Brixmor Property Group (NYSE:BRX) Posts Earnings Results

Brixmor Property Group (NYSE:BRXGet Free Report) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21), Zacks reports. The company had revenue of $320.68 million during the quarter, compared to analyst estimates of $320.22 million. Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. Brixmor Property Group updated its FY24 guidance to $2.13-$2.15 EPS and its FY 2024 guidance to 2.130-2.150 EPS.

Brixmor Property Group Stock Up 0.4 %

Shares of BRX traded up $0.12 during midday trading on Wednesday, hitting $27.64. The company had a trading volume of 2,513,440 shares, compared to its average volume of 2,288,792. The company’s 50 day moving average price is $27.52 and its 200 day moving average price is $24.64. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 4.43 and a beta of 1.57. Brixmor Property Group has a 52 week low of $20.02 and a 52 week high of $28.45. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.88.

Brixmor Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be given a $0.287 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.15 annualized dividend and a dividend yield of 4.15%. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s payout ratio is presently 117.20%.

Insider Transactions at Brixmor Property Group

In related news, Director Sheryl Maxwell Crosland sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total transaction of $127,250.00. Following the completion of the sale, the director now owns 46,291 shares of the company’s stock, valued at $1,178,105.95. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Compass Point lifted their price target on shares of Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Piper Sandler restated an “overweight” rating and set a $33.00 target price (up previously from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. Truist Financial lifted their target price on shares of Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 16th. StockNews.com lowered shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, KeyCorp lifted their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Brixmor Property Group has a consensus rating of “Moderate Buy” and a consensus price target of $28.54.

View Our Latest Research Report on BRX

Brixmor Property Group Company Profile

(Get Free Report)

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.

See Also

Earnings History for Brixmor Property Group (NYSE:BRX)

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