Brixmor Property Group (NYSE:BRX) Issues FY24 Earnings Guidance

Brixmor Property Group (NYSE:BRX) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.08-$2.11 for the period, compared to the consensus estimate of $2.08. Brixmor Property Group also updated its FY 2024 guidance to 2.080-2.110 EPS.

Analyst Ratings Changes

BRX has been the topic of several research reports. Mizuho restated a neutral rating and issued a $24.00 price target (up previously from $23.00) on shares of Brixmor Property Group in a report on Friday, February 23rd. Truist Financial reissued a buy rating and issued a $25.00 price objective on shares of Brixmor Property Group in a research report on Monday, March 25th. The Goldman Sachs Group lowered their price objective on Brixmor Property Group from $28.00 to $27.00 and set a buy rating for the company in a research note on Wednesday, March 27th. Stifel Nicolaus increased their target price on Brixmor Property Group from $22.75 to $24.00 and gave the company a hold rating in a research note on Tuesday, February 13th. Finally, Deutsche Bank Aktiengesellschaft initiated 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 target for the company. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $25.38.

Brixmor Property Group Price Performance

NYSE:BRX traded up $0.52 during mid-day trading on Tuesday, reaching $22.67. 782,589 shares of the stock were exchanged, compared to its average volume of 2,538,380. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.73. The business has a fifty day moving average price of $22.33 and a 200 day moving average price of $22.21. Brixmor Property Group has a 1-year low of $19.40 and a 1-year high of $24.47. The firm has a market capitalization of $6.83 billion, a PE ratio of 21.93, a PEG ratio of 2.62 and a beta of 1.53.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Monday, April 29th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.22). Brixmor Property Group had a net margin of 24.50% and a return on equity of 10.63%. The firm had revenue of $320.24 million during the quarter, compared to analysts’ expectations of $314.82 million. During the same quarter last year, the company posted $0.50 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. Research analysts expect that Brixmor Property Group will post 2.09 earnings per share for the current fiscal year.

Brixmor Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Tuesday, April 2nd were paid a $0.273 dividend. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.09 annualized dividend and a yield of 4.82%. The ex-dividend date of this dividend was Monday, April 1st. Brixmor Property Group’s dividend payout ratio is currently 107.92%.

Insider Buying and Selling at Brixmor Property Group

In other Brixmor Property Group 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 owns 225,051 shares in the company, valued at approximately $5,176,173. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Michael B. Berman sold 10,475 shares of the firm’s 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 owns 40,556 shares of the company’s stock, valued at $925,487.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Brian T. Finnegan sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $23.00, for a total transaction of $172,500.00. Following the completion of the sale, the insider now directly owns 225,051 shares of the company’s stock, valued at $5,176,173. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.

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 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.