Brixmor Property Group (NYSE:BRX) Issues Earnings Results

Brixmor Property Group (NYSE:BRX) issued its earnings results on Tuesday. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22), Yahoo Finance reports. The company had revenue of $320.24 million for the quarter, compared to analysts’ expectations of $314.82 million. Brixmor Property Group had a return on equity of 9.84% and a net margin of 22.47%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share.

Brixmor Property Group Stock Performance

Shares of NYSE BRX opened at $22.19 on Thursday. The company has a current ratio of 1.45, a quick ratio of 0.58 and a debt-to-equity ratio of 1.86. The company has a 50 day simple moving average of $22.30 and a two-hundred day simple moving average of $22.22. Brixmor Property Group has a 12 month low of $19.40 and a 12 month high of $24.47. The stock has a market cap of $6.69 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 2.66 and a beta of 1.53.

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 given a dividend of $0.2725 per share. The ex-dividend date is Tuesday, July 2nd. This represents a $1.09 dividend on an annualized basis and a yield of 4.91%. Brixmor Property Group’s dividend payout ratio is currently 117.21%.

Analysts Set New Price Targets

Several research firms have commented on BRX. Deutsche Bank Aktiengesellschaft began coverage on Brixmor Property Group in a report on Tuesday, January 30th. They set a “buy” rating and a $27.00 price objective on the stock. Truist Financial reissued a “buy” rating and set a $25.00 target price on shares of Brixmor Property Group in a research report on Monday, March 25th. Mizuho reaffirmed a “neutral” rating and issued a $24.00 price target (up previously from $23.00) on shares of Brixmor Property Group in a research report on Friday, February 23rd. Stifel Nicolaus lifted their price objective 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. Finally, The Goldman Sachs Group cut their price target on 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 stock. According to data from MarketBeat, Brixmor Property Group presently has a consensus rating of “Moderate Buy” and an average target price of $25.38.

Insider Transactions at Brixmor Property Group

In related news, Director Michael B. Berman sold 10,475 shares of Brixmor Property Group stock in a transaction that occurred 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 $925,487.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Michael B. Berman sold 10,475 shares of the business’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 sale, the director now directly owns 40,556 shares of the company’s stock, valued at approximately $925,487.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian T. Finnegan sold 7,500 shares of the 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 directly owns 225,051 shares of the company’s stock, valued at approximately $5,176,173. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.

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.