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

Brixmor Property Group (NYSE:BRX) updated its FY24 earnings guidance on Monday. 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.

Wall Street Analyst Weigh In

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

Brixmor Property Group Trading Up 2.0 %

Shares of BRX stock traded up $0.43 on Monday, hitting $22.15. 2,937,918 shares of the company’s stock traded hands, compared to its average volume of 2,561,800. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 2.62 and a beta of 1.53. The company’s fifty day simple moving average is $22.35 and its 200 day simple moving average is $22.19. Brixmor Property Group has a one year low of $19.40 and a one year high of $24.47.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.27). Brixmor Property Group had a net margin of 24.50% and a return on equity of 10.63%. The company had revenue of $316.49 million for the quarter, compared to the consensus estimate of $311.77 million. During the same period last year, the business posted $0.49 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts forecast that Brixmor Property Group will post 2.09 EPS for the current year.

Brixmor Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were issued a dividend of $0.273 per share. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.93%. The ex-dividend date was Monday, April 1st. Brixmor Property Group’s dividend payout ratio is currently 107.92%.

Insider Buying and Selling

In related news, insider Brian T. Finnegan sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $23.00, for a total transaction of $172,500.00. Following the completion of the transaction, the insider now owns 225,051 shares in the company, valued at $5,176,173. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Brian T. Finnegan sold 7,500 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was 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 owns 225,051 shares of the company’s stock, valued at approximately $5,176,173. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael B. Berman sold 10,475 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total value of $239,039.50. Following the completion of the transaction, the director now owns 40,556 shares of the company’s stock, valued at approximately $925,487.92. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.

Brixmor Property Group Company Profile

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.