Brixmor Property Group (NYSE:BRX) Issues Quarterly Earnings Results


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Brixmor Property Group (NYSE:BRX) posted its quarterly earnings results on Sunday. The real estate investment trust reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.22), MarketWatch Earnings reports. Brixmor Property Group had a return on equity of 6.07% and a net margin of 14.75%. The business had revenue of $279.75 million during the quarter, compared to the consensus estimate of $265.51 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year.

BRX traded down $0.21 during trading on Tuesday, reaching $22.09. The company had a trading volume of 2,313,413 shares, compared to its average volume of 2,460,089. The stock has a market cap of $6.56 billion, a P/E ratio of 42.08 and a beta of 1.63. The business has a 50 day simple moving average of $20.92 and a 200-day simple moving average of $17.49. Brixmor Property Group has a 52 week low of $8.70 and a 52 week high of $22.90. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 2.02.

The business also recently declared a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Monday, April 5th were given a $0.215 dividend. The ex-dividend date was Thursday, April 1st. This represents a $0.86 dividend on an annualized basis and a yield of 3.89%. Brixmor Property Group’s dividend payout ratio is presently 45.03%.

In other Brixmor Property Group news, CFO Angela M. Aman sold 7,500 shares of the stock in a transaction on Monday, April 26th. The stock was sold at an average price of $22.00, for a total value of $165,000.00. Following the sale, the chief financial officer now owns 102,469 shares in the company, valued at $2,254,318. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Carolyn Carter Singh sold 5,000 shares of the stock in a transaction on Monday, April 26th. The stock was sold at an average price of $22.00, for a total value of $110,000.00. Following the completion of the sale, the insider now owns 233,768 shares in the company, valued at approximately $5,142,896. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,000 shares of company stock worth $636,800. Insiders own 0.44% of the company’s stock.

Several research firms have weighed in on BRX. Mizuho upped their price target on Brixmor Property Group from $16.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 23rd. Deutsche Bank Aktiengesellschaft upped their price target on Brixmor Property Group from $17.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, April 15th. Truist increased their target price on Brixmor Property Group from $17.00 to $20.00 in a research report on Friday, March 5th. Zacks Investment Research downgraded Brixmor Property Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 14th. Finally, Bank of America upgraded Brixmor Property Group from a “neutral” rating to a “buy” rating and increased their target price for the company from $17.00 to $18.50 in a research report on Tuesday, January 19th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. Brixmor Property Group presently has a consensus rating of “Hold” and an average target price of $16.23.

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 395 retail centers comprise approximately 69 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.

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Earnings History for Brixmor Property Group (NYSE:BRX)

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