Brixmor Property Group (NYSE:BRX) Posts Earnings Results

Brixmor Property Group (NYSE:BRX) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.29), Yahoo Finance reports. The business had revenue of $315.69 million for the quarter, compared to analyst estimates of $317.75 million. Brixmor Property Group had a return on equity of 9.84% and a net margin of 22.47%. Brixmor Property Group’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. 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 Performance

Shares of BRX stock opened at $24.74 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.86. The company has a market cap of $7.45 billion, a PE ratio of 26.60, a P/E/G ratio of 4.29 and a beta of 1.57. The company’s fifty day simple moving average is $22.87 and its 200-day simple moving average is $22.57. Brixmor Property Group has a 52 week low of $19.46 and a 52 week high of $24.97.

Analyst Upgrades and Downgrades

Several analysts have commented on BRX shares. StockNews.com cut Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Monday. Mizuho lowered their target price on shares of Brixmor Property Group from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, May 23rd. JPMorgan Chase & Co. cut their price target on shares of Brixmor Property Group from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, May 13th. Finally, Wells Fargo & Company lowered their price objective 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. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Brixmor Property Group has a consensus rating of “Moderate Buy” and an average target price of $25.13.

Insider Buying and Selling

In other Brixmor Property Group news, insider Steven F. Siegel sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the transaction, the insider now directly owns 360,004 shares of the company’s stock, valued at $8,640,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is owned by corporate insiders.

About Brixmor Property Group

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.