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

Key Points

• Brixmor Property Group Inc. announced a quarterly dividend of $0.29 per share, with an annualized total of $1.15 and a dividend yield of 4.37%.
• The company currently has a dividend payout ratio of 119.8%, indicating reliance on its balance sheet for dividend payments, but analysts expect a future payout ratio of 49.4%.
• Brixmor's stock increased by 3.1% during mid-day trading, with a market capitalization of $8.06 billion and an average target price from analysts of $30.14.

Brixmor Property Group Inc. (NYSE:BRX - Get Free Report) announced a quarterly dividend on Tuesday, July 29th, Wall Street Journal reports. Investors of record on Thursday, October 2nd will be given a dividend of 0.2875 per share by the real estate investment trust on Wednesday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Thursday, October 2nd.

Brixmor Property Group has a payout ratio of 119.8% indicating that 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

NYSE:BRX traded down $0.68 during midday trading on Friday, hitting $25.45. The company's stock had a trading volume of 2,148,979 shares, compared to its average volume of 2,440,914. Brixmor Property Group has a fifty-two week low of $22.28 and a fifty-two week high of $30.67. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.74 and a quick ratio of 0.75. The firm has a market cap of $7.79 billion, a P/E ratio of 23.14, a P/E/G ratio of 2.70 and a beta of 1.29. The firm's 50 day moving average is $25.69 and its 200-day moving average is $25.90.

Brixmor Property Group (NYSE:BRX - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. Brixmor Property Group had a net margin of 25.27% and a return on equity of 11.39%. The business had revenue of $339.40 million for the quarter, compared to the consensus estimate of $332.59 million. During the same period in the prior year, the firm earned $0.54 EPS. The business's revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts anticipate that Brixmor Property Group will post 2.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on BRX. Scotiabank lowered their target price on Brixmor Property Group from $30.00 to $29.00 and set a "sector outperform" rating on the stock in a research note on Monday, May 12th. Mizuho raised shares of Brixmor Property Group from a "neutral" rating to an "outperform" rating and set a $29.00 price objective on the stock in a research note on Thursday, July 17th. Stifel Nicolaus cut their target price on shares of Brixmor Property Group from $29.50 to $29.00 and set a "hold" rating for the company in a report on Tuesday. The Goldman Sachs Group lowered their price target on shares of Brixmor Property Group from $33.00 to $29.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, UBS Group started coverage on shares of Brixmor Property Group in a report on Friday, May 30th. They issued a "buy" rating and a $29.00 price objective for the company. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Brixmor Property Group presently has a consensus rating of "Moderate Buy" and an average price target of $30.08.

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.