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

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 paid 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 yield of 4.48%. The ex-dividend date is Wednesday, July 2nd.

Brixmor Property Group has increased its dividend by an average of 9.9% annually over the last three years. Brixmor Property Group has a dividend payout ratio of 116.2% 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 $2.33 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 Stock Performance

Shares of BRX stock traded up $0.25 during mid-day trading on Friday, reaching $25.67. 670,572 shares of the company's stock traded hands, compared to its average volume of 2,216,758. Brixmor Property Group has a 12 month low of $21.32 and a 12 month high of $30.67. The firm has a 50 day moving average price of $25.75 and a two-hundred day moving average price of $27.10. The firm has a market capitalization of $7.85 billion, a PE ratio of 23.10, a price-to-earnings-growth ratio of 2.66 and a beta of 1.30. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.16 and a current ratio of 1.16.

Brixmor Property Group (NYSE:BRX - Get Free Report) last posted its quarterly earnings data 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 return on equity of 11.72% and a net margin of 26.40%. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 earnings per share. On average, research analysts forecast that Brixmor Property Group will post 2.22 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BRX shares. Evercore ISI upgraded shares of Brixmor Property Group from an "in-line" rating to an "outperform" rating and set a $31.00 price objective on the stock in a research report on Tuesday, February 11th. Mizuho cut their price target on Brixmor Property Group from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Tuesday, February 25th. Jefferies Financial Group upgraded shares of Brixmor Property Group from a "hold" rating to a "buy" rating and boosted their price target for the stock from $28.00 to $33.00 in a research report on Friday, February 14th. The Goldman Sachs Group dropped their price objective on shares of Brixmor Property Group from $33.00 to $29.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Wells Fargo & Company lowered their price target on shares of Brixmor Property Group from $27.00 to $26.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Brixmor Property Group has a consensus rating of "Moderate Buy" and an average price target of $30.48.

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.