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

Brixmor Property Group Inc. (NYSE:BRX) declared a quarterly dividend on Monday, July 29th, Wall Street Journal reports. Investors of record on Wednesday, October 2nd will be given a dividend of 0.2725 per share by the real estate investment trust on Tuesday, October 15th. This represents a $1.09 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Wednesday, October 2nd.

Brixmor Property Group has increased its dividend by an average of 22.2% annually over the last three years. Brixmor Property Group has a payout ratio of 114.7% 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 $2.17 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 50.2%.

Brixmor Property Group Stock Up 6.8 %

BRX opened at $26.39 on Wednesday. The company has a fifty day moving average of $22.96 and a two-hundred day moving average of $22.60. The stock has a market capitalization of $7.95 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 4.32 and a beta of 1.57. Brixmor Property Group has a fifty-two week low of $19.46 and a fifty-two week high of $26.41. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.45 and a current ratio of 1.45.

Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.29). The business had revenue of $315.69 million for the quarter, compared to analyst estimates of $317.75 million. Brixmor Property Group had a return on equity of 10.33% and a net margin of 23.45%. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 earnings per share. On average, research analysts expect that Brixmor Property Group will post 2.11 earnings per share for the current year.

Insider Transactions at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel 10,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BRX. Wells Fargo & Company reduced their target price on shares of Brixmor Property Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 28th. StockNews.com downgraded shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Monday. Mizuho lowered their target price on Brixmor Property Group from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, May 23rd. Stifel Nicolaus increased their price target on Brixmor Property Group from $24.00 to $25.50 and gave the company a “hold” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price objective 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. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.31.

About Brixmor Property Group

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.