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Brixmor Property Group

NYSE:BRX
Snowflake Description

Proven track record average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BRX
NYSE
$5B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. The last earnings update was 26 days ago. More info.


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BRX Share Price and Events
7 Day Returns
-0.6%
NYSE:BRX
-0.3%
US REITs
-2.1%
US Market
1 Year Returns
18.4%
NYSE:BRX
13.8%
US REITs
1.3%
US Market
BRX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Brixmor Property Group (BRX) -0.6% 1% 2.2% 18.4% -28.5% -17.1%
US REITs -0.3% 2.4% 3.2% 13.8% 11.3% 25.6%
US Market -2.1% -4.2% 0% 1.3% 33.5% 38%
1 Year Return vs Industry and Market
  • BRX outperformed the REITs industry which returned 13.8% over the past year.
  • BRX outperformed the Market in United States of America which returned 1.3% over the past year.
Price Volatility
BRX
Industry
5yr Volatility vs Market

Value

 Is Brixmor Property Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Brixmor Property Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Brixmor Property Group.

NYSE:BRX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:BRX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.529 (1 + (1- 21%) (91.77%))
0.942
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.942 * 5.96%)
8.34%

Discounted Cash Flow Calculation for NYSE:BRX using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Brixmor Property Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Brixmor Property Group is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:BRX DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 8.34%)
2019 428.71 Analyst x5 395.69
2020 445.58 Analyst x5 379.60
2021 468.25 Analyst x2 368.20
2022 492.30 Analyst x1 357.30
2023 519.10 Analyst x1 347.74
2024 541.83 Est @ 4.38% 335.02
2025 562.88 Est @ 3.88% 321.23
2026 582.79 Est @ 3.54% 306.99
2027 602.00 Est @ 3.3% 292.69
2028 620.82 Est @ 3.13% 278.59
Present value of next 10 years cash flows $3,383.05
NYSE:BRX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $620.82 × (1 + 2.73%) ÷ (8.34% – 2.73%)
$11,363.16
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $11,363.16 ÷ (1 + 8.34%)10
$5,099.26
NYSE:BRX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,383.05 + $5,099.26
$8,482.32
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $8,482.32 / 297.99
$28.47
NYSE:BRX Discount to Share Price
Calculation Result
Value per share (USD) From above. $28.47
Current discount Discount to share price of $18.02
= -1 x ($18.02 - $28.47) / $28.47
36.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Brixmor Property Group is available for.
Intrinsic value
37%
Share price is $18.02 vs Future cash flow value of $28.47
Current Discount Checks
For Brixmor Property Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Brixmor Property Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Brixmor Property Group's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Brixmor Property Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Brixmor Property Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:BRX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.22
NYSE:BRX Share Price ** NYSE (2019-05-24) in USD $18.02
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.62x
United States of America Market PE Ratio Median Figure of 3,082 Publicly-Listed Companies 17.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Brixmor Property Group.

NYSE:BRX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:BRX Share Price ÷ EPS (both in USD)

= 18.02 ÷ 1.22

14.73x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Brixmor Property Group is good value based on earnings compared to the US REITs industry average.
  • Brixmor Property Group is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Brixmor Property Group's expected growth come at a high price?
Raw Data
NYSE:BRX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.73x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
-0.1%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.39x
United States of America Market PEG Ratio Median Figure of 2,120 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

NYSE:BRX PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.73x ÷ -0.1%

-275.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Brixmor Property Group earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Brixmor Property Group's assets?
Raw Data
NYSE:BRX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $9.37
NYSE:BRX Share Price * NYSE (2019-05-24) in USD $18.02
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,207 Publicly-Listed Companies 1.8x
NYSE:BRX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:BRX Share Price ÷ Book Value per Share (both in USD)

