Brixmor Property Group (NYSE:BRX) Issues Quarterly Earnings Results, Misses Expectations By $0.22 EPS

Brixmor Property Group (NYSE:BRX) posted its earnings results on Monday. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22), Yahoo Finance reports. The business had revenue of $320.24 million for the quarter, compared to the consensus estimate of $314.82 million. Brixmor Property Group had a return on equity of 10.63% and a net margin of 24.50%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm 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 2.0 %

Brixmor Property Group stock opened at $22.15 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $6.67 billion, a PE ratio of 21.93, a PEG ratio of 2.62 and a beta of 1.53. The firm’s fifty day moving average is $22.33 and its 200 day moving average is $22.21. Brixmor Property Group has a 12-month low of $19.40 and a 12-month high of $24.47.

Brixmor Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were paid a $0.273 dividend. The ex-dividend date was Monday, April 1st. This represents a $1.09 annualized dividend and a dividend yield of 4.93%. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s payout ratio is currently 107.92%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BRX. The Goldman Sachs Group reduced their price objective on shares of 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. Truist Financial reissued a “buy” rating and issued a $25.00 price target on shares of Brixmor Property Group in a research note on Monday, March 25th. Mizuho restated a “neutral” rating and set a $24.00 price objective (up from $23.00) on shares of Brixmor Property Group in a research report on Friday, February 23rd. Stifel Nicolaus upped their target price on Brixmor Property Group from $22.75 to $24.00 and gave the company a “hold” rating in a report on Tuesday, February 13th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Brixmor Property Group in a research report on Tuesday, January 30th. They set a “buy” rating and a $27.00 target price for the company. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Brixmor Property Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.38.

Insider Buying and Selling at Brixmor Property Group

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