Wall Street analysts predict that Brixmor Property Group Inc. (NYSE:BRX) will post sales of $272.88 million for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Brixmor Property Group's earnings. The highest sales estimate is $283.70 million and the lowest is $258.54 million. Brixmor Property Group posted sales of $247.62 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.2%. The business is scheduled to report its next quarterly earnings results after the market closes on Monday, August 2nd.
According to Zacks, analysts expect that Brixmor Property Group will report full year sales of $1.11 billion for the current financial year, with estimates ranging from $1.07 billion to $1.14 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.14 billion, with estimates ranging from $1.10 billion to $1.19 billion. Zacks' sales averages are an average based on a survey of sell-side analysts that that provide coverage for Brixmor Property Group.
Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings data on Sunday, May 2nd. The real estate investment trust reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.40 by ($0.22). The firm had revenue of $279.75 million during the quarter, compared to analyst estimates of $265.51 million. Brixmor Property Group had a net margin of 10.83% and a return on equity of 4.42%. The business's quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 EPS.
BRX has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Brixmor Property Group from a "hold" rating to a "sell" rating in a research report on Wednesday, April 14th. Truist upped their price target on shares of Brixmor Property Group from $17.00 to $20.00 in a research report on Friday, March 5th. Mizuho upped their price target on shares of Brixmor Property Group from $16.00 to $20.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 23rd. KeyCorp upped their price target on shares of Brixmor Property Group from $22.00 to $24.00 and gave the stock an "overweight" rating in a research report on Thursday, May 27th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $22.00 price target (up previously from $20.00) on shares of Brixmor Property Group in a research report on Monday, March 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company's stock. The company has an average rating of "Hold" and a consensus target price of $17.42.
In other news, insider Carolyn Carter Singh sold 10,000 shares of the company's stock in a transaction on Friday, April 9th. The shares were sold at an average price of $20.64, for a total value of $206,400.00. Also, CFO Angela M. Aman sold 7,500 shares of the company's stock in a transaction on Monday, April 26th. The shares were sold at an average price of $22.00, for a total transaction of $165,000.00. Following the completion of the transaction, the chief financial officer now owns 102,469 shares of the company's stock, valued at $2,254,318. The disclosure for this sale can be found here. Insiders sold 45,000 shares of company stock valued at $996,800 in the last three months. Company insiders own 0.57% of the company's stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of BRX. First Trust Advisors LP boosted its stake in Brixmor Property Group by 8.8% during the 4th quarter. First Trust Advisors LP now owns 202,840 shares of the real estate investment trust's stock valued at $3,357,000 after acquiring an additional 16,483 shares during the last quarter. California Public Employees Retirement System boosted its stake in Brixmor Property Group by 4.0% during the 4th quarter. California Public Employees Retirement System now owns 743,104 shares of the real estate investment trust's stock valued at $12,298,000 after acquiring an additional 28,314 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Brixmor Property Group by 1.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 191,302 shares of the real estate investment trust's stock valued at $3,166,000 after acquiring an additional 3,387 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Brixmor Property Group by 5.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 70,063 shares of the real estate investment trust's stock valued at $1,160,000 after acquiring an additional 3,600 shares during the last quarter. Finally, Boston Partners boosted its stake in Brixmor Property Group by 62.0% during the 4th quarter. Boston Partners now owns 212,403 shares of the real estate investment trust's stock valued at $3,515,000 after acquiring an additional 81,268 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.
NYSE:BRX opened at $24.11 on Friday. The firm has a 50 day moving average price of $22.01. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.93. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 63.45, a PEG ratio of 1.64 and a beta of 1.71. Brixmor Property Group has a 1-year low of $10.58 and a 1-year high of $24.42.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Tuesday, July 6th will be given a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Friday, July 2nd. Brixmor Property Group's payout ratio is currently 58.50%.
Brixmor Property Group Company Profile
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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