Brixmor Property Group Inc. (NYSE:BRX) Announces Dividend Increase – $0.29 Per Share

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 paid a dividend of 0.2875 per share by the real estate investment trust on Tuesday, April 15th. This represents a $1.15 dividend on an annualized basis 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 payment by an average of 9.9% annually over the last three years. Brixmor Property Group has a payout ratio of 110.6% 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 $2.22 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

BRX traded up $0.03 during trading hours on Wednesday, hitting $27.24. The stock had a trading volume of 278,520 shares, compared to its average volume of 2,412,522. Brixmor Property Group has a 1 year low of $20.80 and a 1 year high of $30.67. The company’s fifty day simple moving average is $27.23 and its 200 day simple moving average is $27.44. The stock has a market cap of $8.23 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 2.54 and a beta of 1.58. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.85.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on BRX shares. BMO Capital Markets upgraded Brixmor Property Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $30.00 to $33.00 in a research report on Friday, December 6th. Truist Financial increased their price objective on Brixmor Property Group from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Stifel Nicolaus reduced their target price on Brixmor Property Group from $31.75 to $31.25 and set a “hold” rating for the company in a report on Tuesday. Scotiabank upped their price target on Brixmor Property Group from $29.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Monday, November 25th. Finally, Evercore ISI upgraded shares of Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 price objective for the company in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.69.

Insider Activity

In related news, insider Steven F. Siegel sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 owns 315,004 shares in the company, valued at $9,305,218.16. The trade was a 7.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.76% of the company’s stock.

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.