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

Brixmor Property Group Inc. (NYSE:BRX) announced a quarterly dividend on Monday, October 28th, Zacks reports. Stockholders of record on Friday, January 3rd will be paid a dividend of 0.287 per share by the real estate investment trust on Wednesday, January 15th. This represents a $1.15 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27.

Brixmor Property Group has increased its dividend payment by an average of 22.2% per year over the last three years. Brixmor Property Group has a payout ratio of 112.4% meaning 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 Up 0.6 %

Shares of Brixmor Property Group stock traded up $0.16 on Wednesday, hitting $27.68. The company had a trading volume of 414,108 shares, compared to its average volume of 2,278,020. The stock has a market capitalization of $8.34 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 has a 1 year low of $20.02 and a 1 year high of $28.45. The stock has a 50 day moving average of $27.52 and a 200-day moving average of $24.64. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.50 and a current ratio of 1.50.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $320.22 million. During the same quarter last year, the firm posted $0.50 earnings per share. Brixmor Property Group’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Brixmor Property Group will post 2.13 earnings per share for the current year.

Insiders Place Their Bets

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total transaction of $127,250.00. Following the transaction, the director now owns 46,291 shares in the company, valued at approximately $1,178,105.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BRX. Wells Fargo & Company lifted their price target on Brixmor Property Group from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. boosted their target price on Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Truist Financial boosted their target price on Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, August 16th. The Goldman Sachs Group boosted their target price on Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus boosted their target price on Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $28.54.

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.