Brokerages forecast that Brixmor Property Group Inc (NYSE:BRX) will post sales of $307.41 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Brixmor Property Group’s earnings, with the lowest sales estimate coming in at $302.42 million and the highest estimate coming in at $314.07 million. Brixmor Property Group reported sales of $322.82 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 4.8%. The firm is scheduled to report its next earnings results after the market closes on Monday, July 30th.
According to Zacks, analysts expect that Brixmor Property Group will report full year sales of $1.24 billion for the current financial year, with estimates ranging from $1.22 billion to $1.26 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.25 billion per share, with estimates ranging from $1.20 billion to $1.31 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Brixmor Property Group.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, April 30th. The real estate investment trust reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.31). Brixmor Property Group had a net margin of 22.73% and a return on equity of 9.98%. The firm had revenue of $317.17 million during the quarter, compared to the consensus estimate of $315.84 million. During the same period last year, the business earned $0.53 EPS. The business’s revenue was down 2.6% on a year-over-year basis.
Several analysts have weighed in on the stock. ValuEngine upgraded shares of Brixmor Property Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 23rd. Evercore ISI upgraded shares of Brixmor Property Group from an “in-line” rating to an “outperform” rating in a research note on Monday, June 11th. Boenning Scattergood restated a “hold” rating on shares of Brixmor Property Group in a research report on Wednesday, May 2nd. Goldman Sachs Group assumed coverage on shares of Brixmor Property Group in a research report on Friday, May 18th. They issued a “buy” rating and a $17.50 target price for the company. Finally, BMO Capital Markets set a $19.00 target price on shares of Brixmor Property Group and gave the company a “hold” rating in a research report on Monday, April 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $18.32.
In other news, CEO James M. Taylor, Jr. acquired 11,500 shares of Brixmor Property Group stock in a transaction dated Friday, May 4th. The shares were bought at an average cost of $14.65 per share, with a total value of $168,475.00. Following the purchase, the chief executive officer now owns 228,384 shares in the company, valued at approximately $3,345,825.60. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Schreiber acquired 10,000 shares of Brixmor Property Group stock in a transaction dated Wednesday, May 9th. The stock was purchased at an average cost of $14.64 per share, for a total transaction of $146,400.00. Following the completion of the purchase, the director now owns 25,000 shares in the company, valued at approximately $366,000. The disclosure for this purchase can be found here. Insiders have acquired a total of 23,090 shares of company stock worth $339,091 over the last three months. Insiders own 0.33% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Suntrust Banks Inc. bought a new stake in shares of Brixmor Property Group in the 1st quarter valued at $1,262,000. Allianz Asset Management GmbH lifted its position in shares of Brixmor Property Group by 42.3% during the 1st quarter. Allianz Asset Management GmbH now owns 1,030,705 shares of the real estate investment trust’s stock valued at $15,718,000 after acquiring an additional 306,474 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Brixmor Property Group by 27.6% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 19,668 shares of the real estate investment trust’s stock valued at $300,000 after acquiring an additional 4,252 shares during the period. Royal Bank of Canada lifted its position in shares of Brixmor Property Group by 15.8% during the 1st quarter. Royal Bank of Canada now owns 1,015,880 shares of the real estate investment trust’s stock valued at $15,492,000 after acquiring an additional 138,721 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Brixmor Property Group by 11.7% during the 1st quarter. Legal & General Group Plc now owns 1,357,497 shares of the real estate investment trust’s stock valued at $20,702,000 after acquiring an additional 141,757 shares during the period. 99.25% of the stock is currently owned by institutional investors.
Shares of BRX stock traded down $0.21 during midday trading on Friday, hitting $17.22. 2,944,145 shares of the company were exchanged, compared to its average volume of 3,912,161. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 8.23, a PEG ratio of 2.23 and a beta of 0.40. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.67 and a current ratio of 0.67. Brixmor Property Group has a 52 week low of $13.74 and a 52 week high of $20.59.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, July 6th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 6.39%. The ex-dividend date of this dividend is Thursday, July 5th. Brixmor Property Group’s payout ratio is 52.63%.
About Brixmor Property Group
Brixmor Property Group, a real estate investment trust (REIT), is a leading owner and operator of high-quality, open-air shopping centers. The Company's more than 475 retail centers comprise 82 million square feet in established trade areas across the nation and are supported by a diverse mix of highly productive non-discretionary and value-oriented retailers, as well as consumer-oriented service providers.
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