Brixmor Property Group Inc. (BRX) to Issue Quarterly Dividend of $0.29 on April 15th

Brixmor Property Group Inc. (NYSE:BRX) announced a quarterly dividend on Tuesday, February 11th,Wall Street Journal reports. Shareholders 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 yield of 4.17%. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.29.

Brixmor Property Group has raised its dividend by an average of 9.9% per year over the last three years. Brixmor Property Group has a 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. 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 Price Performance

Brixmor Property Group stock opened at $27.56 on Thursday. Brixmor Property Group has a 52 week low of $20.80 and a 52 week high of $30.67. The company’s 50 day moving average price is $27.18 and its two-hundred day moving average price is $27.44. The stock has a market cap of $8.32 billion, a P/E ratio of 25.52, a P/E/G 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 issued its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.31. Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. On average, equities analysts predict that Brixmor Property Group will post 2.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BRX has been the subject of several research reports. 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. Wells Fargo & Company reduced their target price on shares of 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. Stifel Nicolaus dropped their price objective on Brixmor Property Group from $31.75 to $31.25 and set a “hold” rating on the stock in a research note on Tuesday. BMO Capital Markets upgraded Brixmor Property Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $30.00 to $33.00 in a research note on Friday, December 6th. Finally, Mizuho lifted their price objective on Brixmor Property Group from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Brixmor Property Group has an average rating of “Moderate Buy” and an average target price of $30.69.

Insider Activity

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 315,004 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.76% of the company’s stock.

About Brixmor Property Group

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.