Brixmor Property Group Inc. (NYSE:BRX) Declares $0.29 Quarterly Dividend

Brixmor Property Group Inc. (NYSE:BRX - Get Free Report) announced a quarterly dividend on Tuesday, April 29th, Wall Street Journal reports. Investors of record on Wednesday, July 2nd will be given a dividend of 0.2875 per share by the real estate investment trust on Tuesday, July 15th. This represents a $1.15 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Wednesday, July 2nd.

Brixmor Property Group has raised its dividend payment by an average of 9.9% per year over the last three years and has increased its dividend every year for the last 5 years. Brixmor Property Group has a payout ratio of 118.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Brixmor Property Group to earn $2.33 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 49.4%.

Brixmor Property Group Price Performance

BRX traded up $0.26 on Friday, hitting $25.68. 1,698,499 shares of the company's stock traded hands, compared to its average volume of 2,206,996. Brixmor Property Group has a one year low of $21.32 and a one year high of $30.67. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.79. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 2.66 and a beta of 1.25. The company's 50 day simple moving average is $25.72 and its 200-day simple moving average is $27.08.

Brixmor Property Group (NYSE:BRX - Get Free Report) last released its earnings results on Monday, April 28th. The real estate investment trust reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $337.51 million for the quarter, compared to the consensus estimate of $329.81 million. Brixmor Property Group had a net margin of 26.40% and a return on equity of 11.72%. The company's quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.54 earnings per share. As a group, research analysts anticipate that Brixmor Property Group will post 2.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BRX shares. Stifel Nicolaus cut their price objective on Brixmor Property Group from $31.75 to $31.25 and set a "hold" rating for the company in a research report on Tuesday, February 11th. Jefferies Financial Group upgraded Brixmor Property Group from a "hold" rating to a "buy" rating and raised their price target for the company from $28.00 to $33.00 in a report on Friday, February 14th. Wells Fargo & Company decreased their price objective on Brixmor Property Group from $27.00 to $26.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. The Goldman Sachs Group cut their target price on shares of Brixmor Property Group from $33.00 to $29.00 and set a "buy" rating for the company in a report on Thursday. Finally, Mizuho decreased their price target on shares of Brixmor Property Group from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $30.48.

About Brixmor Property Group

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.