Brixmor Property Group Inc. (NYSE:BRX) to Issue $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 given a dividend of 0.2725 per share by the real estate investment trust on Monday, July 15th. This represents a $1.09 annualized dividend and a yield of 4.93%. The ex-dividend date is Tuesday, July 2nd.

Brixmor Property Group has raised its dividend by an average of 22.2% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Brixmor Property Group has a dividend payout ratio of 116.0% 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 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 Stock Down 0.2 %

Shares of NYSE:BRX opened at $22.10 on Wednesday. The firm has a fifty day moving average price of $22.31 and a two-hundred day moving average price of $22.22. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.58 and a quick ratio of 0.58. Brixmor Property Group has a one year low of $19.40 and a one year high of $24.47. The company has a market cap of $6.66 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 2.67 and a beta of 1.53.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results 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). Brixmor Property Group had a net margin of 22.47% and a return on equity of 9.83%. The firm had revenue of $320.24 million during the quarter, compared to the consensus estimate of $314.82 million. During the same period in the previous year, the business earned $0.50 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts anticipate that Brixmor Property Group will post 2.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Mizuho reissued a “neutral” rating and issued a $24.00 price target (up from $23.00) on shares of Brixmor Property Group in a report on Friday, February 23rd. Truist Financial reissued a “buy” rating and issued a $25.00 price target on shares of Brixmor Property Group in a report on Monday, March 25th. Stifel Nicolaus lifted their price objective on shares of Brixmor Property Group from $22.75 to $24.00 and gave the stock a “hold” rating in a report on Tuesday, February 13th. The Goldman Sachs Group dropped their price objective on shares of Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, March 27th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Brixmor Property Group in a report on Tuesday, January 30th. They set a “buy” rating and a $27.00 price objective for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.38.

Insider Transactions at Brixmor Property Group

In related news, Director Michael B. Berman sold 10,475 shares of Brixmor Property Group stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total value of $239,039.50. Following the transaction, the director now owns 40,556 shares in the company, valued at approximately $925,487.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Brian T. Finnegan sold 7,500 shares of Brixmor Property Group stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.00, for a total value of $172,500.00. Following the transaction, the insider now owns 225,051 shares in the company, valued at approximately $5,176,173. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael B. Berman sold 10,475 shares of Brixmor Property Group stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $22.82, for a total transaction of $239,039.50. Following the completion of the transaction, the director now owns 40,556 shares in the company, valued at approximately $925,487.92. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.

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.