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

Key Points

• Brixmor Property Group reported an earnings per share (EPS) of $0.56, beating analysts' expectations of $0.55 by $0.01.
• The company announced a quarterly dividend of $0.2875 per share, yielding 4.50%, with a dividend payout ratio of 109.52%.
• Several analysts set new target prices for the stock, with a consensus target of $30.30, indicating a favorable outlook from multiple firms.

Brixmor Property Group (NYSE:BRX - Get Free Report) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.01, Zacks reports. Brixmor Property Group had a net margin of 24.58% and a return on equity of 10.97%.

Brixmor Property Group Stock Down 0.4%

NYSE BRX traded down $0.10 on Monday, reaching $25.53. The company had a trading volume of 3,163,634 shares, compared to its average volume of 2,421,098. The firm has a market capitalization of $7.81 billion, a PE ratio of 24.31, a P/E/G ratio of 2.66 and a beta of 1.23. Brixmor Property Group has a 1 year low of $22.28 and a 1 year high of $30.67. The firm has a 50-day moving average of $25.62 and a 200-day moving average of $25.90. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.75 and a quick ratio of 0.75.

Brixmor Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Wednesday, July 2nd were given a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.50%. The ex-dividend date of this dividend was Wednesday, July 2nd. Brixmor Property Group's dividend payout ratio (DPR) is presently 109.52%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Mizuho upgraded shares of Brixmor Property Group from a "neutral" rating to an "outperform" rating and set a $29.00 target price on the stock in a report on Thursday, July 17th. Scotiabank reduced their target price on shares of Brixmor Property Group from $30.00 to $29.00 and set a "sector outperform" rating on the stock in a report on Monday, May 12th. The Goldman Sachs Group reduced their target price on shares of Brixmor Property Group from $33.00 to $29.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, UBS Group assumed coverage on shares of Brixmor Property Group in a report on Friday, May 30th. They issued a "buy" rating and a $29.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.30.

Hedge Funds Weigh In On Brixmor Property Group

An institutional investor recently raised its position in Brixmor Property Group stock. Royal Bank of Canada boosted its stake in Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 39.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 203,615 shares of the real estate investment trust's stock after acquiring an additional 58,058 shares during the quarter. Royal Bank of Canada owned about 0.07% of Brixmor Property Group worth $5,405,000 at the end of the most recent reporting period. 98.43% of the stock is owned by institutional investors and hedge funds.

Brixmor Property Group Company Profile

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.

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