Fintel reports that on May 8, 2023, Piper Sandler maintained coverage of Brixmor Property Group (NYSE:BRX) with a Overweight recommendation.
Analyst Price Forecast Suggests 19.59% Upside
As of April 23, 2023, the average one-year price target for Brixmor Property Group is 25.33. The forecasts range from a low of 21.21 to a high of $30.45. The average price target represents an increase of 19.59% from its latest reported closing price of 21.18.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Brixmor Property Group is 1,264MM, an increase of 2.69%. The projected annual non-GAAP EPS is 1.13.
Brixmor Property Group Declares $0.26 Dividend
On May 1, 2023 the company declared a regular quarterly dividend of $0.26 per share ($1.04 annualized). Shareholders of record as of July 5, 2023 will receive the payment on July 17, 2023. Previously, the company paid $0.26 per share.
At the current share price of $21.18 / share, the stock's dividend yield is 4.91%.
Looking back five years and taking a sample every week, the average dividend yield has been 5.38%, the lowest has been 3.59%, and the highest has been 13.21%. The standard deviation of yields is 1.67 (n=213).
The current dividend yield is 0.28 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.81. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 818 funds or institutions reporting positions in Brixmor Property Group. This is an increase of 13 owner(s) or 1.61% in the last quarter. Average portfolio weight of all funds dedicated to BRX is 0.46%, an increase of 36.15%. Total shares owned by institutions increased in the last three months by 1.68% to 352,506K shares. The put/call ratio of BRX is 0.22, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 16,161K shares representing 5.38% ownership of the company. In it's prior filing, the firm reported owning 18,025K shares, representing a decrease of 11.53%. The firm increased its portfolio allocation in BRX by 3.60% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 13,362K shares representing 4.45% ownership of the company. In it's prior filing, the firm reported owning 13,581K shares, representing a decrease of 1.64%. The firm decreased its portfolio allocation in BRX by 0.50% over the last quarter.
Massachusetts Financial Services holds 12,717K shares representing 4.23% ownership of the company. In it's prior filing, the firm reported owning 12,375K shares, representing an increase of 2.69%. The firm increased its portfolio allocation in BRX by 17.78% over the last quarter.
Jpmorgan Chase holds 12,046K shares representing 4.01% ownership of the company. In it's prior filing, the firm reported owning 12,446K shares, representing a decrease of 3.32%. The firm increased its portfolio allocation in BRX by 9.06% over the last quarter.
Franklin Resources holds 10,665K shares representing 3.55% ownership of the company. In it's prior filing, the firm reported owning 3,843K shares, representing an increase of 63.97%. The firm increased its portfolio allocation in BRX by 224.91% over the last quarter.
Brixmor Property Group Background Information
(This description is provided by the company.)
Brixmor is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 393 retail centers comprise approximately 69 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 it serves' and is home to a diverse mix of thriving national, regional and local retailers. Brixmor is a proud real estate partner to approximately 5,000 retailers including The TJX Companies, The Kroger Co., Publix Super Markets, Wal-Mart, Ross Stores and L.A. Fitness.
This story originally appeared on Fintel.
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