Brixmor Property Group (NYSE:BRX) Announces Quarterly Earnings Results, Misses Estimates By $0.21 EPS

Brixmor Property Group (NYSE:BRX) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21), Zacks reports. The firm had revenue of $320.68 million for 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 in the prior year, the firm posted $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 Performance

BRX opened at $27.52 on Wednesday. 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 has a 12-month low of $19.88 and a 12-month high of $28.45. The business has a 50 day moving average of $27.52 and a 200-day moving average of $24.64. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 4.43 and a beta of 1.57.

Brixmor Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be issued a $0.287 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.17%. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, January 3rd. Brixmor Property Group’s dividend payout ratio is presently 117.20%.

Insider Buying and Selling

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.76% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BRX shares. Mizuho boosted their price target on shares of Brixmor Property Group from $23.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Compass Point increased their price target on Brixmor Property Group from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. The Goldman Sachs Group lifted their price objective on Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their target price on Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Truist Financial lifted their price target on shares of Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.54.

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.