Brixmor Property Group (NYSE:BRX) Issues FY24 Earnings Guidance

Brixmor Property Group (NYSE:BRX) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.11-2.14 for the period, compared to the consensus estimate of $2.10. Brixmor Property Group also updated its FY 2024 guidance to 2.110-2.140 EPS.

Brixmor Property Group Trading Down 1.1 %

Shares of NYSE:BRX traded down $0.30 during mid-day trading on Wednesday, reaching $26.08. 345,840 shares of the company were exchanged, compared to its average volume of 2,348,347. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.45 and a quick ratio of 1.45. Brixmor Property Group has a 1 year low of $19.46 and a 1 year high of $26.41. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 4.32 and a beta of 1.57. The firm’s 50-day simple moving average is $22.96 and its 200 day simple moving average is $22.60.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.29). The business had revenue of $315.69 million for the quarter, compared to analysts’ expectations of $317.75 million. Brixmor Property Group had a return on equity of 10.33% and a net margin of 23.45%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.52 earnings per share. Equities research analysts forecast that Brixmor Property Group will post 2.11 EPS for the current year.

Brixmor Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.2725 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.09 annualized dividend and a yield of 4.18%. Brixmor Property Group’s dividend payout ratio is currently 117.21%.

Wall Street Analyst Weigh In

BRX has been the subject of several analyst reports. StockNews.com downgraded shares of Brixmor Property Group from a buy rating to a hold rating in a research note on Monday. Compass Point increased their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock a buy rating in a report on Wednesday. Piper Sandler reissued an overweight rating and set a $33.00 target price (up from $30.00) on shares of Brixmor Property Group in a report on Wednesday. Wells Fargo & Company dropped their price objective 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. Finally, Mizuho dropped their price objective 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. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $26.35.

Insider Buying and Selling at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.