Brixmor Property Group Inc (NYSE:BRX) – Equities research analysts at Boenning Scattergood raised their Q1 2018 earnings per share (EPS) estimates for Brixmor Property Group in a research report issued to clients and investors on Wednesday, according to Zacks Investment Research. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will earn $0.51 per share for the quarter, up from their prior estimate of $0.50. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Brixmor Property Group’s Q4 2018 earnings at $0.50 EPS, Q4 2019 earnings at $0.55 EPS and FY2019 earnings at $2.13 EPS.
BRX has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Brixmor Property Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Stifel Nicolaus began coverage on shares of Brixmor Property Group in a research note on Thursday, November 30th. They set a “hold” rating and a $19.00 price target for the company. ValuEngine downgraded shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Royal Bank of Canada reissued a “hold” rating and set a $22.00 price target on shares of Brixmor Property Group in a research note on Thursday, November 2nd. Finally, Barclays dropped their price target on shares of Brixmor Property Group from $20.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $18.50.
Shares of Brixmor Property Group (BRX) traded up $0.22 during midday trading on Thursday, hitting $15.66. 2,542,818 shares of the company’s stock were exchanged, compared to its average volume of 5,397,751. Brixmor Property Group has a one year low of $13.74 and a one year high of $23.85. The company has a market capitalization of $4,704.63, a P/E ratio of 15.98, a PEG ratio of 1.92 and a beta of 0.35. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.65 and a current ratio of 0.65.
Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, February 12th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.27). Brixmor Property Group had a return on equity of 10.30% and a net margin of 23.40%. The company had revenue of $320.06 million during the quarter, compared to the consensus estimate of $312.97 million. During the same period in the prior year, the firm posted $0.53 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis.
A number of large investors have recently modified their holdings of BRX. Fuller & Thaler Asset Management Inc. bought a new stake in Brixmor Property Group in the third quarter valued at approximately $100,000. Meeder Asset Management Inc. increased its stake in Brixmor Property Group by 621.1% in the third quarter. Meeder Asset Management Inc. now owns 7,947 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 6,845 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Brixmor Property Group by 159.5% in the second quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 5,203 shares in the last quarter. CIBC Asset Management Inc bought a new stake in Brixmor Property Group in the third quarter valued at approximately $191,000. Finally, IFM Investors Pty Ltd bought a new stake in Brixmor Property Group in the third quarter valued at approximately $197,000.
In other news, EVP Mark Horgan bought 4,500 shares of the stock in a transaction on Wednesday, February 14th. The stock was purchased at an average price of $14.94 per share, with a total value of $67,230.00. Following the completion of the purchase, the executive vice president now owns 62,769 shares of the company’s stock, valued at $937,768.86. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.
Brixmor Property Group announced that its Board of Directors has approved a stock buyback plan on Tuesday, December 5th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, April 5th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 7.02%. The ex-dividend date of this dividend is Wednesday, April 4th. Brixmor Property Group’s payout ratio is presently 112.24%.
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Brixmor Property Group Company Profile
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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