Brokerages Expect Brixmor Property Group Inc (NYSE:BRX) Will Announce Quarterly Sales of $295.08 Million

Wall Street brokerages expect Brixmor Property Group Inc (NYSE:BRX) to report sales of $295.08 million for the current quarter, Zacks reports. Five analysts have made estimates for Brixmor Property Group’s earnings, with estimates ranging from $290.58 million to $299.33 million. Brixmor Property Group reported sales of $297.66 million during the same quarter last year, which indicates a negative year over year growth rate of 0.9%. The firm is scheduled to announce its next quarterly earnings report on Monday, February 10th.

According to Zacks, analysts expect that Brixmor Property Group will report full year sales of $1.17 billion for the current year, with estimates ranging from $1.17 billion to $1.18 billion. For the next year, analysts anticipate that the business will report sales of $1.19 billion, with estimates ranging from $1.19 billion to $1.20 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Brixmor Property Group.

Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.20). Brixmor Property Group had a net margin of 24.75% and a return on equity of 10.41%. The business had revenue of $292.97 million during the quarter, compared to analysts’ expectations of $290.51 million. During the same quarter in the prior year, the firm earned $0.42 EPS. Brixmor Property Group’s revenue for the quarter was down 4.4% compared to the same quarter last year.

Several analysts recently issued reports on the stock. Barclays restated a “hold” rating and issued a $21.00 price objective on shares of Brixmor Property Group in a report on Sunday, October 13th. Evercore ISI lowered shares of Brixmor Property Group from an “outperform” rating to an “in-line” rating in a research note on Wednesday, November 27th. ValuEngine raised shares of Brixmor Property Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research upgraded shares of Brixmor Property Group from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Tuesday, October 29th. Finally, Scotiabank cut shares of Brixmor Property Group from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $20.00 to $19.00 in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Brixmor Property Group presently has a consensus rating of “Hold” and a consensus target price of $20.28.

In other Brixmor Property Group news, insider Steven F. Siegel sold 7,500 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $22.01, for a total transaction of $165,075.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian T. Finnegan sold 3,000 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $22.24, for a total transaction of $66,720.00. Following the sale, the insider now owns 224,646 shares in the company, valued at $4,996,127.04. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Several large investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan raised its position in Brixmor Property Group by 1.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 55,210 shares of the real estate investment trust’s stock valued at $987,000 after purchasing an additional 550 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of Brixmor Property Group by 2.8% during the second quarter. Private Advisor Group LLC now owns 23,469 shares of the real estate investment trust’s stock worth $420,000 after buying an additional 643 shares during the period. Profund Advisors LLC raised its holdings in Brixmor Property Group by 2.0% in the second quarter. Profund Advisors LLC now owns 44,044 shares of the real estate investment trust’s stock valued at $788,000 after acquiring an additional 849 shares in the last quarter. Zeke Capital Advisors LLC raised its holdings in Brixmor Property Group by 1.0% in the second quarter. Zeke Capital Advisors LLC now owns 85,833 shares of the real estate investment trust’s stock valued at $1,535,000 after acquiring an additional 883 shares in the last quarter. Finally, Glen Harbor Capital Management LLC lifted its stake in Brixmor Property Group by 0.4% in the second quarter. Glen Harbor Capital Management LLC now owns 325,920 shares of the real estate investment trust’s stock worth $5,827,000 after acquiring an additional 1,168 shares during the last quarter. Institutional investors and hedge funds own 99.20% of the company’s stock.

Shares of NYSE BRX traded up $0.29 during mid-day trading on Thursday, reaching $21.69. 2,333,680 shares of the company’s stock were exchanged, compared to its average volume of 3,107,636. The company’s 50-day moving average is $21.59 and its 200-day moving average is $19.37. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.50 and a current ratio of 0.50. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 2.44 and a beta of 0.73. Brixmor Property Group has a 52-week low of $14.11 and a 52-week high of $22.74.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, January 6th will be paid a dividend of $0.285 per share. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, January 3rd. This represents a $1.14 annualized dividend and a yield of 5.26%. Brixmor Property Group’s dividend payout ratio is presently 60.54%.

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 425 retail centers comprise approximately 74 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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