Brixmor Property Group (NYSE:BRX) Releases FY 2024 Earnings Guidance

Brixmor Property Group (NYSE:BRX) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 2.080-2.110 for the period, compared to the consensus EPS estimate of 2.080. The company issued revenue guidance of -. Brixmor Property Group also updated its FY24 guidance to $2.08-$2.11 EPS.

Analyst Ratings Changes

Several brokerages recently commented on BRX. Deutsche Bank Aktiengesellschaft began coverage on Brixmor Property Group in a research report on Tuesday, January 30th. They set a buy rating and a $27.00 target price on the stock. Stifel Nicolaus increased their price target on Brixmor Property Group from $22.75 to $24.00 and gave the stock a hold rating in a report on Tuesday, February 13th. The Goldman Sachs Group cut their price target on Brixmor Property Group from $28.00 to $27.00 and set a buy rating on the stock in a report on Wednesday, March 27th. Truist Financial reiterated a buy rating and issued a $25.00 price target on shares of Brixmor Property Group in a report on Monday, March 25th. Finally, Mizuho reiterated a neutral rating and issued a $24.00 price target (up previously from $23.00) on shares of Brixmor Property Group in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $25.38.

Brixmor Property Group Stock Up 1.3 %

Shares of Brixmor Property Group stock traded up $0.29 on Tuesday, hitting $22.44. The company had a trading volume of 1,217,794 shares, compared to its average volume of 2,544,129. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 2.62 and a beta of 1.53. Brixmor Property Group has a 1 year low of $19.40 and a 1 year high of $24.47. The stock has a 50 day moving average of $22.33 and a 200-day moving average of $22.21. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.58 and a current ratio of 0.58.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Monday, April 29th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22). The business had revenue of $320.24 million for the quarter, compared to analysts’ expectations of $314.82 million. Brixmor Property Group had a net margin of 24.50% and a return on equity of 10.63%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.50 earnings per share. As a group, sell-side analysts forecast that Brixmor Property Group will post 2.09 earnings per share for the current year.

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 given a $0.273 dividend. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.09 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend was Monday, April 1st. Brixmor Property Group’s dividend payout ratio (DPR) is currently 107.92%.

Insiders Place Their Bets

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