= 18.02 ÷ 9.37

1.92x

* Primary Listing of Brixmor Property Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Brixmor Property Group is overvalued based on assets compared to the US REITs industry average.
X
Value checks
We assess Brixmor Property Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Brixmor Property Group has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Brixmor Property Group expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-0.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Brixmor Property Group expected to grow at an attractive rate?
  • Brixmor Property Group's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Brixmor Property Group's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Brixmor Property Group's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:BRX Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:BRX Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts -0.1%
NYSE:BRX Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 1.8%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:BRX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:BRX Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,277 278 1
2022-12-31 1,221 267 1
2021-12-31 1,206 258 2
2020-12-31 1,177 243 7
2019-12-31 1,157 240 6
NYSE:BRX Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,208 514 368
2018-12-31 1,234 542 366
2018-09-30 1,257 531 358
2018-06-30 1,265 550 295
2018-03-31 1,275 568 290
2017-12-31 1,284 552 300
2017-09-30 1,288 567 323
2017-06-30 1,292 573 297
2017-03-31 1,279 560 287
2016-12-31 1,276 567 275
2016-09-30 1,278 543 238
2016-06-30 1,272 539 234

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Brixmor Property Group's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Brixmor Property Group's revenue is expected to grow by 1.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:BRX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Brixmor Property Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BRX Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 0.93 0.93 0.93 1.00
2022-12-31 0.89 0.89 0.89 1.00
2021-12-31 0.86 0.86 0.86 1.00
2020-12-31 0.85 1.02 0.77 6.00
2019-12-31 0.85 0.94 0.78 5.00
NYSE:BRX Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.22
2018-12-31 1.21
2018-09-30 1.18
2018-06-30 0.97
2018-03-31 0.95
2017-12-31 0.98
2017-09-30 1.06
2017-06-30 0.98
2017-03-31 0.95
2016-12-31 0.91
2016-09-30 0.79
2016-06-30 0.78

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Brixmor Property Group will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Brixmor Property Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Brixmor Property Group has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Brixmor Property Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Brixmor Property Group's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Brixmor Property Group has delivered over 20% year on year earnings growth in the past 5 years.
  • Brixmor Property Group's 1-year earnings growth is less than its 5-year average (27% vs 35.2%)
  • Brixmor Property Group's earnings growth has exceeded the US REITs industry average in the past year (27% vs 16%).
Earnings and Revenue History
Brixmor Property Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Brixmor Property Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:BRX Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,208.30 367.74 104.08
2018-12-31 1,234.34 365.95 103.48
2018-09-30 1,256.75 358.36 97.92
2018-06-30 1,264.79 294.51 97.67
2018-03-31 1,274.74 289.61 100.40
2017-12-31 1,283.56 300.22 97.57
2017-09-30 1,287.66 323.37 96.31
2017-06-30 1,291.84 297.48 98.86
2017-03-31 1,279.03 286.55 99.97
2016-12-31 1,276.25 275.44 101.33
2016-09-30 1,277.74 237.66 104.18
2016-06-30 1,272.20 233.94 101.56
2016-03-31 1,274.24 223.59 98.25
2015-12-31 1,266.44 193.55 107.99
2015-09-30 1,255.51 160.24 103.88
2015-06-30 1,248.94 133.20 102.29
2015-03-31 1,244.74 102.45 102.38
2014-12-31 1,236.97 67.75 91.71
2014-09-30 1,227.19 30.13 126.48
2014-06-30 1,206.95 -14.33 130.76
2014-03-31 1,177.65 -44.25 129.14
2013-12-31 1,147.57 -55.67 131.98
2013-09-30 1,126.65 -59.28 98.13
2013-06-30 1,120.92 -65.87 94.96
2013-03-31 1,116.74 -90.52 98.73
2012-12-31 1,088.94 -112.19 100.48

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Brixmor Property Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Brixmor Property Group used its assets more efficiently than the US REITs industry average last year based on Return on Assets.
  • Brixmor Property Group has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Brixmor Property Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Brixmor Property Group has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Brixmor Property Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Brixmor Property Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Brixmor Property Group's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Brixmor Property Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Brixmor Property Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Brixmor Property Group Company Filings, last reported 1 month ago.

