Brixmor Property Group (NYSE:BRX) Announces Quarterly Earnings Results, Misses Expectations By $0.21 EPS

Brixmor Property Group (NYSE:BRX - Get Free Report) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.21), Zacks reports. The business had revenue of $320.68 million for the quarter, compared to analyst estimates of $320.22 million. Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. Brixmor Property Group updated its FY24 guidance to $2.13-$2.15 EPS and its FY 2024 guidance to 2.130-2.150 EPS.

Brixmor Property Group Price Performance

Shares of NYSE:BRX traded down $0.21 during trading on Tuesday, hitting $27.52. 3,652,549 shares of the stock were exchanged, compared to its average volume of 2,287,718. The company has a market cap of $8.29 billion, a PE ratio of 29.59, a P/E/G ratio of 4.43 and a beta of 1.57. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.88. The company has a fifty day moving average price of $27.52 and a two-hundred day moving average price of $24.64. Brixmor Property Group has a 12-month low of $19.88 and a 12-month high of $28.45.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BRX. Evercore ISI boosted their price target on Brixmor Property Group from $27.00 to $28.00 and gave the company an "in-line" rating in a research report on Monday, September 16th. Wells Fargo & Company upped their price target on Brixmor Property Group from $24.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 28th. The Goldman Sachs Group lifted their price objective on shares of Brixmor Property Group from $26.00 to $29.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. StockNews.com downgraded shares of Brixmor Property Group from a "buy" rating to a "hold" rating in a research report on Wednesday, August 7th. Finally, Truist Financial lifted their target price on shares of Brixmor Property Group from $25.00 to $28.00 and gave the company a "buy" rating in a report on Friday, August 16th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $28.54.

Insider Activity at Brixmor Property Group

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the business's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total transaction of $127,250.00. Following the sale, the director now directly owns 46,291 shares in the company, valued at approximately $1,178,105.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is currently owned by company insiders.

About Brixmor Property Group

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 362 retail centers comprise approximately 64 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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