Brixmor Property Group Inc. (NYSE:BRX) Updates FY17 Earnings Guidance

Brixmor Property Group Inc. (NYSE:BRX) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.05-$2.12 for the period, compared to the Thomson Reuters consensus estimate of $2.09.

Shares of Brixmor Property Group Inc. (BRX) opened at 18.74 on Friday. Brixmor Property Group Inc. has a 52-week low of $17.35 and a 52-week high of $29.14. The firm has a 50-day moving average price of $18.96 and a 200 day moving average price of $20.30. The stock has a market cap of $5.71 billion, a price-to-earnings ratio of 19.20 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 business had revenue of $322.80 million during the quarter, compared to analyst estimates of $315.69 million. During the same period last year, the company earned $0.50 earnings per share. Brixmor Property Group’s quarterly revenue was up 4.1% compared to the same quarter last year. Analysts expect that Brixmor Property Group Inc. will post $0.86 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Thursday, October 5th will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, October 4th. This represents a $1.04 annualized dividend and a yield of 5.55%. Brixmor Property Group’s dividend payout ratio (DPR) is currently 106.12%.

BRX has been the topic of several recent research reports. 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 report on Monday, August 14th. Barclays PLC cut their target price on Brixmor Property Group from $23.00 to $22.00 and set an equal weight rating on the stock in a report on Friday, June 16th. Zacks Investment Research upgraded Brixmor Property Group from a sell rating to a hold rating in a report on Friday, August 4th. Boenning Scattergood restated a hold rating on shares of Brixmor Property Group in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada restated a hold rating and set a $23.00 target price on shares of Brixmor Property Group in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Brixmor Property Group has an average rating of Hold and a consensus price target of $25.55.

In other Brixmor Property Group news, insider James M. Taylor, Jr. purchased 15,600 shares of the stock in a transaction dated Thursday, August 17th. The shares were bought at an average cost of $19.24 per share, with a total value of $300,144.00. Following the completion of the transaction, the insider now owns 224,793 shares in the company, valued at approximately $4,325,017.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.27% of the company’s stock.

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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.

Earnings History and Estimates for Brixmor Property Group (NYSE:BRX)

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