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

Brixmor Property Group (NYSE:BRX) released its quarterly earnings results 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 company had revenue of $315.69 million for the quarter, compared to the consensus estimate of $317.75 million. Brixmor Property Group had a return on equity of 9.84% and a net margin of 22.47%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $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 Price Performance

Shares of BRX stock opened at $25.08 on Tuesday. The stock has a 50 day moving average of $22.87 and a two-hundred day moving average of $22.57. 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 12 month low of $19.46 and a 12 month high of $25.20. The company has a market capitalization of $7.56 billion, a P/E ratio of 26.60, a P/E/G ratio of 4.29 and a beta of 1.57.

Analyst Upgrades and Downgrades

BRX has been the subject of several recent analyst reports. StockNews.com downgraded Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. decreased their target price on Brixmor Property Group from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, May 13th. Mizuho decreased their target price 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, Wells Fargo & Company decreased their target price 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. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.13.

Insiders Place Their Bets

In other Brixmor Property Group news, insider Steven F. Siegel sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the sale, the insider now owns 360,004 shares in the company, valued at approximately $8,640,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

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.