Brixmor Property Group Inc. (NYSE:BRX – Get Free Report) declared a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Investors of record on Tuesday, July 2nd will be given a dividend of 0.2725 per share by the real estate investment trust on Monday, July 15th. This represents a $1.09 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Tuesday, July 2nd.
Brixmor Property Group has raised its dividend by an average of 22.2% per year over the last three years. Brixmor Property Group has a dividend payout ratio of 113.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Brixmor Property Group to earn $2.16 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 50.5%.
Brixmor Property Group Trading Up 1.4 %
Shares of BRX stock opened at $23.09 on Friday. Brixmor Property Group has a 12 month low of $19.46 and a 12 month high of $24.47. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.86. The business’s 50 day moving average is $22.22 and its two-hundred day moving average is $22.51. The company has a market cap of $6.96 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 2.75 and a beta of 1.55.
Brixmor Property Group (NYSE:BRX – Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.22). Brixmor Property Group had a net margin of 22.47% and a return on equity of 9.84%. The business had revenue of $320.24 million during the quarter, compared to the consensus estimate of $314.82 million. During the same period in the prior year, the company posted $0.50 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. Equities analysts predict that Brixmor Property Group will post 2.1 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on BRX. Mizuho reduced their price objective on Brixmor Property Group from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, May 23rd. JPMorgan Chase & Co. reduced their price objective on Brixmor Property Group from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. The Goldman Sachs Group reduced their price objective on Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Wells Fargo & Company reduced their target price on Brixmor Property Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 28th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $25.00 target price on shares of Brixmor Property Group in a research report on Monday, March 25th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.13.
Get Our Latest Stock Analysis on Brixmor Property Group
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 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.
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