Brokerages expect Brixmor Property Group Inc. (NYSE:BRX) to post $314.56 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Brixmor Property Group’s earnings, with estimates ranging from $303.61 million to $324.78 million. Brixmor Property Group posted sales of $310.06 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.5%. The firm is expected to announce its next quarterly earnings results after the market closes on Monday, July 31st.
On average, analysts expect that Brixmor Property Group will report full-year sales of $314.56 million for the current year, with estimates ranging from $1.25 billion to $1.31 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.31 billion per share, with estimates ranging from $1.27 billion to $1.35 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Brixmor Property Group.
Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, May 1st. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Brixmor Property Group had a return on equity of 9.85% and a net margin of 22.43%. The company had revenue of $325.80 million for the quarter, compared to the consensus estimate of $317.02 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. Brixmor Property Group’s revenue was up .8% on a year-over-year basis.
Several analysts have weighed in on BRX shares. Zacks Investment Research upgraded Brixmor Property Group from a “sell” rating to a “hold” rating in a research note on Friday, May 19th. BidaskClub upgraded Brixmor Property Group from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 27th. Royal Bank Of Canada reiterated a “hold” rating and set a $23.00 price target on shares of Brixmor Property Group in a research note on Monday, June 19th. ValuEngine downgraded Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Citigroup Inc. dropped their price target on Brixmor Property Group from $26.00 to $20.50 and set a “neutral” rating on the stock in a research note on Tuesday, May 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $26.30.
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In related news, Director John Schreiber acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was acquired at an average price of $18.85 per share, with a total value of $188,500.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $188,500. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James M. Taylor, Jr. acquired 14,000 shares of the firm’s stock in a transaction dated Thursday, May 4th. The stock was bought at an average cost of $18.60 per share, with a total value of $260,400.00. Following the acquisition, the insider now owns 203,893 shares in the company, valued at $3,792,409.80. The disclosure for this purchase can be found here. In the last three months, insiders bought 33,000 shares of company stock valued at $616,856. Insiders own 0.27% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Brixmor Property Group by 2,015.3% in the first quarter. BlackRock Inc. now owns 21,523,219 shares of the real estate investment trust’s stock valued at $461,888,000 after buying an additional 20,505,706 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Brixmor Property Group by 122.5% in the first quarter. Bank of New York Mellon Corp now owns 3,533,889 shares of the real estate investment trust’s stock valued at $75,840,000 after buying an additional 1,945,697 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Brixmor Property Group by 50.6% in the first quarter. Nuveen Asset Management LLC now owns 4,610,796 shares of the real estate investment trust’s stock valued at $98,948,000 after buying an additional 1,549,548 shares during the period. First Manhattan Co. boosted its position in shares of Brixmor Property Group by 399.3% in the second quarter. First Manhattan Co. now owns 1,537,970 shares of the real estate investment trust’s stock valued at $27,498,000 after buying an additional 1,229,970 shares during the period. Finally, Morgan Stanley boosted its position in shares of Brixmor Property Group by 42.9% in the first quarter. Morgan Stanley now owns 3,625,868 shares of the real estate investment trust’s stock valued at $77,811,000 after buying an additional 1,089,278 shares during the period.
Brixmor Property Group (NYSE:BRX) traded down 2.50% on Thursday, reaching $19.50. The company’s stock had a trading volume of 2,574,682 shares. Brixmor Property Group has a 1-year low of $17.35 and a 1-year high of $29.14. The firm’s 50 day moving average price is $18.55 and its 200-day moving average price is $20.80. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 20.74 and a beta of 0.50.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Thursday, July 6th were issued a $0.26 dividend. The ex-dividend date was Monday, July 3rd. This represents a $1.04 annualized dividend and a dividend yield of 5.33%. Brixmor Property Group’s dividend payout ratio (DPR) is presently 110.64%.
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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