Brixmor Property Group (NYSE:BRX) Updates 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 (EPS) guidance of $2.11-2.14 for the period, compared to the consensus estimate of $2.10. Brixmor Property Group also updated its FY 2024 guidance to 2.110-2.140 EPS.

Brixmor Property Group Price Performance

Shares of BRX stock traded down $0.02 on Thursday, reaching $25.45. The company had a trading volume of 1,090,888 shares, compared to its average volume of 2,363,706. The business’s 50-day moving average is $23.02 and its 200 day moving average is $22.62. The stock has a market capitalization of $7.67 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 4.59 and a beta of 1.57. Brixmor Property Group has a one year low of $19.46 and a one year high of $26.41. The company has a quick ratio of 1.45, a current ratio of 1.50 and a debt-to-equity ratio of 1.88.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The business had revenue of $315.69 million for the quarter, compared to analyst estimates of $317.75 million. During the same quarter in the previous year, the business posted $0.52 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. Equities research analysts forecast that Brixmor Property Group will post 2.12 EPS for the current fiscal year.

Brixmor Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday, October 2nd. Brixmor Property Group’s dividend payout ratio (DPR) is 117.21%.

Analysts Set New Price Targets

Several brokerages have recently commented on BRX. The Goldman Sachs Group increased their price objective on Brixmor Property Group from $26.00 to $29.00 and gave the company a buy rating in a research report on Thursday. Evercore ISI raised Brixmor Property Group to a hold rating in a research report on Tuesday. Piper Sandler reaffirmed an overweight rating and issued a $33.00 target price (up from $30.00) on shares of Brixmor Property Group in a research report on Wednesday. Stifel Nicolaus upped their price target on Brixmor Property Group from $24.00 to $25.50 and gave the stock a hold rating in a research note on Tuesday. Finally, Wells Fargo & Company decreased their target price on shares of Brixmor Property Group from $25.00 to $24.00 and set an equal weight rating for the company in a research note on Tuesday, May 28th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $26.75.

Insider Activity at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel 10,000 shares of Brixmor Property Group stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.