Brixmor Property Group (NYSE:BRX) Releases FY24 Earnings Guidance

Brixmor Property Group (NYSE:BRX) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $2.08-$2.11 for the period, compared to the consensus earnings per share estimate of $2.08. Brixmor Property Group also updated its FY 2024 guidance to 2.080-2.110 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Brixmor Property Group from $22.75 to $24.00 and gave the stock a hold rating in a research report on Tuesday, February 13th. Truist Financial reiterated a buy rating and issued a $25.00 price target on shares of Brixmor Property Group in a research note on Monday, March 25th. The Goldman Sachs Group reduced their price objective on Brixmor Property Group from $28.00 to $27.00 and set a buy rating on the stock in a research report on Wednesday, March 27th. Mizuho reaffirmed a neutral rating and issued a $24.00 target price (up previously from $23.00) on shares of Brixmor Property Group in a report on Friday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Brixmor Property Group in a research note on Tuesday, January 30th. They set a buy rating and a $27.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $25.38.

Brixmor Property Group Stock Up 0.4 %

Shares of NYSE:BRX opened at $22.19 on Thursday. The business has a fifty day simple moving average of $22.30 and a 200 day simple moving average of $22.22. Brixmor Property Group has a 12-month low of $19.40 and a 12-month high of $24.47. The firm has a market cap of $6.69 billion, a P/E ratio of 23.86, a P/E/G ratio of 2.67 and a beta of 1.53. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.73.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22). Brixmor Property Group had a return on equity of 9.83% and a net margin of 22.47%. The company had revenue of $320.24 million for the quarter, compared to the consensus estimate of $314.82 million. During the same quarter last year, the business earned $0.50 earnings per share. Brixmor Property Group’s revenue was up 2.8% compared to the same quarter last year. Analysts predict that Brixmor Property Group will post 2.09 earnings per share for the current year.

Brixmor Property Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a $0.2725 dividend. The ex-dividend date of this dividend is Tuesday, July 2nd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.91%. Brixmor Property Group’s dividend payout ratio (DPR) is currently 117.21%.

Insider Activity

In related news, Director Michael B. Berman sold 10,475 shares of Brixmor Property Group stock in a transaction 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 completion of the transaction, the director now owns 40,556 shares of the company’s stock, valued at $925,487.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 stock was sold at an average price of $22.82, for a total value of $239,039.50. Following the completion of the sale, the director now directly owns 40,556 shares in the company, valued at $925,487.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Brian T. Finnegan sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $23.00, for a total value of $172,500.00. Following the completion of the transaction, the insider now directly owns 225,051 shares in the company, valued at $5,176,173. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

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.