Brixmor Property Group (NYSE:BRX) Sets New 1-Year High Following Dividend Announcement

Brixmor Property Group Inc. (NYSE:BRX) reached a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $25.24 and last traded at $25.11, with a volume of 200846 shares traded. The stock had previously closed at $24.72.

The newly announced dividend which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.2725 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.22%. Brixmor Property Group’s payout ratio is 117.21%.

Analyst Ratings Changes

A number of research firms recently commented on BRX. Wells Fargo & Company lowered their target price on shares of Brixmor Property Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 28th. JPMorgan Chase & Co. boosted their price objective on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday. Stifel Nicolaus upped their target price on Brixmor Property Group from $24.00 to $25.50 and gave the company a “hold” rating in a research report on Tuesday. Evercore ISI raised Brixmor Property Group to a “hold” rating in a research report on Tuesday. Finally, StockNews.com lowered Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Monday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.55.

Brixmor Property Group Stock Performance

The company has a quick ratio of 1.45, a current ratio of 1.50 and a debt-to-equity ratio of 1.88. The firm has a 50-day moving average of $22.96 and a two-hundred day moving average of $22.60. The company has a market capitalization of $7.78 billion, a PE ratio of 27.39, a PEG ratio of 4.59 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The firm had revenue of $315.69 million during the quarter, compared to analysts’ expectations of $317.75 million. During the same period in the previous year, the firm posted $0.52 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Research analysts anticipate that Brixmor Property Group Inc. will post 2.12 EPS for the current year.

Insider Buying and Selling

In related news, insider Steven F. Siegel 10,000 shares of Brixmor Property Group stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which can be accessed through this link. 0.76% of the stock is currently owned by insiders.

Institutional Trading of Brixmor Property Group

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Brixmor Property Group by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 45,662,863 shares of the real estate investment trust’s stock worth $1,070,794,000 after purchasing an additional 165,572 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Brixmor Property Group by 16.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 14,985,745 shares of the real estate investment trust’s stock valued at $348,718,000 after acquiring an additional 2,067,135 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Brixmor Property Group by 3.7% in the fourth quarter. Wellington Management Group LLP now owns 10,915,844 shares of the real estate investment trust’s stock valued at $254,012,000 after acquiring an additional 394,158 shares in the last quarter. Centersquare Investment Management LLC boosted its stake in shares of Brixmor Property Group by 13.6% in the fourth quarter. Centersquare Investment Management LLC now owns 8,467,936 shares of the real estate investment trust’s stock worth $197,049,000 after acquiring an additional 1,016,209 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Brixmor Property Group during the first quarter worth approximately $124,978,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Brixmor Property Group Company Profile

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.