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 earnings per share guidance of 2.080-2.110 for the period, compared to the consensus earnings per share estimate of 2.080. The company issued revenue guidance of -. Brixmor Property Group also updated its FY24 guidance to $2.08-$2.11 EPS.

Brixmor Property Group Price Performance

Shares of Brixmor Property Group stock traded up $0.43 on Monday, hitting $22.15. The company’s stock had a trading volume of 2,937,918 shares, compared to its average volume of 2,561,801. 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 firm has a fifty day moving average price of $22.35 and a 200-day moving average price of $22.19. Brixmor Property Group has a 52-week low of $19.40 and a 52-week high of $24.47. The company has a market capitalization of $6.67 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.53.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.24 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.27). Brixmor Property Group had a net margin of 24.50% and a return on equity of 10.63%. The business had revenue of $316.49 million during the quarter, compared to analyst estimates of $311.77 million. During the same quarter in the prior year, the company earned $0.49 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities research analysts expect that Brixmor Property Group will post 2.09 earnings per share for the current fiscal year.

Brixmor Property Group Increases Dividend

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Truist Financial reissued a buy rating and issued a $25.00 target price on shares of Brixmor Property Group in a research note on Monday, March 25th. Deutsche Bank Aktiengesellschaft initiated 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 on the stock. Mizuho reiterated a neutral rating and issued a $24.00 price target (up from $23.00) on shares of Brixmor Property Group in a report on Friday, February 23rd. The Goldman Sachs Group lowered their price objective on Brixmor Property Group from $28.00 to $27.00 and set a buy rating for the company in a research report on Wednesday, March 27th. Finally, Stifel Nicolaus increased their target price on Brixmor Property Group from $22.75 to $24.00 and gave the stock a hold rating in a research report on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Brixmor Property Group presently has an average rating of Moderate Buy and an average target price of $25.38.

Insider Activity at Brixmor Property Group

In other Brixmor Property Group news, Director Michael B. Berman sold 10,475 shares of Brixmor Property Group stock in a transaction that occurred on 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 directly owns 40,556 shares of the company’s stock, valued at $925,487.92. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Brian T. Finnegan sold 7,500 shares of Brixmor Property Group stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.00, for a total transaction of $172,500.00. Following the sale, the insider now owns 225,051 shares of the company’s stock, valued at approximately $5,176,173. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael B. Berman sold 10,475 shares of the company’s 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 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. 0.76% of the stock is owned by insiders.

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.