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 earnings per share guidance of 2.130-2.150 for the period, compared to the consensus earnings per share estimate of 2.130. The company issued revenue guidance of -. Brixmor Property Group also updated its FY24 guidance to $2.13-$2.15 EPS.

Brixmor Property Group Price Performance

Shares of BRX stock traded up $0.10 during mid-day trading on Wednesday, hitting $27.62. The company had a trading volume of 937,813 shares, compared to its average volume of 2,281,117. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.50 and a quick ratio of 1.50. The stock’s 50 day moving average price is $27.52 and its 200-day moving average price is $24.64. Brixmor Property Group has a 52-week low of $20.02 and a 52-week high of $28.45. The company has a market capitalization of $8.32 billion, a P/E ratio of 29.59, a P/E/G ratio of 4.43 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.21). The company had revenue of $320.68 million during the quarter, compared to analysts’ expectations of $320.22 million. Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. During the same quarter in the previous year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts forecast that Brixmor Property Group will post 2.13 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be paid a $0.287 dividend. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 3rd. This represents a $1.15 dividend on an annualized basis and a yield of 4.16%. Brixmor Property Group’s payout ratio is presently 117.20%.

Analyst Ratings Changes

A number of research firms recently weighed in on BRX. KeyCorp raised their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Scotiabank upped their target price on shares of Brixmor Property Group from $25.00 to $29.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Mizuho lifted their price target on Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. StockNews.com downgraded Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $33.00 target price (up previously from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.54.

Insider Activity

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the company’s stock in a transaction dated 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 directly owns 46,291 shares in the company, valued at $1,178,105.95. This represents 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. Insiders own 0.76% of the company’s stock.

Brixmor Property Group Company Profile

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.