Brixmor Property Group Inc. (BRX) Expected to Announce Earnings of $0.51 Per Share
Brokerages predict that Brixmor Property Group Inc. (NYSE:BRX) will report $0.51 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Brixmor Property Group’s earnings. The highest EPS estimate is $0.52 and the lowest is $0.50. Brixmor Property Group posted earnings per share of $0.19 in the same quarter last year, which would suggest a positive year over year growth rate of 168.4%. The business is expected to announce its next earnings report after the market closes on Monday, October 30th.
On average, analysts expect that Brixmor Property Group will report full-year earnings of $2.10 per share for the current year, with EPS estimates ranging from $2.09 to $2.12. For the next fiscal year, analysts anticipate that the company will post earnings of $2.15 per share, with EPS estimates ranging from $2.08 to $2.18. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Brixmor Property Group.
Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, July 31st. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. Brixmor Property Group had a net margin of 23.06% and a return on equity of 10.22%. The business had revenue of $322.80 million for the quarter, compared to analyst estimates of $315.69 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year.
A number of research firms have issued reports on BRX. Boenning Scattergood reiterated a “hold” rating on shares of Brixmor Property Group in a research report on Wednesday, August 2nd. Royal Bank Of Canada reiterated a “hold” rating and issued a $23.00 target price on shares of Brixmor Property Group in a research report on Wednesday, August 2nd. Citigroup Inc. lifted their target price on Brixmor Property Group from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. Zacks Investment Research upgraded Brixmor Property Group from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Mizuho upgraded Brixmor Property Group from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $23.85.
Brixmor Property Group (BRX) traded down 0.70% during midday trading on Tuesday, hitting $18.53. 365,754 shares of the stock traded hands. Brixmor Property Group has a 12-month low of $17.35 and a 12-month high of $29.14. The stock has a market capitalization of $5.65 billion, a PE ratio of 18.99 and a beta of 0.54. The firm’s 50 day moving average is $19.24 and its 200-day moving average is $19.54.
The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date of this dividend is Wednesday, October 4th. Brixmor Property Group’s dividend payout ratio is currently 106.12%.
In related news, Director John Schreiber acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were bought at an average cost of $18.72 per share, with a total value of $187,200.00. Following the completion of the purchase, the director now directly owns 20,000 shares in the company, valued at $374,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James M. Taylor, Jr. acquired 15,600 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average cost of $19.24 per share, for a total transaction of $300,144.00. Following the completion of the purchase, the insider now owns 224,793 shares of the company’s stock, valued at $4,325,017.32. The disclosure for this purchase can be found here. 0.27% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of BRX. Pacer Advisors Inc. lifted its stake in 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 during the period. Mckinley Capital Management LLC Delaware acquired a new position in Brixmor Property Group in the first quarter valued at approximately $131,000. PNC Financial Services Group Inc. lifted its stake in Brixmor Property Group by 159.5% in the second quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 5,203 shares during the period. LS Investment Advisors LLC lifted its stake in 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 during the period. Finally, Public Employees Retirement Association of Colorado lifted its stake in 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 during the period.
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Brixmor Property Group Company Profile
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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