Brixmor Property Group Inc (NYSE:BRX) – Equities researchers at Mitsubishi UFJ Financial Group increased their FY2018 earnings per share estimates for shares of Brixmor Property Group in a research note issued to investors on Wednesday, November 14th. Mitsubishi UFJ Financial Group analyst K. Ford now forecasts that the real estate investment trust will post earnings per share of $2.05 for the year, up from their prior estimate of $2.01. Mitsubishi UFJ Financial Group also issued estimates for Brixmor Property Group’s FY2019 earnings at $1.94 EPS.
A number of other research firms have also recently commented on BRX. Zacks Investment Research raised shares of Brixmor Property Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. KeyCorp raised shares of Brixmor Property Group from a “sector weight” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Monday, October 29th. Wells Fargo & Co dropped their price target on shares of Brixmor Property Group from $22.00 to $21.00 and set an “outperform” rating for the company in a research note on Monday, November 12th. Citigroup lifted their price target on shares of Brixmor Property Group from $16.50 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 16th. Finally, Sandler O’Neill cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $18.69.
Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, October 29th. The real estate investment trust reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.49. Brixmor Property Group had a net margin of 28.54% and a return on equity of 12.47%. The firm had revenue of $306.48 million for the quarter, compared to the consensus estimate of $301.87 million. During the same period in the previous year, the firm posted $0.52 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, January 4th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, January 3rd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.28. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.25%. Brixmor Property Group’s payout ratio is currently 52.63%.
Hedge funds have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd purchased a new stake in Brixmor Property Group in the 2nd quarter valued at about $124,000. Spirit of America Management Corp NY boosted its position in Brixmor Property Group by 143.5% in the 3rd quarter. Spirit of America Management Corp NY now owns 7,975 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 4,700 shares during the period. Private Advisor Group LLC purchased a new stake in Brixmor Property Group in the 2nd quarter valued at about $201,000. Signition LP purchased a new stake in Brixmor Property Group in the 2nd quarter valued at about $222,000. Finally, Point72 Hong Kong Ltd purchased a new stake in Brixmor Property Group in the 2nd quarter valued at about $258,000.
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 471 retail centers comprise approximately 80 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.
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