Brixmor Property Group (NYSE:BRX) Releases 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 2.080-2.110 for the period, compared to the consensus earnings per share estimate of 2.080. The company issued revenue guidance of -. Brixmor Property Group also updated its FY24 guidance to $2.08-$2.11 EPS.

Brixmor Property Group Trading Up 1.3 %

Shares of NYSE:BRX traded up $0.29 during trading hours on Tuesday, hitting $22.44. 1,217,794 shares of the company’s stock traded hands, compared to its average volume of 2,544,129. Brixmor Property Group has a 1 year low of $19.40 and a 1 year high of $24.47. The business has a fifty day moving average price of $22.33 and a 200-day moving average price of $22.21. The firm has a market capitalization of $6.76 billion, a P/E ratio of 21.93, a price-to-earnings-growth ratio of 2.62 and a beta of 1.53. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.58 and a quick ratio of 0.58.

Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, April 29th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.22). Brixmor Property Group had a net margin of 24.50% and a return on equity of 10.63%. The business had revenue of $320.24 million for the quarter, compared to analysts’ expectations of $314.82 million. During the same quarter last year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. Equities analysts expect that Brixmor Property Group will post 2.09 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd were given a dividend of $0.273 per share. This represents a $1.09 annualized dividend and a dividend yield of 4.87%. The ex-dividend date was Monday, April 1st. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s payout ratio is 107.92%.

Wall Street Analysts Forecast Growth

BRX has been the subject of several recent analyst reports. Stifel Nicolaus boosted their target price on Brixmor Property Group from $22.75 to $24.00 and gave the company a hold rating in a research report on Tuesday, February 13th. The Goldman Sachs Group decreased their price target on shares of Brixmor Property Group from $28.00 to $27.00 and set a buy rating for the company in a research note on Wednesday, March 27th. Truist Financial reaffirmed a buy rating and set a $25.00 price target on shares of Brixmor Property Group in a research note on Monday, March 25th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Brixmor Property Group in a research note on Tuesday, January 30th. They set a buy rating and a $27.00 price target for the company. Finally, Mizuho reaffirmed a neutral rating and set a $24.00 price target (up previously from $23.00) on shares of Brixmor Property Group in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Brixmor Property Group has an average rating of Moderate Buy and an average target price of $25.38.

Insiders Place Their Bets

In other Brixmor Property Group news, insider Brian T. Finnegan sold 7,500 shares of Brixmor Property Group stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.00, for a total value of $172,500.00. Following the transaction, the insider now directly owns 225,051 shares of the company’s stock, valued at $5,176,173. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Brixmor Property Group news, insider Brian T. Finnegan sold 7,500 shares of Brixmor Property Group stock in a transaction on Friday, March 8th. The shares were sold at an average price of $23.00, for a total value of $172,500.00. Following the transaction, the insider now directly owns 225,051 shares of the company’s stock, valued at $5,176,173. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael B. Berman sold 10,475 shares of Brixmor Property Group stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $22.82, for a total transaction of $239,039.50. Following the completion of the transaction, the director now directly owns 40,556 shares in the company, valued at $925,487.92. The disclosure for this sale can be found here. 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.