Brixmor Property Group Inc. (BRX) to Issue Quarterly Dividend of $0.27 on July 15th

Brixmor Property Group Inc. (NYSE:BRX) declared a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Stockholders of record on Tuesday, July 2nd will be paid a dividend of 0.2725 per share by the real estate investment trust on Monday, July 15th. This represents a $1.09 annualized dividend and a dividend yield of 4.93%. The ex-dividend date is Tuesday, July 2nd.

Brixmor Property Group has increased its dividend payment by an average of 22.2% per year over the last three years and has increased its dividend every year for the last 3 years. Brixmor Property Group has a dividend payout ratio of 116.0% 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 $2.16 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 50.5%.

Brixmor Property Group Price Performance

Shares of NYSE BRX opened at $22.10 on Wednesday. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 2.67 and a beta of 1.53. The business has a 50-day moving average of $22.31 and a 200-day moving average of $22.22. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.58 and a quick ratio of 0.58. Brixmor Property Group has a fifty-two week low of $19.40 and a fifty-two week high of $24.47.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.22). The company had revenue of $320.24 million during the quarter, compared to the consensus estimate of $314.82 million. Brixmor Property Group had a net margin of 22.47% and a return on equity of 9.83%. Brixmor Property Group’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 EPS. As a group, sell-side analysts predict that Brixmor Property Group will post 2.09 earnings per share for the current fiscal year.

Insider Transactions at Brixmor Property Group

In other news, insider Brian T. Finnegan sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $23.00, for a total transaction of $172,500.00. Following the completion of the sale, the insider now owns 225,051 shares in the company, valued at $5,176,173. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Brian T. Finnegan sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $23.00, for a total transaction of $172,500.00. Following the completion of the sale, the insider now owns 225,051 shares in the company, valued at $5,176,173. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael B. Berman sold 10,475 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $22.82, for a total value of $239,039.50. Following the sale, the director now owns 40,556 shares of the company’s stock, valued at approximately $925,487.92. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BRX shares. Truist Financial restated a “buy” rating and issued a $25.00 price objective on shares of Brixmor Property Group in a report on Monday, March 25th. The Goldman Sachs Group cut their target price on shares of Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft started coverage on Brixmor Property Group in a research report on Tuesday, January 30th. They set a “buy” rating and a $27.00 price target on the stock. Stifel Nicolaus boosted their price target on Brixmor Property Group from $22.75 to $24.00 and gave the stock a “hold” rating in a research report on Tuesday, February 13th. Finally, Mizuho reissued a “neutral” rating and set a $24.00 price target (up previously from $23.00) on shares of Brixmor Property Group in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.38.

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.