Brixmor Property Group Inc. (NYSE:BRX) announces quarterly dividend of $0.27

Brixmor Property Group Inc. (NYSE:BRX – Get Free Report) announced a quarterly dividend on Monday, July 29th, Wall Street Journal reports. Stockholders of record on Wednesday, October 2nd will be given a dividend of 0.2725 per share by the real estate investment trust on Tuesday, October 15th. This represents an annualized dividend of $1.09 and a dividend yield of 3.91%. The ex-dividend date of this dividend is Wednesday, October 2.

Brixmor Property Group has increased its dividend by an average of 22.2% annually over the last three years. Brixmor Property Group has a payout ratio of 112.4%, meaning the company cannot cover its dividends with earnings alone and relies on its balance sheet to cover its dividend payments. Research analysts expect that Brixmor Property Group will earn $2.19 per share next year, which means the company should be able to continue to cover its $1.09 annual dividend with an estimated future payout ratio of 49 .8%.

Brixmor Real Estate Group Price Performance

Shares of BRX stock opened at $27.86 on Tuesday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.50, and a current ratio of 1.50. Brixmor Property Group has a 52-week low of $19.46 and a 52-week high of $28.45. The stock has a market cap of $8.39 billion, a PE ratio of 29.96, a PEG ratio of 4.56 and a beta of 1.57. The stock’s fifty-day moving average is $26.55, and its 200-day moving average is $23.88.

Brixmor Property Group (NYSE:BRX – Get Free Report ) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.29). Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The firm had revenue of $315.69 million for the quarter, compared to analyst estimates of $317.75 million. In the same period last year, the company earned $0.52 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. equities research analysts expect that Brixmor Property Group will post 2.13 EPS for the current fiscal year.

Insider trading at Brixmor Property Group

In other news, insider Steven F. Siegel sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the insider now owns 360,004 shares of the company’s stock, valued at $8,640,096. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In related news, insider Steven F. Siegel sold 10,000 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the transaction, the insider now directly owns 360,004 shares in the company, valued at $8,640,096. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. Also, Director Sheryl Maxwell Crosland sold 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total value of $127,250.00. Following the transaction, the director now owns 46,291 shares of the company’s stock, valued at $1,178,105.95. The disclosure for this sale can be found here. 0.76% of shares are currently owned by insiders.

Analysts on Wall Street are forecasting an increase

Several equities analysts have weighed in on BRX shares. KeyCorp boosted their price target on Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Truist Financial boosted their price target on Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Evercore ISI boosted their price target on Brixmor Property Group from $27.00 to $28.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. StockNews.com lowered Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus boosted their price target on Brixmor Property Group from $24.00 to $25.50 and gave the company a “hold” rating in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Brixmor Property Group currently has a consensus rating of “Moderate Buy” and an average target price of $28.38, according to MarketBeat .

See the latest stock analysis on BRX

About Brixmor Property Group

(Get a free report)

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a national portfolio of high-quality outdoor shopping centers. The 362 retail centers comprise approximately 64 million square meters of retail space in established commercial areas. The Company strives to own and operate shopping centers that reflect Brixmor’s vision of being the hub of the communities we serve and are home to a diverse mix of thriving national, regional and local retailers.

Further reading

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