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

Brixmor Property Group Inc. (NYSE:BRX) declared a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date of this dividend is Tuesday, July 2nd.

Brixmor Property Group has raised its dividend payment by an average of 22.2% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Brixmor Property Group has a dividend payout ratio of 116.0% indicating that 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 Stock Performance

BRX traded down $0.05 during mid-day trading on Tuesday, reaching $22.10. 3,719,866 shares of the company traded hands, compared to its average volume of 2,575,753. Brixmor Property Group has a 52-week low of $19.40 and a 52-week high of $24.47. The company’s fifty day moving average price is $22.33 and its 200-day moving average price is $22.21. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $6.66 billion, a P/E ratio of 21.93, a P/E/G ratio of 2.62 and a beta of 1.53.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data on Monday, April 29th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.22). Brixmor Property Group had a net margin of 24.50% and a return on equity of 10.63%. The company had revenue of $320.24 million for the quarter, compared to the consensus estimate of $314.82 million. During the same period last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, sell-side analysts expect that Brixmor Property Group will post 2.09 EPS for the current year.

Insider Buying and Selling at Brixmor Property Group

In other news, insider Brian T. Finnegan sold 7,500 shares of Brixmor Property Group stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $23.00, for a total value of $172,500.00. Following the sale, the insider now owns 225,051 shares in the company, valued at $5,176,173. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Brixmor Property Group news, Director Michael B. Berman sold 10,475 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total value of $239,039.50. Following the transaction, the director now directly owns 40,556 shares in the company, valued at approximately $925,487.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian T. Finnegan sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were 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 directly owns 225,051 shares in the company, valued at $5,176,173. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BRX has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Brixmor Property Group in a research report on Tuesday, January 30th. They issued a “buy” rating and a $27.00 price objective on the stock. The Goldman Sachs Group reduced their target price on shares of Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, March 27th. Mizuho reaffirmed a “neutral” rating and set a $24.00 target price (up from $23.00) on shares of Brixmor Property Group in a research report on Friday, February 23rd. Stifel Nicolaus raised their target price on shares of 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, Truist Financial reiterated a “buy” rating and set a $25.00 price objective on shares of Brixmor Property Group in a research note on Monday, March 25th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.38.

Brixmor Property Group Company Profile

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.