Brixmor Property Group Inc (NYSE:BRX) declared a quarterly dividend on Tuesday, February 13th, Wall Street Journal reports. Shareholders of record on Thursday, April 5th will be given a dividend of 0.275 per share by the real estate investment trust on Monday, April 16th. This represents a $1.10 annualized dividend and a yield of 7.44%. The ex-dividend date of this dividend is Wednesday, April 4th.
Brixmor Property Group has raised its dividend payment by an average of 12.7% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Brixmor Property Group has a payout ratio of 52.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Brixmor Property Group to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 53.4%.
NYSE:BRX opened at $14.79 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.95. Brixmor Property Group has a twelve month low of $13.74 and a twelve month high of $22.02. The stock has a market cap of $4,436.49, a price-to-earnings ratio of 7.08, a price-to-earnings-growth ratio of 1.81 and a beta of 0.39.
Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, February 12th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.27). Brixmor Property Group had a net margin of 23.40% and a return on equity of 10.30%. The business had revenue of $320.06 million for the quarter, compared to analysts’ expectations of $312.97 million. During the same quarter last year, the business posted $0.53 earnings per share. The business’s revenue was down 1.2% compared to the same quarter last year. research analysts forecast that Brixmor Property Group will post 2 EPS for the current year.
In related news, EVP Mark Horgan bought 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were acquired at an average cost of $14.94 per share, with a total value of $67,230.00. Following the completion of the transaction, the executive vice president now owns 62,769 shares of the company’s stock, valued at $937,768.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James M. Taylor, Jr. purchased 7,500 shares of Brixmor Property Group stock in a transaction on Tuesday, March 13th. The shares were acquired at an average cost of $15.55 per share, for a total transaction of $116,625.00. Following the completion of the transaction, the chief executive officer now owns 216,884 shares of the company’s stock, valued at $3,372,546.20. The disclosure for this purchase can be found here. Insiders purchased 12,750 shares of company stock worth $195,495 over the last three months. Corporate insiders own 0.33% of the company’s stock.
Several research firms have issued reports on BRX. Citigroup raised shares of Brixmor Property Group to an “overweight” rating and raised their price target for the stock from $19.00 to $21.00 in a research note on Wednesday, January 3rd. They noted that the move was a valuation call. ValuEngine cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Mitsubishi UFJ Financial Group raised shares of Brixmor Property Group from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 3rd. SunTrust Banks set a $19.00 price target on shares of Brixmor Property Group and gave the stock a “buy” rating in a research note on Monday, January 22nd. Finally, Barclays decreased their price target on shares of Brixmor Property Group from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.40.
Brixmor Property Group Company Profile
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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