Brixmor Property Group (NYSE:BRX) Releases 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 2.110-2.140 for the period, compared to the consensus estimate of 2.100. The company issued revenue guidance of -. Brixmor Property Group also updated its FY24 guidance to $2.11-2.14 EPS.

Brixmor Property Group Trading Down 0.2 %

BRX traded down $0.06 during midday trading on Thursday, reaching $25.41. 1,336,290 shares of the company were exchanged, compared to its average volume of 2,365,375. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.45 and a current ratio of 1.50. Brixmor Property Group has a one year low of $19.46 and a one year high of $26.41. The stock has a market capitalization of $7.66 billion, a P/E ratio of 27.45, a PEG ratio of 4.59 and a beta of 1.57. The stock’s 50-day simple moving average is $23.02 and its 200 day simple moving average is $22.62.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The business had revenue of $315.69 million for the quarter, compared to analyst estimates of $317.75 million. During the same period in the prior year, the business earned $0.52 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts forecast that Brixmor Property Group will post 2.12 earnings per share for the current fiscal year.

Brixmor Property Group Announces Dividend

The business 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 $0.2725 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.09 dividend on an annualized basis and a yield of 4.29%. Brixmor Property Group’s dividend payout ratio is 117.21%.

Analysts Set New Price Targets

Several research firms recently issued reports on BRX. Compass Point boosted their price target on Brixmor Property Group from $26.00 to $28.00 and gave the company a buy rating in a research note on Wednesday. Evercore ISI upgraded Brixmor Property Group to a hold rating in a research note on Tuesday. Wells Fargo & Company reduced their price target on 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. Mizuho reduced their price target on Brixmor Property Group from $24.00 to $23.00 and set a neutral rating for the company in a research note on Thursday, May 23rd. Finally, Stifel Nicolaus lifted their price objective on Brixmor Property Group from $24.00 to $25.50 and gave the company a hold rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Brixmor Property Group presently has an average rating of Moderate Buy and an average price target of $26.75.

Insider Transactions at Brixmor Property Group

In other news, insider Steven F. Siegel 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.