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

Brixmor Property Group Inc. (NYSE:BRX) declared a quarterly dividend on Tuesday, February 11th,Wall Street Journal reports. Stockholders 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 dividend yield of 4.22%. The ex-dividend date of this dividend is Wednesday, April 2nd. This is an increase 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. Equities 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 Stock Performance

NYSE BRX traded up $1.09 during trading hours on Tuesday, reaching $27.27. The company’s stock had a trading volume of 4,403,301 shares, compared to its average volume of 2,498,530. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85. The business has a 50-day simple moving average of $27.28 and a 200 day simple moving average of $27.42. Brixmor Property Group has a 52 week low of $20.80 and a 52 week high of $30.67. The stock has a market cap of $8.24 billion, a PE ratio of 25.25, a PEG ratio of 2.54 and a beta of 1.58.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.31. Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. Equities research analysts predict that Brixmor Property Group will post 2.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total value of $738,500.00. Following the completion of the sale, the insider now directly owns 315,004 shares of the company’s stock, valued at approximately $9,305,218.16. This represents a 7.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BRX. Evercore ISI upgraded shares of Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 price target for the company in a research report on Tuesday. Scotiabank upped their target price 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 cut their price target on Brixmor Property Group from $31.75 to $31.25 and set a “hold” rating on the stock in a report on Tuesday. Wells Fargo & Company reduced their price objective on Brixmor Property Group from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, Mizuho raised their target price on Brixmor Property Group from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Brixmor Property Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.69.

Brixmor Property Group Company Profile

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.