Brixmor Property Group (NYSE:BRX) Announces Earnings Results

Brixmor Property Group (NYSE:BRX) posted its earnings results on Monday. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21), Zacks reports. The firm had revenue of $320.68 million for the quarter, compared to analyst estimates of $320.22 million. Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 earnings per share. Brixmor Property Group updated its FY24 guidance to $2.13-$2.15 EPS and its FY 2024 guidance to 2.130-2.150 EPS.

Brixmor Property Group Trading Up 0.4 %

Shares of BRX stock traded up $0.12 during trading hours on Wednesday, reaching $27.64. 2,513,440 shares of the stock traded hands, compared to its average volume of 2,288,792. Brixmor Property Group has a 1-year low of $20.02 and a 1-year high of $28.45. The business has a fifty day moving average price of $27.52 and a 200 day moving average price of $24.64. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.88. The firm has a market capitalization of $8.33 billion, a PE ratio of 29.70, a PEG ratio of 4.43 and a beta of 1.57.

Brixmor Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.287 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.15%. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s payout ratio is currently 117.20%.

Insider Activity

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total value of $127,250.00. Following the transaction, the director now owns 46,291 shares in the company, valued at approximately $1,178,105.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on BRX shares. Stifel Nicolaus boosted their target price on shares of Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a research note on Tuesday. Mizuho upped their price target on shares of Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Scotiabank upped their price target on shares of Brixmor Property Group from $25.00 to $29.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. StockNews.com lowered shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI upped their price target on shares of Brixmor Property Group from $27.00 to $28.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.54.

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.