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

Brixmor Property Group (NYSE:BRX) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $2.13-$2.15 for the period, compared to the consensus earnings per share estimate of $2.13. Brixmor Property Group also updated its FY 2024 guidance to 2.130-2.150 EPS.

Wall Street Analysts Forecast Growth

BRX has been the topic of several research analyst reports. Truist Financial increased their price target on Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 16th. The Goldman Sachs Group boosted their price target on Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Stifel Nicolaus boosted their price target on Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a report on Tuesday. Finally, Evercore ISI raised their price objective on Brixmor Property Group from $27.00 to $28.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.54.

Brixmor Property Group Price Performance

Shares of NYSE:BRX traded down $0.02 during mid-day trading on Wednesday, reaching $27.50. The stock had a trading volume of 714,255 shares, compared to its average volume of 2,280,225. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.88. Brixmor Property Group has a 1 year low of $20.02 and a 1 year high of $28.45. The business’s 50 day moving average price is $27.52 and its 200 day moving average price is $24.64. The company has a market cap of $8.29 billion, a P/E ratio of 29.59, a price-to-earnings-growth ratio of 4.43 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.21). The company had revenue of $320.68 million for the quarter, compared to the consensus estimate of $320.22 million. Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 earnings per share. Research analysts expect that Brixmor Property Group will post 2.13 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be given a $0.287 dividend. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Friday, January 3rd. Brixmor Property Group’s dividend payout ratio is 117.20%.

Insider Transactions at Brixmor Property Group

In other news, Director Sheryl Maxwell Crosland sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total transaction of $127,250.00. Following the transaction, the director now owns 46,291 shares in the company, valued at approximately $1,178,105.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate 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.