Brixmor Property Group (NYSE:BRX) Announces Quarterly Earnings Results, Misses Estimates By $0.22 EPS

Brixmor Property Group (NYSE:BRX) released its earnings results on Tuesday. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22), Yahoo Finance reports. The firm had revenue of $320.24 million for the quarter, compared to analyst estimates of $314.82 million. Brixmor Property Group had a return on equity of 9.84% and a net margin of 22.47%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.50 EPS.

Brixmor Property Group Trading Up 0.4 %

Shares of BRX stock opened at $22.19 on Thursday. The company has a quick ratio of 0.58, a current ratio of 1.45 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $6.69 billion, a P/E ratio of 23.86, a P/E/G ratio of 2.66 and a beta of 1.53. Brixmor Property Group has a 12-month low of $19.40 and a 12-month high of $24.47. The firm has a 50-day moving average price of $22.30 and a 200 day moving average price of $22.22.

Brixmor Property Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Tuesday, July 2nd will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend is Tuesday, July 2nd. Brixmor Property Group’s dividend payout ratio (DPR) is currently 117.21%.

Insider Transactions at Brixmor Property Group

In related news, Director Michael B. Berman sold 10,475 shares of Brixmor Property Group stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $22.82, for a total value of $239,039.50. Following the completion of the transaction, the director now directly owns 40,556 shares of the company’s stock, valued at $925,487.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Brixmor Property Group news, insider Brian T. Finnegan sold 7,500 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $23.00, for a total transaction of $172,500.00. Following the transaction, the insider now directly owns 225,051 shares in the company, valued at approximately $5,176,173. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael B. Berman sold 10,475 shares of Brixmor Property Group stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $22.82, for a total transaction of $239,039.50. Following the sale, the director now directly owns 40,556 shares of the company’s stock, valued at approximately $925,487.92. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Stifel Nicolaus lifted their price objective on Brixmor Property Group from $22.75 to $24.00 and gave the stock a “hold” rating in a research note on Tuesday, February 13th. Truist Financial reaffirmed a “buy” rating and issued a $25.00 price target on shares of Brixmor Property Group in a research report on Monday, March 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Brixmor Property Group in a research note on Tuesday, January 30th. They issued a “buy” rating and a $27.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on shares of Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, March 27th. Finally, Mizuho restated a “neutral” rating and issued a $24.00 target price (up from $23.00) on shares of Brixmor Property Group in a research note on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.38.

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.