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 2.110-2.140 for the period, compared to the consensus EPS estimate of 2.100. The company issued revenue guidance of -. Brixmor Property Group also updated its FY24 guidance to $2.11-2.14 EPS.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Brixmor Property Group from $27.00 to $26.00 and set an overweight rating on the stock in a research report on Monday, May 13th. Wells Fargo & Company reduced their target price on Brixmor Property Group from $25.00 to $24.00 and set an equal weight rating on the stock in a research report on Tuesday, May 28th. Mizuho reduced their target price on Brixmor Property Group from $24.00 to $23.00 and set a neutral rating on the stock in a research report on Thursday, May 23rd. Finally, StockNews.com upgraded Brixmor Property Group from a hold rating to a buy rating in a research report on Monday, July 1st. Three research analysts have rated the stock with a hold rating and six 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 an average price target of $25.13.

Brixmor Property Group Stock Up 0.7 %

Shares of BRX traded up $0.16 during mid-day trading on Monday, reaching $24.72. The company’s stock had a trading volume of 2,184,035 shares, compared to its average volume of 2,343,692. Brixmor Property Group has a 12-month low of $19.46 and a 12-month high of $24.97. The stock has a market cap of $7.45 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 4.29 and a beta of 1.57. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.45 and a quick ratio of 1.45. The company’s 50 day moving average is $22.82 and its 200 day moving average is $22.56.

Brixmor Property Group (NYSE:BRX) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22). The firm had revenue of $320.24 million during the quarter, compared to analyst estimates of $314.82 million. Brixmor Property Group had a net margin of 22.47% and a return on equity of 9.84%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. Equities analysts anticipate that Brixmor Property Group will post 2.11 EPS for the current fiscal year.

Insider Activity at Brixmor Property Group

In related news, insider Steven F. Siegel sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the sale, the insider now directly owns 360,004 shares of the company’s stock, valued at approximately $8,640,096. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.