Brixmor Property Group (NYSE:BRX) Issues Quarterly Earnings Results

Brixmor Property Group (NYSE:BRX) issued its earnings results on Monday. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22), Yahoo Finance reports. The company had revenue of $320.24 million during the quarter, compared to analysts’ expectations of $314.82 million. Brixmor Property Group had a net margin of 24.50% and a return on equity of 10.63%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business posted $0.50 earnings per share. Brixmor Property Group updated its FY24 guidance to $2.08-$2.11 EPS and its FY 2024 guidance to 2.080-2.110 EPS.

Brixmor Property Group Trading Up 1.4 %

Shares of NYSE:BRX traded up $0.32 during midday trading on Tuesday, reaching $22.47. The company’s stock had a trading volume of 273,180 shares, compared to its average volume of 2,532,998. The business has a 50 day moving average price of $22.33 and a 200 day moving average price of $22.21. Brixmor Property Group has a 1 year low of $19.40 and a 1 year high of $24.47. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.53. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.73.

Brixmor Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were issued a dividend of $0.273 per share. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, April 1st. This represents a $1.09 annualized dividend and a dividend yield of 4.86%. Brixmor Property Group’s dividend payout ratio (DPR) is 107.92%.

Insiders Place Their Bets

In other news, insider Brian T. Finnegan sold 7,500 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $23.00, for a total transaction of $172,500.00. Following the completion of the transaction, the insider now owns 225,051 shares of the company’s stock, valued at approximately $5,176,173. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Brixmor Property Group news, insider Brian T. Finnegan sold 7,500 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $23.00, for a total transaction of $172,500.00. Following the transaction, the insider now owns 225,051 shares of the company’s stock, valued at $5,176,173. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael B. Berman sold 10,475 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $22.82, for a total value of $239,039.50. Following the sale, the director now owns 40,556 shares of the company’s stock, valued at $925,487.92. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Mizuho reissued a “neutral” rating and set a $24.00 price objective (up from $23.00) on shares of Brixmor Property Group in a research note on Friday, February 23rd. Truist Financial reaffirmed a “buy” rating and issued a $25.00 target price on shares of Brixmor Property Group in a research note on Monday, March 25th. Stifel Nicolaus increased their target price on Brixmor Property Group from $22.75 to $24.00 and gave the company a “hold” rating in a report on Tuesday, February 13th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Brixmor Property Group in a report on Tuesday, January 30th. They issued a “buy” rating and a $27.00 price target for the company. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.38.

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.