Brixmor Property Group Inc. (NYSE:BRX) Plans Quarterly Dividend of $0.29

Brixmor Property Group Inc. (NYSE:BRX) announced a quarterly dividend on Tuesday, February 11th,Wall Street Journal reports. Shareholders of record on Wednesday, April 2nd will be given a dividend of 0.2875 per share by the real estate investment trust on Tuesday, April 15th. This represents a $1.15 annualized dividend and a yield of 4.22%. The ex-dividend date is Wednesday, April 2nd. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.29.

Brixmor Property Group has raised its dividend by an average of 9.9% annually over the last three years. Brixmor Property Group has a dividend payout ratio of 110.6% 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 $2.22 per share next year, which means the company should continue to be able to cover its $1.15 annual dividend with an expected future payout ratio of 51.8%.

Brixmor Property Group Trading Up 4.2 %

Shares of BRX traded up $1.09 during midday trading on Tuesday, hitting $27.27. The stock had a trading volume of 4,403,301 shares, compared to its average volume of 2,498,530. The business has a 50-day simple moving average of $27.28 and a two-hundred day simple moving average of $27.42. The firm has a market cap of $8.24 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 2.54 and a beta of 1.58. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85. Brixmor Property Group has a fifty-two week low of $20.80 and a fifty-two week high of $30.67.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.31. Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%. As a group, equities analysts forecast that Brixmor Property Group will post 2.14 EPS for the current year.

Insider Buying and Selling

In related news, insider Steven F. Siegel sold 25,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total transaction of $738,500.00. Following the completion of the transaction, the insider now directly owns 315,004 shares in the company, valued at $9,305,218.16. This represents a 7.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BRX. Mizuho lifted their price target on Brixmor Property Group from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Evercore ISI raised Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 target price on the stock in a research note on Tuesday. Scotiabank increased their price target on shares of Brixmor Property Group from $29.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Monday, November 25th. Stifel Nicolaus decreased their price target on shares of Brixmor Property Group from $31.75 to $31.25 and set a “hold” rating for the company in a report on Tuesday. Finally, BMO Capital Markets upgraded shares of Brixmor Property Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $30.00 to $33.00 in a research note on Friday, December 6th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.69.

About Brixmor Property Group

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.