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 EPS guidance of 2.080-2.110 for the period, compared to the consensus EPS 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 Price Performance

Brixmor Property Group stock opened at $22.19 on Thursday. The business’s 50 day simple moving average is $22.30 and its 200 day simple moving average is $22.22. Brixmor Property Group has a 12 month low of $19.40 and a 12 month high of $24.47. The company 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. The company has a current ratio of 1.45, a quick ratio of 0.58 and a debt-to-equity ratio of 1.86.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22). Brixmor Property Group had a net margin of 22.47% and a return on equity of 9.84%. The firm had revenue of $320.24 million for the quarter, compared to analysts’ expectations of $314.82 million. During the same period in the prior year, the company earned $0.50 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Sell-side analysts forecast that Brixmor Property Group will post 2.09 EPS for the current year.

Brixmor Property Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Tuesday, July 2nd will be given a $0.2725 dividend. This represents a $1.09 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend is Tuesday, July 2nd. Brixmor Property Group’s dividend payout ratio (DPR) is currently 117.21%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, insider Brian T. Finnegan sold 7,500 shares of the company’s 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 transaction, the insider now directly owns 225,051 shares in the company, valued at $5,176,173. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Brixmor Property Group news, Director Michael B. Berman sold 10,475 shares of Brixmor Property Group stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total transaction of $239,039.50. Following the transaction, the director now directly owns 40,556 shares of the company’s stock, valued at $925,487.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian T. Finnegan sold 7,500 shares of the stock in a transaction on Friday, March 8th. The shares were 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 in the company, valued at approximately $5,176,173. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

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.