Brixmor Property Group (NYSE:BRX) Issues Earnings Results

Brixmor Property Group (NYSE:BRX) issued its earnings results on Monday. The real estate investment trust reported $0.23 earnings per share (EPS) 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 analysts’ expectations of $317.75 million. During the same period last year, the business posted $0.52 earnings per share. The company’s quarterly 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 Price Performance

Shares of NYSE BRX traded down $0.59 during trading on Wednesday, reaching $25.79. The company had a trading volume of 1,107,909 shares, compared to its average volume of 2,353,566. Brixmor Property Group has a 52 week low of $19.46 and a 52 week high of $26.41. The stock has a market cap of $7.77 billion, a PE ratio of 27.66, a PEG ratio of 4.32 and a beta of 1.57. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.45 and a current ratio of 1.45. The business’s 50 day moving average price is $22.96 and its 200-day moving average price is $22.60.

Brixmor Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Wednesday, October 2nd. Brixmor Property Group’s dividend payout ratio is presently 117.21%.

Analyst Ratings Changes

Several research firms recently issued reports on BRX. JPMorgan Chase & Co. raised their price objective on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday. Compass Point lifted their price target on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company reduced their target price on shares of Brixmor Property Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 28th. StockNews.com lowered shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Stifel Nicolaus boosted their price target on shares of Brixmor Property Group from $24.00 to $25.50 and gave the stock a “hold” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.55.

Insiders Place Their Bets

In related news, insider Steven F. Siegel sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the sale, the insider now directly owns 360,004 shares of the company’s stock, valued at $8,640,096. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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.