Brixmor Property Group Inc. (NYSE:BRX) Declares $0.27 Quarterly Dividend

Brixmor Property Group Inc. (NYSE:BRX) declared a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Investors of record on Tuesday, July 2nd will be paid a dividend of 0.2725 per share by the real estate investment trust on Monday, July 15th. This represents a $1.09 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Tuesday, July 2nd.

Brixmor Property Group has raised its dividend payment by an average of 22.2% per year over the last three years. Brixmor Property Group has a payout ratio of 113.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Brixmor Property Group to earn $2.16 per share next year, which means the company should continue to be able to cover its $1.09 annual dividend with an expected future payout ratio of 50.5%.

Brixmor Property Group Trading Up 1.4 %

Shares of NYSE:BRX opened at $23.09 on Monday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.86. Brixmor Property Group has a 52-week low of $19.46 and a 52-week high of $24.47. The stock has a market cap of $6.96 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 2.79 and a beta of 1.55. The business has a 50-day moving average price of $22.22 and a 200-day moving average price of $22.51.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.22). The business had revenue of $320.24 million for the quarter, compared to analyst estimates of $314.82 million. Brixmor Property Group had a net margin of 22.47% and a return on equity of 9.84%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Equities analysts predict that Brixmor Property Group will post 2.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BRX. The Goldman Sachs Group decreased their target price on shares of Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Truist Financial restated a “buy” rating and issued a $25.00 price target on shares of Brixmor Property Group in a research note on Monday, March 25th. JPMorgan Chase & Co. lowered their price target on Brixmor Property Group from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Wells Fargo & Company dropped their price objective on Brixmor Property Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 28th. Finally, Mizuho reduced their target price on Brixmor Property Group from $24.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.13.

Brixmor Property Group Company Profile

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 362 retail centers comprise approximately 64 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision to be the center of the communities we serve and are home to a diverse mix of thriving national, regional and local retailers.