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

Brixmor Property Group Inc. (NYSE:BRX) declared a quarterly dividend on Monday, July 29th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Wednesday, October 2nd.

Brixmor Property Group has raised 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. Equities 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 Trading Up 6.8 %

NYSE BRX opened at $26.39 on Wednesday. The firm has a market capitalization of $7.95 billion, a PE ratio of 28.38, a P/E/G ratio of 4.32 and a beta of 1.57. The stock’s 50 day moving average is $22.96 and its 200 day moving average is $22.60. Brixmor Property Group has a twelve month low of $19.46 and a twelve month high of $26.41. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.86.

Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The business had revenue of $315.69 million for the quarter, compared to the consensus estimate of $317.75 million. Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.33%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. Research analysts forecast that Brixmor Property Group will post 2.11 earnings per share for the current fiscal year.

Insider Activity at Brixmor Property Group

In other news, insider Steven F. Siegel 10,000 shares of Brixmor Property Group stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which is available at the SEC website. 0.76% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BRX shares. Wells Fargo & Company cut their price objective on shares of Brixmor Property Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 28th. Stifel Nicolaus raised their price objective on Brixmor Property Group from $24.00 to $25.50 and gave the company a “hold” rating in a research report on Tuesday. StockNews.com downgraded Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. reduced their price target on Brixmor Property Group from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, May 13th. Finally, Mizuho lowered their price target on Brixmor Property Group from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, May 23rd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.31.

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.