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

Brixmor Property Group (NYSE:BRX) updated its FY 2024 earnings guidance on Monday. 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.

Wall Street Analysts Forecast Growth

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

Brixmor Property Group Trading Up 2.0 %

BRX stock traded up $0.43 during midday trading on Monday, hitting $22.15. 2,937,973 shares of the company’s stock were exchanged, compared to its average volume of 2,561,801. The company has a market cap 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 fifty day moving average price is $22.35 and its 200-day moving average price is $22.19. Brixmor Property Group has a one year low of $19.40 and a one year high of $24.47. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.58 and a current ratio of 0.58.

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

Brixmor Property Group Increases Dividend

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

Insider Buying and Selling

In related news, insider Brian T. Finnegan sold 7,500 shares of Brixmor Property Group 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 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 legal filing with the SEC, which is accessible through the SEC website. In other Brixmor Property Group news, 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 transaction of $239,039.50. Following the transaction, the director now owns 40,556 shares in the company, valued at approximately $925,487.92. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Brian T. Finnegan sold 7,500 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 225,051 shares in the company, valued at approximately $5,176,173. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by corporate 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.