Brixmor Property Group (NYSE:BRX) Issues Earnings Results

Brixmor Property Group (NYSE:BRX) announced its quarterly earnings data on Monday. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.22), Yahoo Finance reports. The company had revenue of $320.24 million for the quarter, compared to analyst estimates of $314.82 million. Brixmor Property Group had a return on equity of 10.63% and a net margin of 24.50%. Brixmor Property Group’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 earnings per share. Brixmor Property Group updated its FY24 guidance to $2.08-$2.11 EPS and its FY 2024 guidance to 2.080-2.110 EPS.

Brixmor Property Group Stock Up 1.4 %

BRX traded up $0.32 on Tuesday, reaching $22.47. 401,344 shares of the company traded hands, compared to its average volume of 2,534,743. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 2.62 and a beta of 1.53. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.58 and a quick ratio of 0.58. The stock’s 50 day moving average price is $22.33 and its 200-day moving average price is $22.21. Brixmor Property Group has a 52-week low of $19.40 and a 52-week high of $24.47.

Brixmor Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd were issued a $0.273 dividend. This represents a $1.09 annualized dividend and a dividend yield of 4.86%. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, April 1st. Brixmor Property Group’s dividend payout ratio (DPR) is presently 107.92%.

Insiders Place Their Bets

In other news, insider Brian T. Finnegan sold 7,500 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.00, for a total transaction of $172,500.00. Following the transaction, the insider now directly owns 225,051 shares in the company, valued at approximately $5,176,173. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Michael B. Berman sold 10,475 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total value of $239,039.50. Following the completion of the sale, the director now directly owns 40,556 shares in the company, valued at $925,487.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian T. Finnegan sold 7,500 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $23.00, for a total value of $172,500.00. Following the transaction, the insider now owns 225,051 shares in the company, valued at $5,176,173. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on BRX shares. Truist Financial restated a “buy” rating and set a $25.00 price objective on shares of Brixmor Property Group in a research note on Monday, March 25th. Deutsche Bank Aktiengesellschaft started coverage on Brixmor Property Group in a research report on Tuesday, January 30th. They issued a “buy” rating and a $27.00 target price on the stock. The Goldman Sachs Group cut their target price on Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Mizuho reissued a “neutral” rating and issued a $24.00 price target (up previously from $23.00) on shares of Brixmor Property Group in a research note on Friday, February 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Brixmor Property Group from $22.75 to $24.00 and gave the company a “hold” rating in a research note on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.38.

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.