Brixmor Property Group (NYSE:BRX) Announces Quarterly Earnings Results, Misses Expectations By $0.21 EPS

Brixmor Property Group (NYSE:BRX) posted its earnings results on Monday. The real estate investment trust reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21), Zacks reports. The firm had revenue of $320.68 million for the quarter, compared to analyst estimates of $320.22 million. Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 EPS. Brixmor Property Group updated its FY24 guidance to $2.13-$2.15 EPS and its FY 2024 guidance to 2.130-2.150 EPS.

Brixmor Property Group Price Performance

Shares of NYSE BRX traded down $0.21 during midday trading on Tuesday, hitting $27.52. The company had a trading volume of 3,652,549 shares, compared to its average volume of 2,287,718. The firm has a market capitalization of $8.29 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 4.43 and a beta of 1.57. Brixmor Property Group has a twelve month low of $19.88 and a twelve month high of $28.45. The business has a 50-day simple moving average of $27.52 and a two-hundred day simple moving average of $24.64. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.88.

Insiders Place Their Bets

In other news, Director Sheryl Maxwell Crosland sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 46,291 shares of the company’s stock, valued at $1,178,105.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and issued a $33.00 target price (up from $30.00) on shares of Brixmor Property Group in a research note on Wednesday, July 31st. Scotiabank boosted their target price on Brixmor Property Group from $25.00 to $29.00 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Wells Fargo & Company increased their price target on Brixmor Property Group from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Finally, Truist Financial boosted their price objective on shares of Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.54.

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.