Brixmor Property Group (NYSE:BRX) Issues Quarterly Earnings Results

Brixmor Property Group (NYSE:BRX) released its quarterly earnings data on Monday. The real estate investment trust reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01, Zacks reports. The firm had revenue of $359.60 million for the quarter, compared to analyst estimates of $357.28 million. Brixmor Property Group had a net margin of 30.82% and a return on equity of 14.38%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 earnings per share.

Brixmor Property Group Trading Up 0.1%

BRX stock traded up $0.04 on Monday, hitting $28.17. 3,029,103 shares of the company were exchanged, compared to its average volume of 2,744,631. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 2.18 and a beta of 0.97. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.82 and a quick ratio of 0.82. The business’s fifty day moving average is $28.32 and its two-hundred day moving average is $29.97. Brixmor Property Group has a twelve month low of $24.66 and a twelve month high of $32.86.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BRX. Truist Financial assumed coverage on shares of Brixmor Property Group in a report on Friday, October 2nd. They set a “buy” rating and a $31.00 price target for the company. KeyCorp reiterated an “overweight” rating and issued a $34.00 price objective on shares of Brixmor Property Group in a report on Wednesday, October 7th. Mizuho reduced their price target on shares of Brixmor Property Group from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. Piper Sandler decreased their price objective on Brixmor Property Group from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, October 12th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Brixmor Property Group in a report on Friday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.45.

Brixmor Property Group Company Profile

Brixmor Property Group Inc (NYSE: BRX) is a real estate investment trust that owns and operates open-air shopping centers across the United States. Its portfolio is primarily focused on grocery-anchored community and neighborhood centers located in established, densely populated markets.

The company leases retail space to a diverse mix of tenants, including grocery stores, restaurants, service businesses, health and wellness providers, and other essential retailers. Brixmor also manages property operations and pursues redevelopment, re-tenanting, and leasing initiatives designed to enhance the functionality and long-term value of its shopping centers.

Brixmor became a publicly traded company in 2013 after being separated from an ownership structure associated with Blackstone.