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Regency Centers

Nasdaq:REG
Snowflake Description

Average dividend payer with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
REG
Nasdaq
$11B
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. The last earnings update was 30 days ago. More info.


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REG Share Price and Events
7 Day Returns
2.1%
NasdaqGS:REG
0.5%
US REITs
-1.1%
US Market
1 Year Returns
18.4%
NasdaqGS:REG
17.4%
US REITs
6.4%
US Market
REG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Regency Centers (REG) 2.1% -0.4% 15.1% 18.4% -9.8% 30.2%
US REITs 0.5% 1.7% 14% 17.4% 12.3% 29.2%
US Market -1.1% 0.3% 16.7% 6.4% 37.9% 42.1%
1 Year Return vs Industry and Market
  • REG outperformed the REITs industry which returned 17.4% over the past year.
  • REG outperformed the Market in United States of America which returned 6.4% over the past year.
Price Volatility
REG
Industry
5yr Volatility vs Market

Value

 Is Regency Centers undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Regency Centers to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Regency Centers.

NasdaqGS:REG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:REG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.54
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.543 (1 + (1- 21%) (33.53%))
0.79
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NasdaqGS:REG using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Regency Centers is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Regency Centers is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NasdaqGS:REG DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.5%)
2019 549.29 Analyst x7 510.98
2020 574.14 Analyst x7 496.84
2021 605.02 Analyst x3 487.05
2022 616.00 Analyst x1 461.30
2023 665.40 Analyst x1 463.53
2024 692.42 Est @ 4.06% 448.71
2025 717.78 Est @ 3.66% 432.70
2026 742.06 Est @ 3.38% 416.14
2027 765.71 Est @ 3.19% 399.45
2028 789.06 Est @ 3.05% 382.92
Present value of next 10 years cash flows $4,499.62
NasdaqGS:REG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $789.06 × (1 + 2.73%) ÷ (7.5% – 2.73%)
$17,000.83
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $17,000.83 ÷ (1 + 7.5%)10
$8,250.24
NasdaqGS:REG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $4,499.62 + $8,250.24
$12,749.85
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $12,749.85 / 167.87
$75.95
NasdaqGS:REG Discount to Share Price
Calculation Result
Value per share (USD) From above. $75.95
Current discount Discount to share price of $66.11
= -1 x ($66.11 - $75.95) / $75.95
13%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Regency Centers is available for.
Intrinsic value
13%
Share price is $66.11 vs Future cash flow value of $75.95
Current Discount Checks
For Regency Centers to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Regency Centers's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Regency Centers's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Regency Centers's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Regency Centers's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:REG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $1.47
NasdaqGS:REG Share Price ** NasdaqGS (2019-03-22) in USD $66.11
United States of America REITs Industry PE Ratio Median Figure of 152 Publicly-Listed REITs Companies 30.93x
United States of America Market PE Ratio Median Figure of 3,061 Publicly-Listed Companies 17.15x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Regency Centers.

NasdaqGS:REG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:REG Share Price ÷ EPS (both in USD)

= 66.11 ÷ 1.47

45.04x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Regency Centers is overvalued based on earnings compared to the US REITs industry average.
  • Regency Centers is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Regency Centers's expected growth come at a high price?
Raw Data
NasdaqGS:REG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 45.04x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
5.1%per year
United States of America REITs Industry PEG Ratio Median Figure of 139 Publicly-Listed REITs Companies -0.18x
United States of America Market PEG Ratio Median Figure of 2,104 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

NasdaqGS:REG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 45.04x ÷ 5.1%

8.86x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Regency Centers is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Regency Centers's assets?
Raw Data
NasdaqGS:REG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $38.19
NasdaqGS:REG Share Price * NasdaqGS (2019-03-22) in USD $66.11
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.84x
United States of America Market PB Ratio Median Figure of 5,164 Publicly-Listed Companies 1.84x
NasdaqGS:REG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:REG Share Price ÷ Book Value per Share (both in USD)

= 66.11 ÷ 38.19

1.73x

* Primary Listing of Regency Centers.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Regency Centers is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Regency Centers's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Regency Centers has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Regency Centers expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Regency Centers expected to grow at an attractive rate?
  • Regency Centers's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Regency Centers's earnings growth is positive but not above the United States of America market average.
  • Regency Centers's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:REG Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:REG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 5.1%
NasdaqGS:REG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts -0.7%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 0.8%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 3.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.2%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:REG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:REG Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 329
2022-12-31 302
2021-12-31 1,150 284 1
2020-12-31 1,132 678 272 5
2019-12-31 1,104 660 249 5
NasdaqGS:REG Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,160 610 249
2018-09-30 1,139 590 255
2018-06-30 1,122 595 245
2018-03-31 1,103 588 246
2017-12-31 1,021 470 160
2017-09-30 892 417 131
2017-06-30 796 323 76
2017-03-31 689 253 63
2016-12-31 646 297 144
2016-09-30 651 284 106
2016-06-30 623 300 154
2016-03-31 608 298 152

