Brixmor Property Group Inc. (NYSE:BRX) to Issue Dividend Increase – $0.29 Per Share

Brixmor Property Group Inc. (NYSE:BRX) declared a quarterly dividend on Tuesday, February 11th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.29.

Brixmor Property Group has increased its dividend payment by an average of 9.9% per year over the last three years. Brixmor Property Group has a payout ratio of 110.6% indicating that 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 $2.22 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 Trading Up 0.1 %

Shares of BRX traded up $0.03 during mid-day trading on Wednesday, reaching $27.24. 278,520 shares of the company were exchanged, compared to its average volume of 2,412,522. The business has a 50 day simple moving average of $27.23 and a two-hundred day simple moving average of $27.44. Brixmor Property Group has a 52 week low of $20.80 and a 52 week high of $30.67. The stock has a market capitalization of $8.23 billion, a PE ratio of 25.24, a PEG ratio of 2.54 and a beta of 1.58. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.53 EPS for the quarter, beating 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%. On average, analysts predict that Brixmor Property Group will post 2.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BRX has been the subject of a number of research reports. Mizuho raised their price target on shares of Brixmor Property Group from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Wells Fargo & Company reduced their target price on Brixmor Property Group from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Stifel Nicolaus decreased their target price on Brixmor Property Group from $31.75 to $31.25 and set a “hold” rating for the company in a research report on Tuesday. KeyCorp increased their price target on Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, BMO Capital Markets upgraded Brixmor Property Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $30.00 to $33.00 in a report on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Brixmor Property Group has an average rating of “Moderate Buy” and a consensus target price of $30.69.

Insider Activity at Brixmor Property Group

In related news, insider Steven F. Siegel sold 25,000 shares of the business’s stock in a transaction dated 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 directly owns 315,004 shares in the company, valued at approximately $9,305,218.16. The trade was a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is currently owned by insiders.

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.