Brixmor Property Group (NYSE:BRX) Issues FY 2024 Earnings Guidance

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

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Stifel Nicolaus increased their price target on shares of Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a research note on Tuesday. StockNews.com cut Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Scotiabank raised their price objective on Brixmor Property Group from $25.00 to $29.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Piper Sandler reissued an “overweight” rating and issued a $33.00 target price (up from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their price target on Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Brixmor Property Group has a consensus rating of “Moderate Buy” and a consensus target price of $28.54.

Brixmor Property Group Stock Performance

BRX traded down $0.43 during trading on Thursday, hitting $27.21. The company’s stock had a trading volume of 1,082,453 shares, compared to its average volume of 2,283,075. The business’s 50 day simple moving average is $27.54 and its 200-day simple moving average is $24.66. The firm has a market cap of $8.20 billion, a PE ratio of 29.67, a P/E/G ratio of 4.43 and a beta of 1.57. Brixmor Property Group has a one year low of $20.02 and a one year high of $28.45. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.88.

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

Brixmor Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be paid a $0.287 dividend. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.22%. Brixmor Property Group’s dividend payout ratio is 117.20%.

Insider Activity at Brixmor Property Group

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total transaction of $127,250.00. Following the completion of the sale, the director now directly owns 46,291 shares of the company’s stock, valued at $1,178,105.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.76% of the stock is owned by corporate insiders.

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.