Brixmor Property Group (NYSE:BRX) Announces Quarterly Earnings Results

Brixmor Property Group (NYSE:BRX) issued its earnings results on Monday. The real estate investment trust reported $0.28 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.31), FiscalAI reports. Brixmor Property Group had a return on equity of 14.10% and a net margin of 29.96%. The business had revenue of $359.60 million during the quarter, compared to analyst estimates of $357.28 million. During the same period last year, the business earned $0.56 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis.

Brixmor Property Group Price Performance

Shares of BRX stock opened at $29.13 on Friday. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 2.25 and a beta of 0.97. The company has a quick ratio of 0.82, a current ratio of 0.81 and a debt-to-equity ratio of 1.76. The business’s fifty day moving average is $28.24 and its 200 day moving average is $29.52. Brixmor Property Group has a twelve month low of $24.66 and a twelve month high of $32.86.

Brixmor Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, January 5th will be given a dividend of $0.33 per share. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.3075. This represents a $1.32 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Tuesday, January 5th. Brixmor Property Group’s dividend payout ratio is presently 89.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. KeyCorp restated an “overweight” rating and issued a $34.00 price objective on shares of Brixmor Property Group in a research note on Wednesday, October 7th. Citigroup boosted their price objective on shares of Brixmor Property Group from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. UBS Group reduced their target price on Brixmor Property Group from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, October 9th. Truist Financial started coverage on Brixmor Property Group in a research report on Friday, October 2nd. They set a “buy” rating and a $31.00 target price for the company. Finally, Wells Fargo & Company upgraded Brixmor Property Group to a “hold” rating in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $33.14.

About Brixmor Property Group

Brixmor Property Group Inc (NYSE: BRX) is a real estate investment trust that owns and operates open-air shopping centers across the United States. Its portfolio is primarily focused on grocery-anchored community and neighborhood centers located in established, densely populated markets.

The company leases retail space to a diverse mix of tenants, including grocery stores, restaurants, service businesses, health and wellness providers, and other essential retailers. Brixmor also manages property operations and pursues redevelopment, re-tenanting, and leasing initiatives designed to enhance the functionality and long-term value of its shopping centers.

Brixmor became a publicly traded company in 2013 after being separated from an ownership structure associated with Blackstone.