Brixmor Property Group Inc. (NYSE:BRX) declared a quarterly dividend on Tuesday, August 1st, Wall Street Journal reports. Shareholders of record on Thursday, October 5th will be given a dividend of 0.26 per share by the real estate investment trust on Monday, October 16th. This represents a $1.04 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date of this dividend is Wednesday, October 4th.
Brixmor Property Group has a dividend payout ratio of 49.5% indicating that its dividend is sufficiently covered by earnings. 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 $1.04 annual dividend with an expected future payout ratio of 48.1%.
Shares of Brixmor Property Group (NYSE BRX) traded down 0.51% during trading on Friday, hitting $19.53. 2,361,904 shares of the company’s stock were exchanged. Brixmor Property Group has a 1-year low of $17.35 and a 1-year high of $29.14. The stock has a market cap of $5.96 billion, a PE ratio of 20.01 and a beta of 0.53. The stock’s 50-day moving average price is $18.82 and its 200-day moving average price is $20.48.
Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. Brixmor Property Group had a net margin of 23.06% and a return on equity of 10.22%. The company had revenue of $322.80 million for the quarter, compared to the consensus estimate of $315.69 million. During the same period last year, the company posted $0.50 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, equities analysts expect that Brixmor Property Group will post $0.88 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on BRX. Royal Bank Of Canada restated a “hold” rating and issued a $23.00 price target on shares of Brixmor Property Group in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Brixmor Property Group from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Barclays PLC reduced their price target on shares of Brixmor Property Group from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. Boenning Scattergood restated a “hold” rating on shares of Brixmor Property Group in a research note on Wednesday, August 2nd. Finally, ValuEngine downgraded shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Brixmor Property Group has a consensus rating of “Hold” and a consensus price target of $26.25.
About Brixmor Property Group
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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