NYSE:BRX Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 2,792.77 4,928.05 13.14
2018-12-31 2,836.10 4,888.43 60.38
2018-09-30 2,874.26 5,106.71 46.98
2018-06-30 2,856.97 5,483.35 82.03
2018-03-31 2,861.58 5,622.11 56.53
2017-12-31 2,908.35 5,676.24 81.36
2017-09-30 2,921.34 5,713.69 50.15
2017-06-30 2,915.75 5,819.95 54.48
2017-03-31 2,921.62 5,924.83 59.88
2016-12-31 2,927.16 5,838.89 73.01
2016-09-30 2,888.53 5,857.45 31.14
2016-06-30 2,901.04 5,967.88 114.27
2016-03-31 2,905.08 6,009.88 105.82
2015-12-31 2,920.30 5,976.70 69.53
2015-09-30 2,931.69 5,975.59 37.98
2015-06-30 2,942.24 6,004.79 42.74
2015-03-31 2,952.72 6,059.26 68.18
2014-12-31 2,980.30 6,026.93 60.60
2014-09-30 3,042.88 6,054.83 92.76
2014-06-30 3,063.89 6,068.64 61.83
2014-03-31 3,092.62 6,097.36 55.70
2013-12-31 3,305.99 6,156.40 113.92
2013-09-30 2,148.48 6,650.24 137.38
2013-06-30 3,076.85 6,409.18 136.19
2013-03-31 2,261.20 6,672.69 106.39
2012-12-31 2,297.82 6,673.80 103.10
  • Brixmor Property Group's level of debt (176.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (197.2% vs 176.5% today).
  • Debt is not well covered by operating cash flow (10.4%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.2x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Brixmor Property Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Brixmor Property Group has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Brixmor Property Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.22%
Current annual income from Brixmor Property Group dividends. Estimated to be 6.42% next year.
If you bought $2,000 of Brixmor Property Group shares you are expected to receive $124 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Brixmor Property Group's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.47%).
  • Brixmor Property Group's dividend is above the markets top 25% of dividend payers in United States of America (3.76%).
Upcoming dividend payment

Purchase Brixmor Property Group before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:BRX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2008 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:BRX Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.12 1.00
2022-12-31 1.12 1.00
2021-12-31 1.17 4.00
2020-12-31 1.18 11.00
2019-12-31 1.13 8.00
NYSE:BRX Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-29 1.120 6.204
2019-02-11 1.120 6.299
2018-10-29 1.120 7.035
2018-04-30 1.100 6.596
2018-02-12 1.100 7.291
2017-10-30 1.100 6.313
2017-07-31 1.040 5.484
2017-05-01 1.040 5.588
2017-02-13 1.040 4.772
2016-10-24 1.040 4.259
2016-07-25 0.980 3.543
2016-02-08 0.980 3.887
2015-10-26 0.980 3.867
2015-04-27 0.900 3.748
2015-02-17 0.900 3.523
2014-10-27 0.900 3.591
2014-08-06 0.800 3.454
2014-05-07 0.800 3.533
2014-02-20 0.800 3.715
2014-02-19 0.800 3.764

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Brixmor Property Group has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Brixmor Property Group only paid a dividend in the past 5 years.
Current Payout to shareholders
What portion of Brixmor Property Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (520.8x coverage).
X
Income/ dividend checks
We assess Brixmor Property Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Brixmor Property Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Brixmor Property Group has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Brixmor Property Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jim Taylor
COMPENSATION $5,050,709
AGE 51
TENURE AS CEO 3 years
CEO Bio

Mr. James M. Taylor Jr., also known as Jim, J.D. has been the Chief Executive Officer and President at Brixmor Property Group Inc. since May 20, 2016. He has several years of experience in the commercial real estate industry. Mr. Taylor served as the Chief Financial Officer, Executive Vice President and Treasurer of Federal Realty Investment Trust since August 15, 2012 until May 19, 2016. He was responsible for sourcing and evaluating business development and strategic opportunities for the Federal Realty Investment Trust and has a deep understanding of the its business strengths and disciplined balance sheet strategy, having worked as a valued partner to the Trust over the last thirteen years. Mr. Taylor served as Senior Managing Director and Head of Real Estate Investment Banking at Eastdil Secured LLC. Prior to Eastdil Secured, he practiced corporate and securities law at Hunton & Williams, with a focus on equity REITs. Mr. Taylor worked as a Senior Accountant for Price Waterhouse in Washington, D.C. He has been a Director of Brixmor Property Group Inc. since June 16, 2016. Mr. Taylor is a member of the Urban Land Institute. He earned a J.D. in 1994 and a B.S. in Commerce in 1988 from University of Virginia.

