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 paid a dividend of 0.275 per share by the real estate investment trust on Monday, April 16th. This represents a $1.10 dividend on an annualized basis and a yield of 7.41%. The ex-dividend date 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 increased its dividend annually for the last 2 consecutive years. Brixmor Property Group has a payout ratio of 52.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Brixmor Property Group to earn $2.00 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 55.0%.
Shares of Brixmor Property Group (BRX) traded up $0.47 during mid-day trading on Tuesday, reaching $14.85. The company’s stock had a trading volume of 7,720,872 shares, compared to its average volume of 4,286,275. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.96. The stock has a market cap of $4,339.26, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.77 and a beta of 0.35. Brixmor Property Group has a 12 month low of $13.74 and a 12 month high of $24.54.
BRX has been the topic of a number of research reports. Boenning Scattergood restated a “buy” rating and issued a $22.00 price objective on shares of Brixmor Property Group in a report on Tuesday, November 21st. Zacks Investment Research downgraded Brixmor Property Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Stifel Nicolaus began coverage on Brixmor Property Group in a research note on Thursday, November 30th. They issued a “hold” rating and a $19.00 target price for the company. ValuEngine downgraded Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $22.00 target price on shares of Brixmor Property Group in a research note on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $19.38.
Brixmor Property Group declared that its Board of Directors has authorized a share repurchase plan on Tuesday, December 5th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
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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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