Brixmor Property Group Inc. (NYSE:BRX) Announces Quarterly Dividend of $0.33

Key Points

• Brixmor Property Group increased its quarterly dividend by 7.3% to $0.33 per share, payable January 15 to shareholders of record January 5. The annualized dividend is $1.32, representing a 4.7% yield.
• The REIT’s current payout ratio is elevated at 128.1%, meaning earnings do not fully cover the dividend; however, analysts expect improved coverage next year with projected earnings of $2.50 per share.
• Brixmor reported quarterly EPS of $0.60, beating estimates by $0.01, while revenue rose 5.5% year over year to $359.6 million. Shares opened at $28.17, near the midpoint of their 52-week range.

Brixmor Property Group Inc. (NYSE:BRX - Get Free Report) declared a quarterly dividend on Monday, October 26th. Shareholders of record on Tuesday, January 5th will be given a dividend of $0.33 per share by the real estate investment trust on Friday, January 15th. This represents a $1.32 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, January 5th. This is a 7.3% increase from Brixmor Property Group's previous quarterly dividend of $0.3075.

Brixmor Property Group has raised its dividend payment by an average of 0.2% per year over the last three years and has raised its dividend annually for the last 5 consecutive 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. Research analysts expect Brixmor Property Group to earn $2.50 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 49.2%.

Brixmor Property Group Stock Up 0.1%

Shares of NYSE BRX opened at $28.17 on Tuesday. The stock has a market cap of $8.64 billion, a PE ratio of 20.12, a PEG ratio of 2.18 and a beta of 0.97. The business has a fifty day moving average of $28.30 and a two-hundred day moving average of $29.46. Brixmor Property Group has a 52-week low of $24.66 and a 52-week high of $32.86. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.82 and a current ratio of 0.82.

Brixmor Property Group (NYSE:BRX - Get Free Report) last posted its earnings results on Monday, October 26th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.01. The business had revenue of $359.60 million for the quarter, compared to analyst estimates of $357.28 million. Brixmor Property Group had a net margin of 30.82% and a return on equity of 14.38%. The firm's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.56 EPS. As a group, equities research analysts expect that Brixmor Property Group will post 2.36 earnings per share for the current fiscal year.

About Brixmor Property Group

Brixmor Property Group Inc NYSE: BRX is a real estate investment trust that owns and operates open-air shopping centers across the United States. Its portfolio is primarily focused on grocery-anchored community and neighborhood centers located in established, densely populated markets.

The company leases retail space to a diverse mix of tenants, including grocery stores, restaurants, service businesses, health and wellness providers, and other essential retailers. Brixmor also manages property operations and pursues redevelopment, re-tenanting, and leasing initiatives designed to enhance the functionality and long-term value of its shopping centers.

Brixmor became a publicly traded company in 2013 after being separated from an ownership structure associated with Blackstone.

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