Brixmor Property Group (NYSE:BRX) Updates FY 2024 Earnings Guidance

Brixmor Property Group (NYSE:BRX) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 2.080-2.110 for the period, compared to the consensus estimate of 2.080. The company issued revenue guidance of -. Brixmor Property Group also updated its FY24 guidance to $2.08-$2.11 EPS.

Wall Street Analyst Weigh In

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

Brixmor Property Group Trading Up 0.4 %

NYSE:BRX opened at $22.19 on Thursday. The firm has a market capitalization of $6.69 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 2.66 and a beta of 1.53. Brixmor Property Group has a 12 month low of $19.40 and a 12 month high of $24.47. The business’s 50-day moving average is $22.30 and its two-hundred day moving average is $22.22. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.45 and a quick ratio of 0.58.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22). The firm had revenue of $320.24 million during the quarter, compared to analyst estimates of $314.82 million. Brixmor Property Group had a return on equity of 9.84% and a net margin of 22.47%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.50 EPS. Research analysts predict that Brixmor Property Group will post 2.09 earnings per share for the current fiscal year.

Brixmor Property Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a $0.2725 dividend. The ex-dividend date is Tuesday, July 2nd. This represents a $1.09 annualized dividend and a dividend yield of 4.91%. Brixmor Property Group’s payout ratio is 117.21%.

Insider Buying and Selling

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

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.