Brixmor Property Group Inc. (NYSE:BRX) to Issue $0.31 Quarterly Dividend

Key Points

• Brixmor Property Group declared a quarterly dividend of $0.3075 per share, payable October 15 to shareholders of record October 2. The dividend implies an annualized yield of approximately 3.8%.
• The REIT has raised its dividend for five consecutive years, but its current 128.1% payout ratio exceeds earnings coverage. Analysts expect improved coverage next year, with an estimated payout ratio of 49.4%.
• BRX shares opened at $32.34, near their 52-week high of $32.86. In its latest quarter, Brixmor reported $0.41 in EPS and $354.82 million in revenue, exceeding analyst expectations.

Brixmor Property Group Inc. (NYSE:BRX - Get Free Report) announced a quarterly dividend on Monday, July 27th. Investors of record on Friday, October 2nd will be paid a dividend of 0.3075 per share by the real estate investment trust on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, October 2nd.

Brixmor Property Group has increased its dividend by an average of 0.2%annually 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 128.1% 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 $2.49 per share next year, which means the company should continue to be able to cover its $1.23 annual dividend with an expected future payout ratio of 49.4%.

Brixmor Property Group Stock Performance

BRX stock opened at $32.34 on Tuesday. The company has a 50-day simple moving average of $31.38 and a 200 day simple moving average of $29.76. The company has a market capitalization of $9.92 billion, a P/E ratio of 22.46, a PEG ratio of 2.72 and a beta of 0.98. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.81. Brixmor Property Group has a fifty-two week low of $24.66 and a fifty-two week high of $32.86.

Brixmor Property Group (NYSE:BRX - Get Free Report) last released its earnings results on Monday, April 27th. The real estate investment trust reported $0.41 EPS for the quarter, beating the consensus estimate of $0.25 by $0.16. Brixmor Property Group had a net margin of 31.99% and a return on equity of 14.85%. The firm had revenue of $354.82 million for the quarter, compared to analysts' expectations of $349.43 million. During the same quarter last year, the company earned $0.56 EPS. Brixmor Property Group's quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that Brixmor Property Group will post 2.36 earnings per share for the current fiscal year.

Brixmor Property Group Company Profile

Brixmor Property Group is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of open-air shopping centers across the United States. The company acquires and leases retail properties that feature everyday, necessity-based tenants such as grocery stores, discount retailers, and service providers. Brixmor's core strategy centers on generating stable, long-term income streams through tenant relationships and targeted property enhancements.

The company's main business activities include proactive leasing, property upkeep and capital improvement projects designed to maximize occupancy and tenant satisfaction.

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