Brixmor Property Group (NYSE:BRX) Posts Earnings Results, Misses Estimates By $0.31 EPS

Brixmor Property Group (NYSE:BRX) announced its quarterly earnings results on Monday. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.31), FiscalAI reports. The firm had revenue of $359.60 million for the quarter, compared to analyst estimates of $357.28 million. During the same period in the previous year, the company earned $0.56 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis.

Brixmor Property Group Price Performance

Shares of BRX opened at $28.70 on Wednesday. The firm has a 50 day simple moving average of $28.28 and a 200-day simple moving average of $29.48. Brixmor Property Group has a 1-year low of $24.66 and a 1-year high of $32.86.

Brixmor Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Tuesday, January 5th will be given a $0.33 dividend. 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 4.6%. The ex-dividend date is Tuesday, January 5th.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BRX. KeyCorp restated an “overweight” rating and set a $34.00 target price on shares of Brixmor Property Group in a research report on Wednesday, October 7th. Wells Fargo & Company upgraded Brixmor Property Group to a “hold” rating in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Brixmor Property Group in a research note on Friday, July 31st. UBS Group dropped their price objective 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. Finally, Stifel Nicolaus reduced their price objective on Brixmor Property Group from $32.00 to $30.50 and set a “hold” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Brixmor Property Group presently has an average rating of “Moderate Buy” and a consensus price target of $33.14.

Brixmor Property Group Company Profile

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.