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

Brixmor Property Group (NYSE:BRX) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share guidance of 2.080-2.110 for the period, compared to the consensus earnings per share 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 2.0 %

NYSE BRX traded up $0.43 during trading on Monday, hitting $22.15. 2,937,918 shares of the company traded hands, compared to its average volume of 2,561,801. Brixmor Property Group has a 12 month low of $19.40 and a 12 month high of $24.47. The business has a fifty day simple moving average of $22.35 and a 200 day simple moving average of $22.19. The company has a market capitalization of $6.67 billion, a P/E ratio of 21.93, a PEG ratio of 2.62 and a beta of 1.53. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.73.

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

Brixmor Property Group Increases Dividend

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

Analyst Upgrades and Downgrades

BRX has been the topic of a number of recent analyst reports. Truist Financial reiterated a buy rating and issued a $25.00 price objective on shares of Brixmor Property Group in a research note on Monday, March 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Brixmor Property Group in a research report on Tuesday, January 30th. They issued a buy rating and a $27.00 price target on the stock. Stifel Nicolaus increased their price objective on Brixmor Property Group from $22.75 to $24.00 and gave the company a hold rating in a research report on Tuesday, February 13th. Mizuho restated a neutral rating and issued a $24.00 price objective (up previously from $23.00) on shares of Brixmor Property Group in a research note on Friday, February 23rd. Finally, The Goldman Sachs Group cut their target price on shares of Brixmor Property Group from $28.00 to $27.00 and set a buy rating for the company in a research note on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Brixmor Property Group presently has a consensus rating of Moderate Buy and a consensus price target of $25.38.

Insiders Place Their Bets

In other news, Director Michael B. Berman sold 10,475 shares of the stock in a transaction 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 completion of the transaction, the director now owns 40,556 shares in the company, valued at approximately $925,487.92. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Michael B. Berman sold 10,475 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total value of $239,039.50. Following the completion of the transaction, the director now owns 40,556 shares of the company’s stock, valued at $925,487.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian T. Finnegan sold 7,500 shares of Brixmor Property Group stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $23.00, for a total value of $172,500.00. Following the sale, the insider now directly owns 225,051 shares in the company, valued at $5,176,173. The disclosure for this sale can be found here. Corporate 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.