Brixmor Property Group Inc. (NYSE:BRX) Declares Dividend Increase – $0.29 Per Share

Brixmor Property Group Inc. (NYSE:BRXGet Free Report) declared a quarterly dividend on Monday, October 28th, Zacks reports. Shareholders of record on Friday, January 3rd will be given a dividend of 0.287 per share by the real estate investment trust on Wednesday, January 15th. This represents a $1.15 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date is Friday, January 3rd. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27.

Brixmor Property Group has raised its dividend payment by an average of 22.2% annually over the last three years. Brixmor Property Group has a dividend payout ratio of 112.4% indicating that 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 Brixmor Property Group to earn $2.19 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 49.8%.

Brixmor Property Group Stock Down 0.1 %

Shares of BRX traded down $0.04 during mid-day trading on Wednesday, reaching $27.48. 674,875 shares of the stock traded hands, compared to its average volume of 2,279,725. The stock has a fifty day simple moving average of $27.52 and a 200 day simple moving average of $24.64. Brixmor Property Group has a 12-month low of $20.02 and a 12-month high of $28.45. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.88. The firm has a market cap of $8.28 billion, a price-to-earnings ratio of 29.59, a P/E/G ratio of 4.43 and a beta of 1.57.

Brixmor Property Group (NYSE:BRXGet Free Report) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The company had revenue of $320.68 million for the quarter, compared to the consensus estimate of $320.22 million. During the same quarter last year, the company earned $0.50 earnings per share. The company’s revenue was up 4.3% compared to the same quarter last year. Sell-side analysts expect that Brixmor Property Group will post 2.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BRX has been the subject of a number of research reports. Stifel Nicolaus raised their target price on shares of Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a report on Tuesday. StockNews.com cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Mizuho increased their target price on Brixmor Property Group from $23.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Truist Financial lifted their price target on Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, Scotiabank increased their price objective on Brixmor Property Group from $25.00 to $29.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $28.54.

Read Our Latest Analysis on Brixmor Property Group

Insiders Place Their Bets

In related news, Director Sheryl Maxwell Crosland sold 5,000 shares of Brixmor Property Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total value of $127,250.00. Following the completion of the transaction, the director now directly owns 46,291 shares of the company’s stock, valued at $1,178,105.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.76% of the company’s stock.

About Brixmor Property Group

(Get Free Report)

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.

See Also

Dividend History for Brixmor Property Group (NYSE:BRX)

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