regency Centers has a dividend payout ratio of 117.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

REG stock opened at $71.86 on Friday. The stock has a market capitalization of $13.04 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 3.75 and a beta of 1.02. The firm’s 50-day moving average price is $71.69 and its two-hundred day moving average price is $72.73. The company has a current ratio of 0.85, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66. Regency Centers has a 12-month low of $58.19 and a 12-month high of $78.18.

Regency Centers (NASDAQ:REG) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.01. The firm had revenue of $370.35 million for the quarter, compared to analyst estimates of $364.64 million. Regency Centers had a return on equity of 5.91% and a net margin of 27.54%. During the same period last year, the company earned $1.08 EPS. As a group, equities analysts predict that Regency Centers will post 4.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on REG. Wells Fargo & Company decreased their price objective on Regency Centers from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Wednesday, March 26th. Scotiabank lowered their price objective on Regency Centers from $80.00 to $76.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.08.

Insider Transactions at Regency Centers

In other news, Chairman Martin E. Stein, Jr. sold 50,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $73.48, for a total transaction of $3,674,000.00. Following the completion of the sale, the chairman now owns 110,263 shares of the company’s stock, valued at $8,102,125.24. This represents a 31.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lisa Palmer sold 25,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $73.26, for a total transaction of $1,831,500.00. Following the completion of the transaction, the chief executive officer now owns 139,923 shares in the company, valued at $10,250,758.98. This trade represents a 15.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,000 shares of company stock worth $6,977,500 over the last three months. 1.00% of the stock is currently owned by company insiders.

About Regency Centers

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.