Brokerages expect Brixmor Property Group Inc (NYSE:BRX) to announce $304.37 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Brixmor Property Group’s earnings, with the lowest sales estimate coming in at $292.68 million and the highest estimate coming in at $322.68 million. Brixmor Property Group reported sales of $320.06 million in the same quarter last year, which indicates a negative year over year growth rate of 4.9%. The company is scheduled to announce its next quarterly earnings results on Monday, February 11th.
According to Zacks, analysts expect that Brixmor Property Group will report full-year sales of $1.24 billion for the current fiscal year, with estimates ranging from $1.22 billion to $1.27 billion. For the next financial year, analysts anticipate that the company will post sales of $1.22 billion, with estimates ranging from $1.16 billion to $1.31 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Brixmor Property Group.
Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, October 29th. The real estate investment trust reported $0.49 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.49. Brixmor Property Group had a return on equity of 12.47% and a net margin of 28.54%. 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 business earned $0.52 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis.
Several analysts have weighed in on the company. ValuEngine upgraded Brixmor Property Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 30th. KeyCorp upgraded Brixmor Property Group from a “sector weight” rating to an “overweight” rating and set a $18.00 price target on the stock in a research note on Monday, October 29th. Zacks Investment Research upgraded Brixmor Property Group from a “sell” rating to a “hold” rating in a research note on Thursday, October 25th. Scotiabank assumed coverage on Brixmor Property Group in a research note on Tuesday, October 16th. They set an “outperform” rating on the stock. Finally, Barclays reiterated a “hold” rating and set a $16.00 price target on shares of Brixmor Property Group in a research note on Sunday, October 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Brixmor Property Group has a consensus rating of “Hold” and a consensus target price of $18.50.
Brixmor Property Group stock traded up $0.22 during trading hours on Friday, hitting $16.14. 100,206 shares of the stock traded hands, compared to its average volume of 3,566,431. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $4.71 billion, a PE ratio of 7.72, a PEG ratio of 2.05 and a beta of 0.47. Brixmor Property Group has a 1 year low of $13.74 and a 1 year high of $18.83.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Friday, January 4th will be paid a $0.28 dividend. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, January 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.94%. Brixmor Property Group’s dividend payout ratio is presently 52.63%.
Several institutional investors and hedge funds have recently modified their holdings of BRX. Allianz Asset Management GmbH raised its holdings in Brixmor Property Group by 42.3% in the 1st quarter. Allianz Asset Management GmbH now owns 1,030,705 shares of the real estate investment trust’s stock worth $15,718,000 after purchasing an additional 306,474 shares during the period. Dalton Greiner Hartman Maher & Co. acquired a new position in Brixmor Property Group in the 2nd quarter worth about $304,000. Financial & Investment Management Group Ltd. raised its holdings in Brixmor Property Group by 13.1% in the 2nd quarter. Financial & Investment Management Group Ltd. now owns 505,828 shares of the real estate investment trust’s stock worth $8,817,000 after purchasing an additional 58,732 shares during the period. Nwam LLC raised its holdings in Brixmor Property Group by 36.6% in the 2nd quarter. Nwam LLC now owns 28,788 shares of the real estate investment trust’s stock worth $502,000 after purchasing an additional 7,720 shares during the period. Finally, Fox Run Management L.L.C. raised its holdings in Brixmor Property Group by 151.5% in the 2nd quarter. Fox Run Management L.L.C. now owns 69,148 shares of the real estate investment trust’s stock worth $1,205,000 after purchasing an additional 41,657 shares during the period.
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 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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