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

Brixmor Property Group Inc. (NYSE:BRX - Get Free Report) announced a quarterly dividend on Monday, October 28th, Zacks reports. Shareholders of record on Friday, January 3rd will be given a dividend of 0.287 per share by the real estate investment trust on Wednesday, January 15th. This represents a $1.15 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Friday, January 3rd. This is a positive change from Brixmor Property Group's previous quarterly dividend of $0.27.

Brixmor Property Group has increased its dividend payment by an average of 22.2% per year over the last three years. Brixmor Property Group has a payout ratio of 112.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Brixmor Property Group to earn $2.19 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 49.8%.

Brixmor Property Group Stock Performance

Shares of BRX traded up $0.12 during mid-day trading on Wednesday, hitting $27.64. The company's stock had a trading volume of 2,513,440 shares, compared to its average volume of 2,288,792. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $8.33 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 4.43 and a beta of 1.57. The stock's 50-day moving average is $27.52 and its two-hundred day moving average is $24.64. Brixmor Property Group has a one year low of $20.02 and a one year high of $28.45.

Brixmor Property Group (NYSE:BRX - Get Free Report) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.21). The firm had revenue of $320.68 million during the quarter, compared to analyst estimates of $320.22 million. Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. As a group, sell-side analysts anticipate that Brixmor Property Group will post 2.13 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BRX shares. Stifel Nicolaus lifted their price target on shares of Brixmor Property Group from $25.50 to $27.50 and gave the company a "hold" rating in a report on Tuesday. Truist Financial boosted their price objective on Brixmor Property Group from $25.00 to $28.00 and gave the stock a "buy" rating in a report on Friday, August 16th. Piper Sandler reaffirmed an "overweight" rating and set a $33.00 price objective (up previously from $30.00) on shares of Brixmor Property Group in a research note on Wednesday, July 31st. KeyCorp increased their price target on Brixmor Property Group from $26.00 to $28.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. Finally, Scotiabank lifted their price target on shares of Brixmor Property Group from $25.00 to $29.00 and gave the company a "sector outperform" rating in a research note on Monday, August 26th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $28.54.

Insider Buying and Selling

In other news, Director Sheryl Maxwell Crosland sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total value of $127,250.00. Following the completion of the sale, the director now directly owns 46,291 shares of the company's stock, valued at $1,178,105.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.76% of the stock is currently owned by corporate insiders.

About Brixmor Property Group

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.