Brixmor Property Group (NYSE:BRX) Issues Quarterly Earnings Results, Misses Expectations By $0.22 EPS


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Brixmor Property Group (NYSE:BRX) posted its quarterly earnings data on Sunday. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.22), MarketWatch Earnings reports. The company had revenue of $279.75 million for the quarter, compared to analysts’ expectations of $265.51 million. Brixmor Property Group had a net margin of 14.75% and a return on equity of 6.07%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.46 earnings per share.

Brixmor Property Group stock traded down $0.21 during mid-day trading on Tuesday, hitting $22.09. The company’s stock had a trading volume of 2,313,411 shares, compared to its average volume of 2,460,089. The stock’s fifty day moving average is $20.92 and its two-hundred day moving average is $17.49. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $6.56 billion, a PE ratio of 42.08 and a beta of 1.63. Brixmor Property Group has a 1 year low of $8.70 and a 1 year high of $22.90.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Monday, April 5th were issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, April 1st. Brixmor Property Group’s dividend payout ratio is presently 45.03%.

A number of brokerages recently weighed in on BRX. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $22.00 price target (up from $20.00) on shares of Brixmor Property Group in a research note on Monday, March 15th. Mizuho raised their target price on Brixmor Property Group from $16.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, February 23rd. Truist boosted their price target on Brixmor Property Group from $17.00 to $20.00 in a research report on Friday, March 5th. Bank of America upgraded Brixmor Property Group from a “neutral” rating to a “buy” rating and raised their price objective for the company from $17.00 to $18.50 in a report on Tuesday, January 19th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Brixmor Property Group from $17.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, April 15th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. Brixmor Property Group has a consensus rating of “Hold” and an average target price of $16.23.

In other Brixmor Property Group news, CFO Angela M. Aman sold 7,500 shares of the stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $22.00, for a total transaction of $165,000.00. Following the completion of the transaction, the chief financial officer now owns 102,469 shares of the company’s stock, valued at $2,254,318. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Carolyn Carter Singh sold 5,000 shares of Brixmor Property Group stock in a transaction dated Monday, April 26th. The shares were sold at an average price of $22.00, for a total transaction of $110,000.00. Following the sale, the insider now owns 233,768 shares of the company’s stock, valued at $5,142,896. The disclosure for this sale can be found here. Insiders sold 30,000 shares of company stock worth $636,800 in the last 90 days. Company insiders own 0.44% 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 395 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 we serve" and are home to a diverse mix of thriving national, regional and local retailers.

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Earnings History for Brixmor Property Group (NYSE:BRX)

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