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

Brixmor Property Group Inc. (NYSE:BRX - Get Free Report) declared a quarterly dividend on Tuesday, February 11th,Wall Street Journal reports. Stockholders of record on Wednesday, April 2nd will be paid a dividend of 0.2875 per share by the real estate investment trust on Tuesday, April 15th. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Wednesday, April 2nd. This is a positive change from Brixmor Property Group's previous quarterly dividend of $0.29.

Brixmor Property Group has raised its dividend payment by an average of 9.9% annually over the last three years. Brixmor Property Group has a payout ratio of 111.7% meaning 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 $2.22 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 51.8%.

Brixmor Property Group Stock Performance

Shares of Brixmor Property Group stock traded down $0.45 on Friday, reaching $27.68. 3,537,127 shares of the stock were exchanged, compared to its average volume of 2,297,659. Brixmor Property Group has a 1-year low of $20.80 and a 1-year high of $30.67. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85. The business has a fifty day moving average price of $27.12 and a two-hundred day moving average price of $27.47. The firm has a market capitalization of $8.36 billion, a PE ratio of 25.63, a PEG ratio of 2.54 and a beta of 1.58.

Brixmor Property Group (NYSE:BRX - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.31. Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%. As a group, research analysts anticipate that Brixmor Property Group will post 2.14 earnings per share for the current fiscal year.

Insider Activity at Brixmor Property Group

In related news, insider Steven F. Siegel sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total transaction of $738,500.00. Following the transaction, the insider now owns 315,004 shares of the company's stock, valued at approximately $9,305,218.16. This represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BRX shares. Stifel Nicolaus lowered their target price on shares of Brixmor Property Group from $31.75 to $31.25 and set a "hold" rating on the stock in a research report on Tuesday. Evercore ISI upgraded shares of Brixmor Property Group from an "in-line" rating to an "outperform" rating and set a $31.00 target price on the stock in a research report on Tuesday. Truist Financial upped their target price on shares of Brixmor Property Group from $28.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. BMO Capital Markets upgraded shares of Brixmor Property Group from a "market perform" rating to an "outperform" rating and increased their price target for the company from $30.00 to $33.00 in a research report on Friday, December 6th. Finally, Scotiabank increased their price target on shares of Brixmor Property Group from $29.00 to $32.00 and gave the company a "sector outperform" rating in a research report on Monday, November 25th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $30.87.

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.