Brixmor Property Group (NYSE:BRX) Posts Earnings Results, Misses Estimates By $0.21 EPS

Brixmor Property Group (NYSE:BRX) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.21), Zacks reports. The company had revenue of $320.68 million during 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 revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. 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 Trading Down 0.8 %

Shares of NYSE:BRX traded down $0.21 during trading on Tuesday, reaching $27.52. 3,652,549 shares of the stock were exchanged, compared to its average volume of 2,287,718. The firm’s 50-day moving average price is $27.52 and its 200 day moving average price is $24.64. The firm has a market cap 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 12-month low of $19.88 and a 12-month high of $28.45. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.50 and a current ratio of 1.50.

Insider Activity at Brixmor Property Group

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BRX. Compass Point boosted their target price on shares of Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. The Goldman Sachs Group boosted their price objective on shares of Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus raised their target price on shares of Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a research report on Tuesday. Truist Financial lifted their target price on shares of Brixmor Property Group from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, KeyCorp increased their price target on Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock 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.