LONDON, UK / ACCESSWIRE / February 15, 2018 / Active-Investors has a free review on Regency Centers Corp. (NYSE: REG) ("Regency") following the Company's announcement that it will begin trading ex-dividend on February 16, 2018. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on February 15, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on REG:
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On February 06, 2018, Regency's Board declared a quarterly cash dividend on the Company's common stock of $0.555 per share, representing an annualized increase of 5.7%. The dividend is payable on March 02, 2018, to shareholders of record as of February 20, 2018.
Regency's indicated dividend represents a yield of 3.88% compared to the average dividend yield of 5.22% for the Financial sector. The Company has raised dividend for four consecutive years.
Regency has a dividend payout ratio of 63.2%, which indicates that the Company distributes approximately $0.63 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Regency is forecasted to report earnings of $1.52 per share for the next year compared to the Company's annualized dividend of $2.22 per share. One of the primary reasons for the difference between earnings and annualized dividend is that Regency is a Real Estate Investment Trust (REIT) which is structured by law to distribute at least 90% of earnings. Moreover, since REITs generate income from owning portfolios of investment real estate, they are likely to have higher depreciation charges.
Since depreciation is a non-cash charge, it does not directly impact the ability of dividend the companies can distribute. For this reason, Fund from Operations (FFO) is calculated by adding depreciation and amortization to earnings and subtracting any gains on sales which then provides a better picture of any company's profitability and capacity to pay and to sustain dividends. For instance, for the three months ended December 31, 2017, Regency reported net income of $85.1 million, or $0.50 per diluted share, compared to $55.9 million, or $0.53 per diluted share, for Q4 2016.
On the other hand, the Company reported NAREIT FFO of $161.4 million, or $0.94 per diluted share, for Q4 2017 compared to $83.1 million, or $0.79 per diluted share, for Q4 2016. Regency's FFO number indicates that the Company should be able to comfortably cover its dividend payout.
Recent Development for Regency
On January 24, 2018, Regency announced the off-market acquisition of two adjacent properties. The 33,000-square foot center anchored by Petco (Hewlett I) and the 20,000-square foot center anchored by Duane Reade (Hewlett II) were separately operated but acted as a single center. Under Regency's ownership the two will operate as a single center known as Hewlett Crossing.
The acquisition of Hewlett Crossing Increased Regency's Long Island presence to 14 centers totaling nearly 1.9 million-square feet.
About Regency Centers Corp.
Regency is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas, and the Company's stock is an S&P 500 Index member. The Company's 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.
Stock Performance Snapshot
February 14, 2018 - At Wednesday's closing bell, Regency Centers' stock slightly climbed 0.21%, ending the trading session at $57.66.
Volume traded for the day: 1.36 million shares, which was above the 3-month average volume of 978.22 thousand shares.
After yesterday's close, Regency Centers' market cap was at $9.61 billion.
Price to Earnings (P/E) ratio was at 63.71.
The stock has a dividend yield of 3.68%.
The stock is part of the Financial sector, categorized under the REIT - Retail industry. This sector was up 1.8% at the end of the session.
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