CEO Compensation
  • Jim's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Jim's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Brixmor Property Group management team in years:

3.7
Average Tenure
42
Average Age
  • The tenure for the Brixmor Property Group management team is about average.
Management Team

Jim Taylor

TITLE
CEO, President & Director
COMPENSATION
$5M
AGE
51
TENURE
3 yrs

Angela Aman

TITLE
Executive VP
COMPENSATION
$2M
AGE
39
TENURE
3 yrs

Mark Horgan

TITLE
Executive VP & Chief Investment Officer
COMPENSATION
$2M
AGE
42
TENURE
3 yrs

Steven Siegel

TITLE
Executive VP
COMPENSATION
$2M
AGE
58
TENURE
12.1 yrs

Brian Finnegan

TITLE
Executive Vice President of Leasing
COMPENSATION
$2M
AGE
37
TENURE
4.5 yrs

Haig Buchakjian

TITLE
Executive Vice President of Operations
TENURE
4.3 yrs

Steven Gallagher

TITLE
Senior VP & Chief Accounting Officer
AGE
36
TENURE
2.2 yrs

Stacy Slater

TITLE
Senior Vice President of Investor Relations & Capital Markets
TENURE
6.3 yrs

Carolyn Singh

TITLE
Executive VP & Chief Talent Officer
AGE
55
TENURE
2.3 yrs

Matthew Berger

TITLE
Regional President of West
TENURE
4.5 yrs
Board of Directors Tenure

Average tenure and age of the Brixmor Property Group board of directors in years:

3.6
Average Tenure
58
Average Age
  • The tenure for the Brixmor Property Group board of directors is about average.
Board of Directors

John Schreiber

TITLE
Chairman
COMPENSATION
$161K
AGE
72
TENURE
5.6 yrs

Jim Taylor

TITLE
CEO, President & Director
COMPENSATION
$5M
AGE
51
TENURE
2.9 yrs

Billy Rahm

TITLE
Presiding Independent Director
COMPENSATION
$160K
AGE
39

Michael Berman

TITLE
Independent Director
COMPENSATION
$165K
AGE
60
TENURE
5.6 yrs

Gaby Greene-Sulzberger

TITLE
Independent Director
COMPENSATION
$170K
AGE
58
TENURE
3.9 yrs

Tad Dickson

TITLE
Independent Director
COMPENSATION
$148K
AGE
63
TENURE
4.1 yrs

Dan Hurwitz

TITLE
Independent Director
COMPENSATION
$153K
AGE
54
TENURE
3.3 yrs

Sheryl Crosland

TITLE
Independent Director
COMPENSATION
$160K
AGE
65
TENURE
2.4 yrs

Julie Bowerman

TITLE
Independent Director
AGE
48
TENURE
0.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Brixmor Property Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Brixmor Property Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Here's What You Should Know About Brixmor Property Group Inc.'s (NYSE:BRX) 6.2% Dividend Yield

Payout ratios Companies (usually) pay dividends out of their earnings. If a company is paying more than it earns, the dividend might have to be cut. As a result, we should always investigate whether a company can afford its dividend, measured as a percentage of a company's net income after tax. Looking at the data, we can see that 61% of Brixmor Property Group's profits were paid out as dividends in the last 12 months. This is a fairly normal payout ratio among most businesses. It allows a higher dividend to be paid to shareholders, but does limit the capital retained in the business - which could be good or bad. Another important check we do is to see if the free cash flow generated is sufficient to pay the dividend. The company paid out 65% of its free cash flow, which is not bad per se, but does start to limit the amount of cash Brixmor Property Group has available to meet other needs. It's positive to see that Brixmor Property Group's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. Is Brixmor Property Group's Balance Sheet Risky? As Brixmor Property Group has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA is a measure of a company's total debt. Net interest cover measures the ability to meet interest payments on debt. Essentially we check that a) a company does not have too much debt, and b) that it can afford to pay the interest. … Conclusion To summarise, shareholders should always check that Brixmor Property Group's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend. … Brixmor Property Group's is paying out more than half its income as dividends, but at least the dividend is covered both by reported earnings and cashflow.

