Brixmor Property Group (BRX) Releases Earnings Results, Misses Expectations By $0.17 EPS

Brixmor Property Group (NYSE:BRX) released its earnings results on Monday. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.17), Fidelity Earnings reports. Brixmor Property Group had a return on equity of 12.47% and a net margin of 28.54%. The company had revenue of $297.66 million during the quarter, compared to analysts’ expectations of $302.22 million. Brixmor Property Group updated its FY 2019 guidance to $2.00-2.00 EPS.

Shares of NYSE:BRX opened at $17.67 on Wednesday. The firm has a market cap of $5.36 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 2.58 and a beta of 0.79. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.63 and a current ratio of 0.63. Brixmor Property Group has a 1 year low of $13.84 and a 1 year high of $18.71.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, April 5th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date is Thursday, April 4th. Brixmor Property Group’s payout ratio is currently 53.59%.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Brixmor Property Group by 2.5% during the fourth quarter. BlackRock Inc. now owns 22,433,748 shares of the real estate investment trust’s stock valued at $329,552,000 after purchasing an additional 556,452 shares in the last quarter. Cohen & Steers Inc. lifted its holdings in shares of Brixmor Property Group by 14.5% during the third quarter. Cohen & Steers Inc. now owns 18,397,281 shares of the real estate investment trust’s stock valued at $322,136,000 after purchasing an additional 2,326,047 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Brixmor Property Group by 9.2% during the third quarter. Morgan Stanley now owns 10,528,243 shares of the real estate investment trust’s stock valued at $184,349,000 after purchasing an additional 885,944 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Brixmor Property Group by 7.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,166,574 shares of the real estate investment trust’s stock valued at $178,017,000 after purchasing an additional 722,687 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Brixmor Property Group by 1.0% during the third quarter. FMR LLC now owns 7,393,554 shares of the real estate investment trust’s stock valued at $129,461,000 after purchasing an additional 74,198 shares in the last quarter. 98.30% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently commented on BRX shares. Zacks Investment Research raised Brixmor Property Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. BMO Capital Markets reissued a “hold” rating and issued a $17.00 target price on shares of Brixmor Property Group in a research note on Monday. ValuEngine raised Brixmor Property Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. JPMorgan Chase & Co. cut Brixmor Property Group from an “overweight” rating to a “neutral” rating in a research note on Wednesday, December 19th. Finally, Wells Fargo & Co cut their target price on Brixmor Property Group from $22.00 to $21.00 and set an “outperform” rating on the stock in a research note on Monday, November 12th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.46.

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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 445 retail centers comprise approximately 77 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.

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Earnings History for Brixmor Property Group (NYSE:BRX)

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