Brixmor Property Group Inc Announces Quarterly Dividend of $0.28 (BRX)
Brixmor Property Group Inc (NYSE:BRX) announced a quarterly dividend on Tuesday, February 13th, Wall Street Journal reports. Investors of record on Thursday, April 5th will be paid a dividend of 0.275 per share by the real estate investment trust on Monday, April 16th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date of this dividend is Wednesday, April 4th.
Brixmor Property Group has raised its dividend by an average of 12.7% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Brixmor Property Group has a payout ratio of 52.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Brixmor Property Group to earn $2.05 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 53.7%.
Shares of Brixmor Property Group (NYSE BRX) opened at $14.85 on Wednesday. The company has a market cap of $4,381.64, a P/E ratio of 15.15, a P/E/G ratio of 1.79 and a beta of 0.35. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.70. Brixmor Property Group has a 52 week low of $13.74 and a 52 week high of $24.54.
Brixmor Property Group announced that its Board of Directors has approved a share buyback plan on Tuesday, December 5th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
A number of analysts recently commented on the stock. Citigroup upgraded shares of Brixmor Property Group to an “overweight” rating and upped their price target for the company from $19.00 to $21.00 in a research note on Wednesday, January 3rd. They noted that the move was a valuation call. ValuEngine cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Boenning Scattergood restated a “buy” rating and set a $22.00 price target on shares of Brixmor Property Group in a research note on Tuesday, November 21st. Mizuho restated a “buy” rating and set a $19.50 price target on shares of Brixmor Property Group in a research note on Friday, November 10th. Finally, BMO Capital Markets set a $19.00 price target on shares of Brixmor Property Group and gave the company a “hold” rating in a research note on Tuesday, December 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $19.38.
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Brixmor Property Group Company Profile
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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