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Regency Centers's earnings are expected to grow by 5.1% yearly, however this is not considered high growth (20% yearly).
  • Regency Centers's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:REG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Regency Centers Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:REG Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 1.95 1.95 1.95 1.00
2022-12-31 1.79 1.79 1.79 1.00
2021-12-31 1.69 1.73 1.65 2.00
2020-12-31 1.60 1.72 1.49 6.00
2019-12-31 1.48 1.56 1.39 6.00
NasdaqGS:REG Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 1.47
2018-09-30 1.50
2018-06-30 1.44
2018-03-31 1.44
2017-12-31 1.00
2017-09-30 0.91
2017-06-30 0.60
2017-03-31 0.58
2016-12-31 1.43
2016-09-30 1.07
2016-06-30 1.60
2016-03-31 1.59

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Regency Centers is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Regency Centers's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Regency Centers has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Regency Centers performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Regency Centers's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Regency Centers's year on year earnings growth rate has been positive over the past 5 years.
  • Regency Centers's 1-year earnings growth exceeds its 5-year average (55.8% vs 16.8%)
  • Regency Centers's earnings growth has exceeded the US REITs industry average in the past year (55.8% vs 22.6%).
Earnings and Revenue History
Regency Centers's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Regency Centers Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:REG Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,160.34 249.13 65.49
2018-09-30 1,139.36 255.36 69.95
2018-06-30 1,122.09 245.31 67.59
2018-03-31 1,102.65 245.83 67.56
2017-12-31 1,021.08 159.95 67.62
2017-09-30 892.14 130.68 66.25
2017-06-30 796.49 76.32 67.10
2017-03-31 688.81 62.76 66.70
2016-12-31 645.89 143.86 65.33
2016-09-30 651.00 105.60 68.07
2016-06-30 623.32 154.03 66.77
2016-03-31 607.75 151.87 65.52
2015-12-31 591.16 128.99 65.60
2015-09-30 573.05 184.89 62.59
2015-06-30 564.59 178.96 62.30
2015-03-31 560.87 171.66 62.42
2014-12-31 555.55 165.88 60.24
2014-09-30 509.16 107.73 57.18
2014-06-30 503.47 77.27 57.71
2014-03-31 487.62 69.51 57.46
2013-12-31 516.88 63.01 61.23
2013-09-30 503.60 42.10 63.86
2013-06-30 491.01 34.43 64.50
2013-03-31 497.16 21.89 63.55
2012-12-31 497.74 14.49 61.70
2012-09-30 508.89 26.55 58.10
2012-06-30 515.75 21.84 54.13
2012-03-31 507.97 27.54 55.29

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Regency Centers has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Regency Centers used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • Regency Centers's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Regency Centers's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Regency Centers has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Regency Centers's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Regency Centers's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Regency Centers is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Regency Centers's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Regency Centers's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Regency Centers Company Filings, last reported 2 months ago.

