Brixmor Property Group Inc (BRX) to Issue Quarterly Dividend of $0.28 on October 15th

Brixmor Property Group Inc (NYSE:BRX) announced a quarterly dividend on Monday, July 29th, Zacks reports. Shareholders of record on Friday, October 4th will be paid a dividend of 0.28 per share by the real estate investment trust on Tuesday, October 15th. This represents a $1.12 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date is Thursday, October 3rd.

Brixmor Property Group has raised its dividend payment by an average of 6.9% per year 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 56.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Brixmor Property Group to earn $1.96 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 57.1%.

Shares of NYSE:BRX traded up $0.18 during mid-day trading on Wednesday, reaching $18.91. 792,986 shares of the stock were exchanged, compared to its average volume of 2,389,616. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $5.46 billion, a P/E ratio of 10.22, a P/E/G ratio of 2.15 and a beta of 0.74. Brixmor Property Group has a one year low of $14.11 and a one year high of $18.75. The business’s 50 day moving average price is $18.17.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.24). Brixmor Property Group had a return on equity of 12.96% and a net margin of 30.47%. The firm had revenue of $291.00 million for the quarter, compared to the consensus estimate of $286.99 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, research analysts forecast that Brixmor Property Group will post 1.9 EPS for the current fiscal year.

A number of analysts recently commented on the company. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Stifel Nicolaus boosted their target price on Western Digital from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Zacks Investment Research raised Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Tuesday, July 16th. KeyCorp set a $20.00 target price on Brixmor Property Group and gave the company a “buy” rating in a research report on Wednesday, June 19th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $17.00 target price on shares of Brixmor Property Group in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $18.89.

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 425 retail centers comprise approximately 74 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.

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Dividend History for Brixmor Property Group (NYSE:BRX)

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