Brixmor Property Group (NYSE:BRX) Issues FY 2024 Earnings Guidance

Brixmor Property Group (NYSE:BRX) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 2.110-2.140 for the period, compared to the consensus EPS estimate of 2.100. The company issued revenue guidance of -. Brixmor Property Group also updated its FY24 guidance to $2.11-2.14 EPS.

Brixmor Property Group Price Performance

Shares of Brixmor Property Group stock traded up $0.16 on Monday, reaching $24.72. The stock had a trading volume of 2,184,035 shares, compared to its average volume of 2,343,692. Brixmor Property Group has a 1 year low of $19.46 and a 1 year high of $24.97. The company has a market cap of $7.45 billion, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 4.29 and a beta of 1.57. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.86. The business’s 50 day moving average is $22.82 and its two-hundred day moving average is $22.56.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22). Brixmor Property Group had a net margin of 22.47% and a return on equity of 9.84%. The business had revenue of $320.24 million for the quarter, compared to the consensus estimate of $314.82 million. During the same quarter in the previous year, the business earned $0.50 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, research analysts anticipate that Brixmor Property Group will post 2.11 EPS for the current year.

Analysts Set New Price Targets

BRX has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on shares of Brixmor Property Group from $25.00 to $24.00 and set an equal weight rating on the stock in a report on Tuesday, May 28th. StockNews.com upgraded shares of Brixmor Property Group from a hold rating to a buy rating in a report on Monday, July 1st. Mizuho cut their target price on shares of Brixmor Property Group from $24.00 to $23.00 and set a neutral rating on the stock in a report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. dropped their price target on Brixmor Property Group from $27.00 to $26.00 and set an overweight rating for the company in a research note on Monday, May 13th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Brixmor Property Group presently has an average rating of Moderate Buy and a consensus price target of $25.13.

Insider Buying and Selling at Brixmor Property Group

In other news, insider Steven F. Siegel sold 10,000 shares of Brixmor Property Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the transaction, the insider now owns 360,004 shares of the company’s stock, valued at approximately $8,640,096. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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.