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

Key Points

• Brixmor Property Group met quarterly earnings expectations, reporting $0.24 in earnings per share versus the $0.24 consensus estimate. Revenue totaled $354.20 million, slightly below analysts’ $354.39 million forecast.
• BRX shares traded near their 52-week high at $32.34, with a market capitalization of approximately $9.92 billion. The stock has risen above both its 50-day and 200-day moving averages.
• Analyst sentiment remains positive: the company has a consensus “Buy” rating and a $33.75 price target, while institutional investors own 98.43% of its shares.

Brixmor Property Group (NYSE:BRX - Get Free Report) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.24 earnings per share for the quarter, hitting analysts' consensus estimates of $0.24, FiscalAI reports. Brixmor Property Group had a return on equity of 14.85% and a net margin of 31.99%.The business had revenue of $354.20 million for the quarter, compared to analyst estimates of $354.39 million.

Brixmor Property Group Price Performance

Shares of NYSE BRX traded down $0.10 during mid-day trading on Monday, reaching $32.34. The company's stock had a trading volume of 2,608,864 shares, compared to its average volume of 2,683,233. The stock has a 50-day moving average of $31.34 and a two-hundred day moving average of $29.71. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.31 and a current ratio of 1.31. The stock has a market capitalization of $9.92 billion, a P/E ratio of 22.46, a P/E/G ratio of 2.72 and a beta of 0.98. Brixmor Property Group has a 1-year low of $24.66 and a 1-year high of $32.86.

Institutional Trading of Brixmor Property Group

Several large investors have recently bought and sold shares of BRX. Loomis Sayles & Co. L P lifted its stake in Brixmor Property Group by 1,215.1% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,223 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 1,130 shares in the last quarter. Prosperity Bancshares Inc purchased a new stake in shares of Brixmor Property Group in the fourth quarter valued at approximately $43,000. EverSource Wealth Advisors LLC grew its position in shares of Brixmor Property Group by 43.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,835 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 557 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of Brixmor Property Group by 695.5% in the third quarter. CIBC Private Wealth Group LLC now owns 2,307 shares of the real estate investment trust's stock valued at $64,000 after purchasing an additional 2,017 shares during the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of Brixmor Property Group by 17.4% in the third quarter. Parallel Advisors LLC now owns 2,681 shares of the real estate investment trust's stock valued at $74,000 after purchasing an additional 398 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on BRX shares. UBS Group upped their price target on shares of Brixmor Property Group from $34.00 to $37.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Brixmor Property Group in a report on Monday, May 4th. Truist Financial boosted their price objective on Brixmor Property Group from $32.00 to $33.00 and gave the stock a "buy" rating in a research note on Wednesday, May 27th. Evercore raised Brixmor Property Group to a "strong-buy" rating in a report on Wednesday, April 29th. Finally, Jefferies Financial Group upgraded Brixmor Property Group to a "strong-buy" rating in a research report on Friday, June 26th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Brixmor Property Group currently has a consensus rating of "Buy" and a consensus price target of $33.75.

Brixmor Property Group Company Profile

Brixmor Property Group is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of open-air shopping centers across the United States. The company acquires and leases retail properties that feature everyday, necessity-based tenants such as grocery stores, discount retailers, and service providers. Brixmor's core strategy centers on generating stable, long-term income streams through tenant relationships and targeted property enhancements.

The company's main business activities include proactive leasing, property upkeep and capital improvement projects designed to maximize occupancy and tenant satisfaction.

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