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I think most REIT's are not in hurry to increase dividend. They want to keep the cash for redevelopment, and to reduce their leverage. In the case of BRX the debt is $5150 M and last quarter EBITDA is $200M cash adjusted is $19, that is debt to EBITDA is 6.75x. So REIT's traditionally sold stocks to fund their development and keep their debt low. However, in the recent past, the interest was so low, and cap rates are also low, pushing REIT's to take more debt.They need to bring the debt down, either they can issue shares or retain the cash generated and use that to fund the equity part of the redevelopment, as the redeveloped properties produce higher returns overtime the debt to EBITDA ratio can come down or pay down debt.So I don't think not just BRX, even KIM is not going to be rushing to raise their dividends from the current level's. This also allows them to increase dividend at healthy clip of 7% ~ 10% over many years.
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