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. Shareholders of record on Wednesday, April 2nd will be given a dividend of 0.2875 per share by the real estate investment trust on Tuesday, April 15th. This represents a $1.15 annualized dividend and a dividend yield of 4.17%. 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 increased 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. 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 Price Performance

Shares of Brixmor Property Group stock opened at $27.56 on Thursday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38. Brixmor Property Group has a 52-week low of $20.80 and a 52-week high of $30.67. The company has a fifty day moving average of $27.18 and a 200-day moving average of $27.44. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 25.52, a price-to-earnings-growth ratio of 2.54 and a beta of 1.58.

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 research analysts expect that Brixmor Property Group will post 2.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BRX. Mizuho lifted their target price on shares of Brixmor Property Group from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. BMO Capital Markets raised shares of Brixmor Property Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $30.00 to $33.00 in a report on Friday, December 6th. Scotiabank upped their price objective on shares of Brixmor Property Group from $29.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Monday, November 25th. KeyCorp raised their target price on Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Finally, Truist Financial boosted their price target on Brixmor Property Group from $28.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Brixmor Property Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.69.

Insider Activity at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total transaction of $738,500.00. Following the transaction, the insider now owns 315,004 shares in the company, valued at approximately $9,305,218.16. This represents a 7.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.76% of the stock is currently owned by insiders.

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.