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

Brixmor Property Group Inc. (NYSE:BRX) announced a quarterly dividend on Monday, July 29th, Wall Street Journal reports. Stockholders of record on Wednesday, October 2nd will be paid a dividend of 0.2725 per share by the real estate investment trust on Tuesday, October 15th. This represents a $1.09 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend 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 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. Research 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 Price Performance

Shares of BRX stock opened at $27.86 on Tuesday. 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 has a 52 week low of $19.46 and a 52 week high of $28.45. The stock has a market capitalization of $8.39 billion, a PE ratio of 29.96, a PEG ratio of 4.56 and a beta of 1.57. The stock’s fifty day moving average is $26.55 and its 200-day moving average is $23.88.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.29). Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The firm had revenue of $315.69 million for the quarter, compared to analyst estimates of $317.75 million. During the same period last year, the company earned $0.52 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. Equities research analysts expect that Brixmor Property Group will post 2.13 EPS for the current fiscal year.

Insider Transactions at Brixmor Property Group

In other news, insider Steven F. Siegel sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the insider now owns 360,004 shares of the company’s stock, valued at $8,640,096. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Steven F. Siegel sold 10,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the transaction, the insider now directly owns 360,004 shares in the company, valued at $8,640,096. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sheryl Maxwell Crosland sold 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total value of $127,250.00. Following the transaction, the director now owns 46,291 shares of the company’s stock, valued at $1,178,105.95. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BRX shares. KeyCorp increased 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, August 7th. Truist Financial increased 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. Evercore ISI increased their target price on Brixmor Property Group from $27.00 to $28.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. StockNews.com lowered Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus increased their target price on Brixmor Property Group from $24.00 to $25.50 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Brixmor Property Group currently has a consensus rating of “Moderate Buy” and an average target price of $28.38.

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.