Brixmor Property Group (NYSE:BRX) Announces Quarterly Earnings Results, Misses Expectations By $0.29 EPS

Brixmor Property Group (NYSE:BRX) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29), Yahoo Finance reports. Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.33%. The company had revenue of $315.69 million during the quarter, compared to the consensus estimate of $317.75 million. During the same quarter last year, the company earned $0.52 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. Brixmor Property Group updated its FY24 guidance to $2.11-2.14 EPS and its FY 2024 guidance to 2.110-2.140 EPS.

Brixmor Property Group Stock Down 2.0 %

NYSE BRX traded down $0.53 during trading hours on Wednesday, hitting $25.85. The company’s stock had a trading volume of 703,407 shares, compared to its average volume of 2,350,796. The company has a market capitalization of $7.79 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 4.32 and a beta of 1.57. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.86. Brixmor Property Group has a 52 week low of $19.46 and a 52 week high of $26.41. The company’s 50-day simple moving average is $22.96 and its two-hundred day simple moving average is $22.60.

Brixmor Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.2725 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.09 dividend on an annualized basis and a yield of 4.22%. Brixmor Property Group’s dividend payout ratio (DPR) is presently 117.21%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BRX. JPMorgan Chase & Co. reduced their target price on Brixmor Property Group from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. StockNews.com cut Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Monday. Wells Fargo & Company dropped their price objective on Brixmor Property Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, May 28th. Stifel Nicolaus increased their price target on Brixmor Property Group from $24.00 to $25.50 and gave the stock a “hold” rating in a report on Tuesday. Finally, Compass Point upped their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.35.

Insider Transactions at Brixmor Property Group

In other news, insider Steven F. Siegel 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.76% 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 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.