Brokerages expect that Brixmor Property Group Inc (NYSE:BRX) will post $318.68 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for Brixmor Property Group’s earnings, with estimates ranging from $313.77 million to $325.35 million. Brixmor Property Group posted sales of $325.81 million in the same quarter last year, which suggests a negative year over year growth rate of 2.2%. The company is expected to issue its next earnings report on Monday, May 7th.
According to Zacks, analysts expect that Brixmor Property Group will report full-year sales of $318.68 million for the current financial year, with estimates ranging from $1.22 billion to $1.30 billion. For the next financial year, analysts expect that the company will post sales of $1.28 billion per share, with estimates ranging from $1.21 billion to $1.37 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Brixmor Property Group.
Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, February 12th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.27). The business had revenue of $320.06 million during the quarter, compared to analyst estimates of $312.97 million. Brixmor Property Group had a net margin of 23.40% and a return on equity of 10.30%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 earnings per share.
A number of equities analysts have recently commented on the stock. Boenning Scattergood reaffirmed a “hold” rating on shares of Brixmor Property Group in a report on Wednesday, February 14th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $19.00 target price on shares of Brixmor Property Group in a report on Friday, February 23rd. Zacks Investment Research raised shares of Brixmor Property Group from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $20.00 target price (down from $21.00) on shares of Brixmor Property Group in a report on Tuesday, February 20th. Finally, ValuEngine cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $18.40.
In other news, EVP Mark Horgan acquired 4,500 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were bought at an average cost of $14.94 per share, with a total value of $67,230.00. Following the purchase, the executive vice president now owns 62,769 shares of the company’s stock, valued at approximately $937,768.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James M. Taylor, Jr. acquired 7,500 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was purchased at an average cost of $15.55 per share, for a total transaction of $116,625.00. Following the completion of the purchase, the chief executive officer now directly owns 216,884 shares in the company, valued at approximately $3,372,546.20. The disclosure for this purchase can be found here. Insiders acquired a total of 12,750 shares of company stock worth $195,495 over the last three months. 0.27% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Paloma Partners Management Co increased its stake in Brixmor Property Group by 136.2% in the 4th quarter. Paloma Partners Management Co now owns 60,453 shares of the real estate investment trust’s stock valued at $1,128,000 after buying an additional 34,859 shares during the period. Davis Selected Advisers acquired a new position in shares of Brixmor Property Group during the 3rd quarter worth $2,874,000. Swiss National Bank grew its stake in shares of Brixmor Property Group by 1.0% during the 3rd quarter. Swiss National Bank now owns 1,120,650 shares of the real estate investment trust’s stock worth $21,068,000 after purchasing an additional 11,600 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Brixmor Property Group by 20.2% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 120,208 shares of the real estate investment trust’s stock worth $2,260,000 after purchasing an additional 20,228 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD grew its stake in shares of Brixmor Property Group by 1,204.2% during the 4th quarter. Sumitomo Mitsui Asset Management Company LTD now owns 422,565 shares of the real estate investment trust’s stock worth $7,885,000 after purchasing an additional 390,164 shares during the period. 99.67% of the stock is currently owned by institutional investors.
Shares of BRX stock traded down $0.05 during trading on Friday, hitting $14.99. 2,256,134 shares of the stock were exchanged, compared to its average volume of 4,018,804. The firm has a market cap of $4,625.41, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.88 and a beta of 0.38. Brixmor Property Group has a fifty-two week low of $13.74 and a fifty-two week high of $22.02. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.95.
The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a $1.10 annualized dividend and a yield of 7.34%. Brixmor Property Group’s dividend payout ratio is currently 112.24%.
Brixmor Property Group declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 5th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
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About Brixmor Property Group
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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