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

Brixmor Property Group (NYSE:BRX) released its earnings results on Monday. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.21), Zacks reports. Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The business had revenue of $320.68 million during the quarter, compared to analyst estimates of $320.22 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. 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 Stock Performance

Brixmor Property Group stock traded down $0.21 during midday trading on Tuesday, reaching $27.52. 3,652,549 shares of the stock traded hands, compared to its average volume of 2,287,718. Brixmor Property Group has a fifty-two week low of $19.88 and a fifty-two week high of $28.45. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.88. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 4.43 and a beta of 1.57. The firm has a fifty day moving average price of $27.52 and a two-hundred day moving average price of $24.64.

Analyst Ratings Changes

BRX has been the subject of several research analyst reports. Compass Point upped their price target on shares of Brixmor Property Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Mizuho increased their price target on Brixmor Property Group from $23.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, August 19th. Truist Financial raised their price objective on shares of Brixmor Property Group from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Scotiabank lifted their target price on Brixmor Property Group from $25.00 to $29.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Brixmor Property Group presently has an average rating of “Moderate Buy” and an average price target of $28.54.

Insider Buying and Selling at Brixmor Property Group

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

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.