FY2018 Earnings Forecast for Brixmor Property Group Inc. Issued By KeyCorp (BRX)
Brixmor Property Group Inc. (NYSE:BRX) – Stock analysts at KeyCorp dropped their FY2018 earnings per share estimates for shares of Brixmor Property Group in a research note issued on Thursday. KeyCorp analyst T. Thomas now forecasts that the real estate investment trust will post earnings of $1.99 per share for the year, down from their previous estimate of $2.08. KeyCorp has a “Hold” rating on the stock.
Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.24). The company had revenue of $314.50 million for the quarter, compared to analysts’ expectations of $317.31 million. Brixmor Property Group had a return on equity of 11.08% and a net margin of 25.14%. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS.
Several other research firms also recently issued reports on BRX. Mizuho upgraded Brixmor Property Group from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Monday, August 14th. Barclays restated a “hold” rating and set a $22.00 target price on shares of Brixmor Property Group in a research report on Monday, August 14th. Boenning Scattergood upgraded Brixmor Property Group from a “neutral” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Tuesday, September 12th. BMO Capital Markets began coverage on Brixmor Property Group in a research report on Monday, September 11th. They set a “market perform” rating and a $20.00 target price on the stock. Finally, ValuEngine downgraded Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Brixmor Property Group currently has an average rating of “Hold” and an average price target of $21.94.
Brixmor Property Group (BRX) traded up $0.27 during trading hours on Monday, hitting $18.08. The company’s stock had a trading volume of 3,623,378 shares, compared to its average volume of 2,858,716. The stock has a market capitalization of $5,467.52, a P/E ratio of 8.50, a P/E/G ratio of 1.93 and a beta of 0.52. Brixmor Property Group has a 12-month low of $17.23 and a 12-month high of $25.34. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, January 4th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date of this dividend is Wednesday, January 3rd. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.26. Brixmor Property Group’s dividend payout ratio (DPR) is 98.11%.
Brixmor Property Group declared that its board has approved a share buyback plan on Tuesday, December 5th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other Brixmor Property Group news, EVP Mark Horgan acquired 3,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were bought at an average price of $17.64 per share, for a total transaction of $52,920.00. Following the completion of the transaction, the executive vice president now owns 56,703 shares of the company’s stock, valued at approximately $1,000,240.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.27% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Brixmor Property Group by 35.0% in the second quarter. BlackRock Inc. now owns 29,066,747 shares of the real estate investment trust’s stock valued at $519,713,000 after acquiring an additional 7,543,528 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Brixmor Property Group by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 17,222,816 shares of the real estate investment trust’s stock valued at $325,682,000 after acquiring an additional 383,162 shares during the last quarter. State Street Corp increased its stake in Brixmor Property Group by 12.0% in the second quarter. State Street Corp now owns 10,792,595 shares of the real estate investment trust’s stock valued at $192,965,000 after acquiring an additional 1,159,181 shares during the last quarter. Lasalle Investment Management Securities LLC increased its stake in Brixmor Property Group by 4.5% in the second quarter. Lasalle Investment Management Securities LLC now owns 9,125,790 shares of the real estate investment trust’s stock valued at $163,169,000 after acquiring an additional 393,226 shares during the last quarter. Finally, Brookfield Asset Management Inc. increased its stake in Brixmor Property Group by 15.9% in the second quarter. Brookfield Asset Management Inc. now owns 6,618,651 shares of the real estate investment trust’s stock valued at $118,341,000 after acquiring an additional 908,572 shares during the last quarter. 98.57% of the stock is currently owned by institutional investors and hedge funds.
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About Brixmor Property Group
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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