Brixmor Property Group Inc. (BRX) To Go Ex-Dividend on October 2nd

Brixmor Property Group Inc. (NYSE:BRX) declared a quarterly dividend on Monday, July 29th, Wall Street Journal reports. Shareholders of record on Wednesday, October 2nd will be given a dividend of 0.2725 per share by the real estate investment trust on Tuesday, October 15th. This represents a $1.09 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Wednesday, October 2nd.

Brixmor Property Group has increased its dividend 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. Equities 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 Trading Up 0.1 %

NYSE BRX opened at $27.40 on Monday. Brixmor Property Group has a twelve month low of $19.46 and a twelve month high of $28.45. 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 stock has a market cap of $8.26 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 4.56 and a beta of 1.57. The firm’s 50 day moving average price is $26.49 and its two-hundred day moving average price is $23.84.

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 for the quarter, missing the consensus estimate of $0.52 by ($0.29). The firm had revenue of $315.69 million for the quarter, compared to analysts’ expectations of $317.75 million. Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Equities analysts anticipate that Brixmor Property Group will post 2.13 EPS for the current year.

Analysts Set New Price Targets

BRX has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on shares of Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Truist Financial lifted their target price on shares of Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI lifted their price objective on shares of Brixmor Property Group from $27.00 to $28.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Brixmor Property Group presently has a consensus rating of “Moderate Buy” and an average price target of $28.38.

Insiders Place Their Bets

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total transaction of $127,250.00. Following the completion of the transaction, the director now owns 46,291 shares of the company’s stock, valued at approximately $1,178,105.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total transaction of $127,250.00. Following the completion of the transaction, the director now owns 46,291 shares of the company’s stock, valued at approximately $1,178,105.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven F. Siegel sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the transaction, the insider now directly owns 360,004 shares of the company’s stock, valued at approximately $8,640,096. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.

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.