Brixmor Property Group (NYSE:BRX) Posts Earnings Results, Misses Expectations By $0.22 EPS

Brixmor Property Group (NYSE:BRX) released its earnings results on Monday. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.22), Yahoo Finance reports. The business had revenue of $320.24 million for the quarter, compared to the consensus estimate of $314.82 million. Brixmor Property Group had a net margin of 24.50% and a return on equity of 10.63%. Brixmor Property Group’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS. Brixmor Property Group updated its FY24 guidance to $2.08-$2.11 EPS and its FY 2024 guidance to 2.080-2.110 EPS.

Brixmor Property Group Price Performance

BRX opened at $22.15 on Tuesday. 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 PE ratio of 21.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.53. The stock’s 50 day moving average price is $22.33 and its 200-day moving average price is $22.21. Brixmor Property Group has a 52-week low of $19.40 and a 52-week high of $24.47.

Brixmor Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd were given a $0.273 dividend. 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 of this dividend was Monday, April 1st. Brixmor Property Group’s dividend payout ratio (DPR) is currently 107.92%.

Insider Buying and Selling

In other news, insider Brian T. Finnegan sold 7,500 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $23.00, for a total value of $172,500.00. Following the completion of the sale, the insider now directly owns 225,051 shares of the company’s stock, valued at approximately $5,176,173. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Brixmor Property Group 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 transaction, the insider now owns 225,051 shares in the company, valued at approximately $5,176,173. The transaction was disclosed in a document filed 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Truist Financial restated a “buy” rating and set a $25.00 price target on shares of Brixmor Property Group in a research report on Monday, March 25th. Deutsche Bank Aktiengesellschaft initiated coverage on Brixmor Property Group in a report on Tuesday, January 30th. They set a “buy” rating and a $27.00 target price for the company. Mizuho reaffirmed a “neutral” rating and issued a $24.00 price target (up from $23.00) on shares of Brixmor Property Group in a research note on Friday, February 23rd. Stifel Nicolaus boosted their price objective on Brixmor Property Group from $22.75 to $24.00 and gave the company a “hold” rating in a research report on Tuesday, February 13th. Finally, The Goldman Sachs Group cut their target price on shares of Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Brixmor Property Group has a consensus rating of “Moderate Buy” and a consensus target price of $25.38.

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.