NasdaqGS:REG Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 6,450.17 3,720.70 60.01
2018-09-30 6,552.24 3,717.21 67.17
2018-06-30 6,568.79 3,831.50 62.62
2018-03-31 6,605.38 3,840.27 110.35
2017-12-31 6,733.05 3,595.15 59.89
2017-09-30 6,636.68 3,523.31 33.74
2017-06-30 6,734.04 3,509.69 107.77
2017-03-31 6,764.50 3,408.26 49.20
2016-12-31 2,624.50 1,643.00 24.88
2016-09-30 2,600.28 1,629.26 41.38
2016-06-30 2,202.03 2,027.31 24.94
2016-03-31 2,082.37 1,870.07 27.14
2015-12-31 2,082.62 1,884.82 36.86
2015-09-30 1,908.04 2,046.02 23.88
2015-06-30 1,909.87 2,002.88 27.28
2015-03-31 1,898.88 2,027.26 36.49
2014-12-31 1,936.48 2,040.15 113.78
2014-09-30 1,874.13 2,027.73 107.61
2014-06-30 1,818.40 2,033.27 44.86
2014-03-31 1,841.09 2,001.28 57.31
2013-12-31 1,861.13 1,854.73 115.92
2013-09-30 1,837.10 1,864.48 89.24
2013-06-30 1,836.03 1,892.18 85.15
2013-03-31 1,775.70 1,930.51 30.08
2012-12-31 1,745.91 1,941.97 26.66
2012-09-30 1,814.43 1,821.50 21.35
2012-06-30 1,817.60 2,063.37 23.03
2012-03-31 1,844.61 2,023.42 27.12
  • Regency Centers's level of debt (57.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (99.8% vs 57.7% today).
  • Debt is not well covered by operating cash flow (16.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.8x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Regency Centers's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Regency Centers has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Regency Centers's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.54%
Current annual income from Regency Centers dividends. Estimated to be 3.58% next year.
If you bought $2,000 of Regency Centers shares you are expected to receive $71 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Regency Centers's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).
  • Regency Centers's dividend is below the markets top 25% of dividend payers in United States of America (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:REG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2003 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.9%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:REG Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 2.53 2.00
2022-12-31 2.48 2.00
2021-12-31 2.44 4.00
2020-12-31 2.37 15.00
2019-12-31 2.30 14.00
NasdaqGS:REG Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-02-21 2.340 3.598
2019-02-13 2.340 3.543
2018-10-25 2.220 3.572
2018-08-02 2.220 3.457
2018-04-30 2.220 3.705
2018-02-08 2.220 3.830
2017-11-01 2.120 3.226
2017-08-03 2.120 3.310
2017-05-10 2.120 3.392
2017-02-08 2.040 3.060
2016-11-01 2.000 2.927
2016-08-02 2.000 2.580
2016-05-03 2.000 2.506
2016-02-10 2.000 2.726
2015-10-28 1.940 2.852
2015-08-05 1.940 3.104
2015-05-06 1.940 3.097
2015-01-14 1.940 2.909
2014-11-03 1.880 2.979
2014-08-06 1.880 3.336
2014-05-07 1.880 3.442
2014-02-13 1.880 3.681
2014-01-21 1.850 3.829
2013-07-31 1.850 3.790
2013-05-07 1.850 3.509
2013-01-30 1.850 3.501
2012-11-02 1.850 3.896
2012-07-31 1.850 3.785
2012-05-02 1.850 4.030
2012-02-01 1.850 4.261
2011-11-03 1.850 4.899
2011-08-03 1.850 4.893
2011-05-05 1.850 4.138
2011-02-02 1.850 4.248
2010-11-03 1.850 4.421
2010-08-04 1.850 4.671
2010-05-05 1.850 5.068
2010-02-03 1.850 5.004
2009-10-30 1.850 5.417
2009-08-05 1.850 5.306
2009-05-06 1.850 5.546
2009-03-24 2.900 8.890

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Regency Centers's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (291.5x coverage).
X
Income/ dividend checks
We assess Regency Centers's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Regency Centers afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Regency Centers has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Regency Centers's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Hap Stein
COMPENSATION $5,591,771
AGE 65
TENURE AS CEO 26.2 years
CEO Bio

Mr. Martin E. Stein, Jr. is Chairman of the Board and Chief Executive Officer of Regency Centers Corporation (“Regency”) since 1998. He served as 2008 Chairman of the National Association of Real Estate Investment Trusts (NAREIT). He Joined FRP Holdings, Inc. as a Director of 1992 has served as its Chairman of the board since 1999. He holds or has held leadership positions with NAREIT, the Urban Land Institute and the Real Estate Roundtable, as well as board positions with FRP Holdings and his alma mater, Washington and Lee University. He is a member of the International Council of Shopping Centers (“ICSC”). He is a former director of Stein Mart, Inc. from 2001 to 2014. He served as President of RRC Acquisitions, Inc. and served as a Director of Florida Rock Industries, Inc. He volunteers and financially supports numerous charitable organizations, including Teach for America and the Vail Valley Foundation. He serves on the Jacksonville Civic Council and has co-chaired United Way fundraising. He holds a bachelor’s degree from Washington and Lee University and a Master of Business Administration from Dartmouth College.

CEO Compensation
  • Hap's compensation has been consistent with company performance over the past year.
  • Hap's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Regency Centers management team in years:

6.6
Average Tenure
60.5
Average Age
  • The average tenure for the Regency Centers management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Hap Stein

TITLE
Chairman of the Board & CEO
COMPENSATION
$6M
AGE
65
TENURE
26.2 yrs

Lisa Palmer

TITLE
President
COMPENSATION
$3M
AGE
50
TENURE
3.2 yrs

Jim Thompson

TITLE
Executive VP of Operations
COMPENSATION
$2M
AGE
62
TENURE
3.2 yrs

Mac Chandler

TITLE
Executive Vice President of Investments
COMPENSATION
$2M
AGE
51
TENURE
9.6 yrs

Dale Johnston

TITLE
Chief Information Officer & Senior VP

Laura Clark

TITLE
Senior Vice President of Capital Markets

Barbara Johnston

TITLE
Senior VP
AGE
65

Jan Hanak

TITLE
Vice President of Marketing & Communications
TENURE
3.6 yrs

Amy D'Olimpio

TITLE
Senior Vice President of Human Resources

John Delatour

TITLE
Managing Director of Texas
COMPENSATION
$2M
AGE
59
TENURE
20.2 yrs
Board of Directors Tenure

