Boenning Scattergood Analysts Decrease Earnings Estimates for Brixmor Property Group Inc. (BRX)
Brixmor Property Group Inc. (NYSE:BRX) – Equities researchers at Boenning Scattergood dropped their Q4 2018 EPS estimates for shares of Brixmor Property Group in a note issued to investors on Wednesday. Boenning Scattergood analyst F. Van. Dijkum now expects that the real estate investment trust will post earnings per share of $0.55 for the quarter, down from their prior forecast of $0.59. Boenning Scattergood currently has a “Hold” rating on the stock.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research cut Brixmor Property Group from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Barclays PLC lowered their price objective on Brixmor Property Group from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Friday, June 16th. Royal Bank Of Canada restated a “hold” rating and set a $23.00 price objective on shares of Brixmor Property Group in a research report on Monday, June 19th. Citigroup Inc. lowered their price objective on Brixmor Property Group from $26.00 to $20.50 and set a “neutral” rating on the stock in a research report on Tuesday, May 9th. Finally, BidaskClub upgraded Brixmor Property Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.25.
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Shares of Brixmor Property Group (NYSE:BRX) traded down 1.17% during trading on Monday, reaching $19.46. The company had a trading volume of 924,070 shares. The stock has a 50 day moving average price of $18.58 and a 200 day moving average price of $20.68. Brixmor Property Group has a 12 month low of $17.35 and a 12 month high of $29.14. The firm has a market capitalization of $5.93 billion, a PE ratio of 19.94 and a beta of 0.53.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. Brixmor Property Group had a return on equity of 10.22% and a net margin of 23.06%. The firm had revenue of $322.80 million for the quarter, compared to analysts’ expectations of $315.69 million. During the same period last year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Thursday, October 5th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 5.28%. The ex-dividend date is Wednesday, October 4th. Brixmor Property Group’s dividend payout ratio is 106.12%.
In related news, Director John Schreiber purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were acquired at an average price of $18.85 per share, with a total value of $188,500.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $188,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its stake in shares of Brixmor Property Group by 8.4% in the second quarter. Pacer Advisors Inc. now owns 7,129 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 554 shares in the last quarter. Mckinley Capital Management LLC Delaware bought a new stake in shares of Brixmor Property Group during the first quarter valued at approximately $131,000. Mn Services Vermogensbeheer B.V. raised its stake in shares of Brixmor Property Group by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,116 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 341 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of Brixmor Property Group by 17.5% in the second quarter. LS Investment Advisors LLC now owns 9,557 shares of the real estate investment trust’s stock valued at $171,000 after buying an additional 1,420 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Brixmor Property Group by 58.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 9,603 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 3,538 shares in the last quarter.
About Brixmor Property Group
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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