Brixmor Property Group (NYSE:BRX) Reaches New 52-Week High Following Dividend Announcement

Brixmor Property Group Inc. (NYSE:BRX)’s stock price hit a new 52-week high on Tuesday after the company announced a dividend. The company 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. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Wednesday, October 2nd. Brixmor Property Group’s dividend payout ratio (DPR) is presently 117.21%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. StockNews.com cut Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday. Compass Point increased their price target on Brixmor Property Group from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday. Mizuho reduced their price objective on Brixmor Property Group from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, May 23rd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $33.00 target price (up previously from $30.00) on shares of Brixmor Property Group in a research note on Wednesday. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Brixmor Property Group has an average rating of “Moderate Buy” and an average price target of $26.55.

Brixmor Property Group Stock Down 3.4 %

The firm has a fifty day simple moving average of $22.96 and a 200-day simple moving average of $22.60. The company has a market capitalization of $7.68 billion, a PE ratio of 27.39, a P/E/G ratio of 4.59 and a beta of 1.57. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.45 and a current ratio of 1.50.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings results 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). The company had revenue of $315.69 million for the quarter, compared to analyst estimates of $317.75 million. Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. Equities research analysts anticipate that Brixmor Property Group Inc. will post 2.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Brixmor Property Group news, insider Steven F. Siegel 10,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the SEC, which is available through this hyperlink. 0.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brixmor Property Group

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its holdings in shares of Brixmor Property Group by 258.9% during the second quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,007 shares during the period. Quarry LP acquired a new position in shares of Brixmor Property Group in the 4th quarter valued at about $40,000. GAMMA Investing LLC bought a new stake in shares of Brixmor Property Group during the 4th quarter valued at about $45,000. Larson Financial Group LLC acquired a new stake in Brixmor Property Group during the first quarter worth about $47,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in Brixmor Property Group by 50.7% in the first quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 775 shares during the last quarter. 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.