Simply Wall St -

How Many Brixmor Property Group Inc. (NYSE:BRX) Shares Did Insiders Buy, In The Last Year?

But logic dictates you should pay some attention to whether insiders are buying or selling shares. … That means that an insider was happy to buy shares at around the current price of US$17.77 … In this case we're pleased to report that the insider purchases were made at close to current prices.

Simply Wall St -

Is Brixmor Property Group Inc.'s (NYSE:BRX) CEO Salary Justified?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Jim Taylor's Compensation Compare With Similar Sized Companies. … has a market capitalization of US$5.4b, and pays its CEO total annual compensation worth US$5.1m.

Simply Wall St -

A Closer Look At Brixmor Property Group Inc.'s (NYSE:BRX) Impressive ROE

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Brixmor Property Group Inc. … Over the last twelve months Brixmor Property Group has recorded a ROE of 13%. … That means that for every $1 worth of shareholders' equity, it generated $0.13 in profit.

Simply Wall St -

Introducing Brixmor Property Group, The Stock That Dropped 25% In The Last Three Years

Truth be told the share price declined 25% in three years and that return, Dear Reader, falls short of what you could have got from passive investing with an index fund. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Although the share price is down over three years, Brixmor Property Group actually managed to grow EPS by 23% per year in that time.

Simply Wall St -

Is Brixmor Property Group Inc. (NYSE:BRX) A Healthy REIT?

Brixmor Property Group Inc. … real estate investment trust (REIT) based in New York, United States. … View our latest analysis for Brixmor Property Group.

Simply Wall St -

Brixmor Property Group Inc. (NYSE:BRX) Insiders Increased Their Holdings

So shareholders might well want to know whether insiders have been buying or selling shares in Brixmor Property Group Inc. … Brixmor Property Group Insider Transactions Over The Last Year. … In total, Brixmor Property Group insiders bought more than they sold over the last year

Simply Wall St -

Here's What We Think About Brixmor Property Group Inc's (NYSE:BRX) CEO Pay

In 2016 Jim Taylor was appointed CEO of Brixmor Property Group Inc (NYSE:BRX). … At the time of writing our data says that Brixmor Property Group Inc has a market cap of US$4.7b, and is paying total annual CEO compensation of US$5.7m. … We looked at a group of companies with market capitalizations from US$2.0b to US$6.4b, and the median CEO compensation was US$4.9m.

Simply Wall St -

These Factors Make Brixmor Property Group Inc (NYSE:BRX) An Interesting Investment

Attractive stocks have exceptional fundamentals. … In the case of Brixmor Property Group Inc (NYSE:BRX), there's. … that has been a rockstar for income investors, currently trading at an attractive share price

Simply Wall St -

What Can We Expect From Brixmor Property Group Inc's (NYSE:BRX) Earnings Over The Next Year?

Based on Brixmor Property Group Inc's (NYSE:BRX) earnings update in March 2018, … with profits predicted to drop by -16.27% next year … the past 5-year average growth rate of 46.01%.

Simply Wall St -

Company Info

Description

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 422 retail centers comprise approximately 73 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. Brixmor is a proud real estate partner to more than 5,000 retailers including The TJX Companies, The Kroger Co., Publix Super Markets, Wal-Mart, Ross Stores and L.A. Fitness.

Details
Name: Brixmor Property Group Inc.
BRX
Exchange: NYSE
Founded: 2008
$5,369,728,587
297,987,158
Website: http://www.brixmor.com
Address: Brixmor Property Group Inc.
450 Lexington Avenue,
New York,
New York, 10017,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE BRX Common Stock New York Stock Exchange US USD 30. Oct 2013
DB BXR Common Stock Deutsche Boerse AG DE EUR 30. Oct 2013
Number of employees
Current staff
Staff numbers
458
Brixmor Property Group employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/25 00:40
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/20
Last earnings filing: 2019/04/29
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.