Brixmor Property Group Inc. (NYSE:BRX) Raises Dividend to $0.33 Per Share

Brixmor Property Group Inc. (NYSE:BRX) declared a quarterly dividend on Monday, October 26th. Shareholders of record on Tuesday, January 5th will be given a dividend of $0.33 per share by the real estate investment trust on Friday, January 15th. This represents a $1.32 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Tuesday, January 5th. This is a 7.3% increase from Brixmor Property Group’s previous quarterly dividend of $0.3075.

Brixmor Property Group has raised its dividend payment by an average of 0.2% annually over the last three years and has increased its dividend every year for the last 5 years. Brixmor Property Group has a payout ratio of 128.1% 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 $2.50 per share next year, which means the company should continue to be able to cover its $1.23 annual dividend with an expected future payout ratio of 49.2%.

Brixmor Property Group Price Performance

Shares of BRX opened at $28.17 on Tuesday. The stock has a 50 day simple moving average of $28.30 and a 200 day simple moving average of $29.46. Brixmor Property Group has a 52-week low of $24.66 and a 52-week high of $32.86. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $8.64 billion, a PE ratio of 20.12, a P/E/G ratio of 2.18 and a beta of 0.97.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Brixmor Property Group had a net margin of 30.82% and a return on equity of 14.38%. The firm had revenue of $359.60 million for the quarter, compared to analyst estimates of $357.28 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. Sell-side analysts predict that Brixmor Property Group will post 2.36 EPS for the current fiscal year.

Brixmor Property Group Company Profile

Brixmor Property Group Inc (NYSE: BRX) is a real estate investment trust that owns and operates open-air shopping centers across the United States. Its portfolio is primarily focused on grocery-anchored community and neighborhood centers located in established, densely populated markets.

The company leases retail space to a diverse mix of tenants, including grocery stores, restaurants, service businesses, health and wellness providers, and other essential retailers. Brixmor also manages property operations and pursues redevelopment, re-tenanting, and leasing initiatives designed to enhance the functionality and long-term value of its shopping centers.

Brixmor became a publicly traded company in 2013 after being separated from an ownership structure associated with Blackstone.