Brixmor Property Group Inc. (NYSE:BRX) to Issue $0.27 Quarterly Dividend

Brixmor Property Group Inc. (NYSE:BRX - Get Free Report) announced a quarterly dividend on Tuesday, April 30th, Wall Street Journal reports. Stockholders of record on Tuesday, July 2nd will be given a dividend of 0.2725 per share by the real estate investment trust on Monday, July 15th. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date is Tuesday, July 2nd.

Brixmor Property Group has raised its dividend by an average of 22.2% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Brixmor Property Group has a payout ratio of 116.0% 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 analysts expect Brixmor Property Group to earn $2.16 per share next year, which means the company should continue to be able to cover its $1.09 annual dividend with an expected future payout ratio of 50.5%.

Brixmor Property Group Stock Down 0.2 %

Shares of NYSE:BRX traded down $0.05 during trading on Tuesday, hitting $22.10. 3,723,315 shares of the company were exchanged, compared to its average volume of 2,575,794. Brixmor Property Group has a fifty-two week low of $19.40 and a fifty-two week high of $24.47. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 2.62 and a beta of 1.53. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.73. The firm has a fifty day moving average price of $22.33 and a two-hundred day moving average price of $22.21.

Brixmor Property Group (NYSE:BRX - Get Free Report) last released its quarterly earnings data on Monday, April 29th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.22). Brixmor Property Group had a return on equity of 10.63% and a net margin of 24.50%. The firm had revenue of $320.24 million for the quarter, compared to analyst estimates of $314.82 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The firm's revenue for the quarter was up 2.8% on a year-over-year basis. As a group, research analysts anticipate that Brixmor Property Group will post 2.09 earnings per share for the current fiscal year.

Insider Transactions at Brixmor Property Group

In related news, insider Brian T. Finnegan sold 7,500 shares of Brixmor Property Group stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $23.00, for a total value of $172,500.00. Following the transaction, the insider now directly owns 225,051 shares of the company's stock, valued at $5,176,173. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Michael B. Berman sold 10,475 shares of the company's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total transaction of $239,039.50. Following the completion of the transaction, the director now directly owns 40,556 shares in the company, valued at $925,487.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian T. Finnegan sold 7,500 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.00, for a total value of $172,500.00. Following the completion of the transaction, the insider now owns 225,051 shares of the company's stock, valued at $5,176,173. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BRX. The Goldman Sachs Group reduced their price objective on shares of Brixmor Property Group from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft assumed coverage on Brixmor Property Group in a research report on Tuesday, January 30th. They issued a "buy" rating and a $27.00 target price on the stock. Truist Financial reissued a "buy" rating and set a $25.00 price target on shares of Brixmor Property Group in a report on Monday, March 25th. Stifel Nicolaus upped their price target on shares of Brixmor Property Group from $22.75 to $24.00 and gave the company a "hold" rating in a research note on Tuesday, February 13th. Finally, Mizuho reaffirmed a "neutral" rating and set a $24.00 price target (up from $23.00) on shares of Brixmor Property Group in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.38.

Brixmor Property Group Company Profile

Brixmor NYSE: BRX is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 362 retail centers comprise approximately 64 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision to be the center of the communities we serve and are home to a diverse mix of thriving national, regional and local retailers.