Brixmor Property Group (NYSE:BRX) Updates FY 2024 Earnings Guidance

Brixmor Property Group (NYSE:BRX) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 2.080-2.110 for the period, compared to the consensus estimate of 2.080. The company issued revenue guidance of -. Brixmor Property Group also updated its FY24 guidance to $2.08-$2.11 EPS.

Brixmor Property Group Stock Up 0.2 %

Shares of BRX traded up $0.05 during midday trading on Wednesday, hitting $22.15. The stock had a trading volume of 460,856 shares, compared to its average volume of 2,549,936. Brixmor Property Group has a twelve month low of $19.40 and a twelve month high of $24.47. The company has a 50 day simple moving average of $22.31 and a two-hundred day simple moving average of $22.22. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 2.67 and a beta of 1.53. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.58 and a quick ratio of 0.58.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22). The company had revenue of $320.24 million for the quarter, compared to the consensus estimate of $314.82 million. Brixmor Property Group had a return on equity of 9.83% and a net margin of 22.47%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.50 earnings per share. On average, analysts anticipate that Brixmor Property Group will post 2.09 EPS for the current year.

Brixmor Property Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a $0.2725 dividend. The ex-dividend date is Tuesday, July 2nd. This represents a $1.09 annualized dividend and a yield of 4.92%. Brixmor Property Group’s payout ratio is currently 117.21%.

Analyst Ratings Changes

Several research firms have recently issued reports on BRX. Stifel Nicolaus lifted their target price on shares of Brixmor Property Group from $22.75 to $24.00 and gave the company a hold rating in a report on Tuesday, February 13th. Mizuho reiterated a neutral rating and set a $24.00 price target (up previously from $23.00) on shares of Brixmor Property Group in a report on Friday, February 23rd. Truist Financial restated a buy rating and issued a $25.00 price objective on shares of Brixmor Property Group in a report on Monday, March 25th. 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 report on Wednesday, March 27th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Brixmor Property Group in a research note on Tuesday, January 30th. They set a buy rating and a $27.00 target price for the company. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $25.38.

Insider Activity

In related news, Director Michael B. Berman sold 10,475 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $22.82, for a total transaction of $239,039.50. Following the completion of the sale, the director now directly owns 40,556 shares of the company’s stock, valued at $925,487.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $172,500.00. Following the sale, the insider now 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 through this link. Also, Director Michael B. Berman sold 10,475 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $22.82, for a total value of $239,039.50. Following the transaction, the director now directly owns 40,556 shares of the company’s stock, valued at approximately $925,487.92. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

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.