Brixmor Property Group (NYSE:BRX) Posts Earnings Results, Beats Estimates By $0.01 EPS

Brixmor Property Group (NYSE:BRX) released its quarterly earnings results on Monday. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01, Zacks reports. The firm had revenue of $359.60 million during the quarter, compared to analyst estimates of $357.28 million. Brixmor Property Group had a net margin of 30.82% and a return on equity of 14.38%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 EPS.

Brixmor Property Group Stock Performance

Brixmor Property Group stock opened at $28.17 on Tuesday. The firm’s fifty day moving average price is $28.30 and its 200-day moving average price is $29.46. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $8.64 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 2.18 and a beta of 0.97. Brixmor Property Group has a fifty-two week low of $24.66 and a fifty-two week high of $32.86.

Brixmor Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Tuesday, January 5th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, January 5th. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.3075. Brixmor Property Group’s payout ratio is currently 87.86%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BRX. Truist Financial assumed coverage on Brixmor Property Group in a research report on Friday, October 2nd. They issued a “buy” rating and a $31.00 price objective on the stock. KeyCorp restated an “overweight” rating and set a $34.00 target price on shares of Brixmor Property Group in a research report on Wednesday, October 7th. Citigroup upped their target price on Brixmor Property Group from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Piper Sandler decreased their target price on Brixmor Property Group from $40.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Finally, Wells Fargo & Company raised Brixmor Property Group to a “hold” rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $33.45.

About Brixmor Property Group

Brixmor Property Group Inc (NYSE: BRX) is a real estate investment trust that owns and operates open-air shopping centers across the United States. Its portfolio is primarily focused on grocery-anchored community and neighborhood centers located in established, densely populated markets.

The company leases retail space to a diverse mix of tenants, including grocery stores, restaurants, service businesses, health and wellness providers, and other essential retailers. Brixmor also manages property operations and pursues redevelopment, re-tenanting, and leasing initiatives designed to enhance the functionality and long-term value of its shopping centers.

Brixmor became a publicly traded company in 2013 after being separated from an ownership structure associated with Blackstone.