Brixmor Property Group Inc. (BRX) To Go Ex-Dividend on January 3rd

by · The Markets Daily

Brixmor Property Group Inc. (NYSE:BRX – Get Free Report) declared a quarterly dividend on Monday, October 28th, Zacks reports. Investors of record on Friday, January 3rd will be paid 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 4.18%. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27.

Brixmor Property Group has raised 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% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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

Brixmor Property Group stock traded down $0.04 during midday trading on Wednesday, hitting $27.48. The stock had a trading volume of 674,875 shares, compared to its average volume of 2,279,725. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.88. Brixmor Property Group has a 52-week low of $20.02 and a 52-week high of $28.45. The firm’s fifty day moving average is $27.52 and its two-hundred day moving average is $24.64. The company has a market capitalization of $8.28 billion, a PE ratio of 29.59, a P/E/G ratio of 4.43 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX – Get Free Report) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.21). Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The company had revenue of $320.68 million during the quarter, compared to the consensus estimate of $320.22 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. On average, research analysts forecast that Brixmor Property Group will post 2.13 EPS for the current year.

Insider Buying and Selling at Brixmor Property Group

In other news, Director Sheryl Maxwell Crosland sold 5,000 shares of Brixmor Property Group stock in a transaction dated 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 sale, the director now directly owns 46,291 shares in the company, valued at $1,178,105.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BRX. Piper Sandler reiterated an “overweight” rating and issued a $33.00 price objective (up previously from $30.00) on shares of Brixmor Property Group in a research note on Wednesday, July 31st. StockNews.com cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Evercore ISI upped their target price on shares of Brixmor Property Group from $27.00 to $28.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, The Goldman Sachs Group boosted their price target on shares of Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Brixmor Property Group has an average rating of “Moderate Buy” and a consensus target price of $28.54.

View Our Latest Research Report on Brixmor Property Group

About Brixmor Property Group

(Get Free Report)

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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