Average tenure and age of the Regency Centers board of directors in years:

7.6
Average Tenure
66
Average Age
  • The tenure for the Regency Centers board of directors is about average.
Board of Directors

Lisa Palmer

TITLE
President
COMPENSATION
$3M
AGE
50
TENURE
0.9 yrs

John Schweitzer

TITLE
Lead Director
COMPENSATION
$247K
AGE
73

Hap Stein

TITLE
Chairman of the Board & CEO
COMPENSATION
$6M
AGE
65
TENURE
21.2 yrs

Tom Wattles

TITLE
Director
COMPENSATION
$238K
AGE
66
TENURE
18.2 yrs

Ron Blankenship

TITLE
Director
COMPENSATION
$243K
AGE
68
TENURE
18.2 yrs

Bryce Blair

TITLE
Director
COMPENSATION
$214K
AGE
59
TENURE
4.4 yrs

Mary Fiala

TITLE
Director
COMPENSATION
$213K
AGE
66
TENURE
22.2 yrs

Dave O’Connor

TITLE
Director
COMPENSATION
$209K
AGE
54
TENURE
7.6 yrs

Joe Azrack

TITLE
Independent Director
COMPENSATION
$186K
AGE
71
TENURE
2 yrs

Peter Linneman

TITLE
Director
COMPENSATION
$191K
AGE
67
TENURE
2 yrs
Who owns this company?
Recent Insider Trading
  • Regency Centers insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
18. Mar 19 Sell Alan Roth Individual 18. Mar 19 18. Mar 19 -1,658 $65.15 $-108,019
11. Mar 19 Sell Craig Ramey Individual 08. Mar 19 08. Mar 19 -2,150 $63.98 $-137,557
07. Mar 19 Sell Nicholas Wibbenmeyer Individual 07. Mar 19 07. Mar 19 -2,621 $64.27 $-168,452
07. Mar 19 Sell John Schweitzer Individual 06. Mar 19 07. Mar 19 -14,399 $64.85 $-933,775
07. Mar 19 Sell Barbara Johnston Individual 07. Mar 19 07. Mar 19 -230 $64.61 $-14,860
06. Mar 19 Sell Dan Chandler Individual 05. Mar 19 05. Mar 19 -4,033 $65.19 $-262,911
28. Feb 19 Sell Martin Stein Individual 27. Feb 19 27. Feb 19 -50,000 $64.92 $-3,246,000
28. Feb 19 Sell Lisa Palmer Individual 28. Feb 19 28. Feb 19 -15,000 $64.80 $-972,000
10. Sep 18 Sell Nicholas Wibbenmeyer Individual 10. Sep 18 10. Sep 18 -2,095 $65.81 $-137,872
20. Aug 18 Sell Alan Roth Individual 17. Aug 18 17. Aug 18 -2,300 $65.15 $-149,845
14. Aug 18 Sell Dan Chandler Individual 09. Aug 18 09. Aug 18 -2,500 $63.35 $-158,375
08. Aug 18 Sell Craig Ramey Individual 07. Aug 18 07. Aug 18 -1,365 $63.27 $-86,364
18. May 18 Sell Barbara Johnston Individual 17. May 18 17. May 18 -180 $56.34 $-10,141
09. May 18 Sell Craig Ramey Individual 08. May 18 08. May 18 -1,200 $58.80 $-70,560
X
Management checks
We assess Regency Centers's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Regency Centers has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Should We Be Cautious About Regency Centers Corporation's (NASDAQ:REG) ROE Of 3.9%?

Our data shows Regency Centers has a return on equity of 3.9% for the last year. … Another way to think of that is that for every $1 worth of equity in the company, it was able to earn $0.039. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Company Info

Description

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. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member.

Details
Name: Regency Centers Corporation
REG
Exchange: NasdaqGS
Founded: 1963
$11,097,696,955
$11,074,564,934
167,867,145
Website: http://www.regencycenters.com
Address: Regency Centers Corporation
One Independent Drive,
Suite 114,
Jacksonville,
Florida, 32202,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS REG Common Shares Nasdaq Global Select US USD 29. Oct 1993
DB RRC Common Shares Deutsche Boerse AG DE EUR 29. Oct 1993
LSE 0KUT Common Shares London Stock Exchange GB USD 29. Oct 1993
Number of employees
Current staff
Staff numbers
446
Regency Centers employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/23 23:42
End of day share price update: 2019/03/22 00:00
Last estimates confirmation: 2019/03/22
Last earnings filing: 2019/02/21
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.