Brixmor Property Group Inc (BRX) Expected to Announce Quarterly Sales of $304.37 Million

Equities analysts expect Brixmor Property Group Inc (NYSE:BRX) to announce sales of $304.37 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Brixmor Property Group’s earnings, with the highest sales estimate coming in at $322.68 million and the lowest estimate coming in at $292.68 million. Brixmor Property Group reported sales of $320.06 million during the same quarter last year, which suggests a negative year over year growth rate of 4.9%. The company is expected to issue its next earnings results on Monday, February 11th.

According to Zacks, analysts expect that Brixmor Property Group will report full-year sales of $1.24 billion for the current financial year, with estimates ranging from $1.22 billion to $1.27 billion. For the next financial year, analysts anticipate that the business will post sales of $1.22 billion, with estimates ranging from $1.16 billion to $1.31 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Brixmor Property Group.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $306.48 million for the quarter, compared to the consensus estimate of $301.87 million. Brixmor Property Group had a net margin of 28.54% and a return on equity of 12.47%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS.

Several equities analysts recently commented on the stock. Zacks Investment Research upgraded shares of Brixmor Property Group from a “sell” rating to a “hold” rating in a report on Thursday, October 25th. ValuEngine upgraded shares of Brixmor Property Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 30th. SunTrust Banks reiterated a “buy” rating and set a $20.00 price target on shares of Brixmor Property Group in a report on Wednesday, August 8th. KeyCorp upgraded shares of Brixmor Property Group from a “sector weight” rating to an “overweight” rating and set a $18.00 price target on the stock in a report on Monday, October 29th. Finally, Citigroup upped their price target on shares of Brixmor Property Group from $16.50 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $18.50.

Shares of NYSE:BRX opened at $15.71 on Friday. The stock has a market cap of $4.71 billion, a P/E ratio of 7.52, a PEG ratio of 2.05 and a beta of 0.47. Brixmor Property Group has a 12 month low of $13.74 and a 12 month high of $18.83. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.69 and a current ratio of 0.63.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Friday, January 4th will be paid a $0.28 dividend. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.28. This represents a $1.12 dividend on an annualized basis and a yield of 7.13%. The ex-dividend date is Thursday, January 3rd. Brixmor Property Group’s dividend payout ratio is currently 52.63%.

Hedge funds have recently modified their holdings of the business. Qube Research & Technologies Ltd bought a new position in Brixmor Property Group in the 2nd quarter worth about $124,000. Spirit of America Management Corp NY grew its stake in Brixmor Property Group by 143.5% in the 3rd quarter. Spirit of America Management Corp NY now owns 7,975 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 4,700 shares in the last quarter. Private Advisor Group LLC bought a new position in Brixmor Property Group in the 2nd quarter worth about $201,000. Signition LP bought a new position in Brixmor Property Group in the 2nd quarter worth about $222,000. Finally, Point72 Hong Kong Ltd bought a new position in Brixmor Property Group in the 2nd quarter worth about $258,000.

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 471 retail centers comprise approximately 80 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.

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