Brixmor Property Group (NYSE:BRX) Issues 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 2.130-2.150 for the period, compared to the consensus estimate of 2.130. The company issued revenue guidance of -. Brixmor Property Group also updated its FY24 guidance to $2.13-$2.15 EPS.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BRX. Truist Financial lifted their price target on Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 16th. The Goldman Sachs Group boosted their target price on shares of Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company raised their price target on shares of Brixmor Property Group from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Scotiabank lifted their price objective on shares of Brixmor Property Group from $25.00 to $29.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Finally, KeyCorp increased their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Brixmor Property Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.54.

Brixmor Property Group Stock Performance

Brixmor Property Group stock traded up $0.10 during midday trading on Wednesday, hitting $27.62. 937,813 shares of the company were exchanged, compared to its average volume of 2,281,117. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.50 and a current ratio of 1.50. Brixmor Property Group has a fifty-two week low of $20.02 and a fifty-two week high of $28.45. The business has a fifty day simple moving average of $27.52 and a two-hundred day simple moving average of $24.64. The firm has a market capitalization of $8.32 billion, a PE ratio of 29.59, a price-to-earnings-growth ratio of 4.43 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The business had revenue of $320.68 million during the quarter, compared to analyst estimates of $320.22 million. During the same period in the previous year, the company posted $0.50 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, sell-side analysts forecast that Brixmor Property Group will post 2.13 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be issued a $0.287 dividend. This represents a $1.15 annualized dividend and a yield of 4.16%. The ex-dividend date is Friday, January 3rd. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s payout ratio is presently 117.20%.

Insider Buying and Selling at Brixmor Property Group

In other news, Director Sheryl Maxwell Crosland sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total transaction of $127,250.00. Following the completion of the sale, the director now owns 46,291 shares of the company’s stock, valued at $1,178,105.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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.