Brixmor Property Group (NYSE:BRX) Updates FY 2024 Earnings Guidance

Brixmor Property Group (NYSE:BRX) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 2.110-2.140 for the period, compared to the consensus estimate of 2.100. The company issued revenue guidance of -. Brixmor Property Group also updated its FY24 guidance to $2.11-2.14 EPS.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Brixmor Property Group from a buy rating to a hold rating in a research report on Monday. Wells Fargo & Company decreased their price objective on shares of Brixmor Property Group from $25.00 to $24.00 and set an equal weight rating for the company in a research report on Tuesday, May 28th. JPMorgan Chase & Co. cut their price target on Brixmor Property Group from $27.00 to $26.00 and set an overweight rating on the stock in a research note on Monday, May 13th. Finally, Mizuho reduced their price target on Brixmor Property Group from $24.00 to $23.00 and set a neutral rating for the company in a report on Thursday, May 23rd. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $25.13.

Brixmor Property Group Stock Performance

BRX traded up $0.71 during trading hours on Tuesday, hitting $25.43. 1,087,426 shares of the stock were exchanged, compared to its average volume of 2,335,030. The stock has a market cap of $7.66 billion, a price-to-earnings ratio of 26.60, a price-to-earnings-growth ratio of 4.29 and a beta of 1.57. The stock has a 50-day simple moving average of $22.87 and a 200-day simple moving average of $22.57. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.45 and a quick ratio of 1.45. Brixmor Property Group has a 12 month low of $19.46 and a 12 month high of $25.50.

Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). Brixmor Property Group had a return on equity of 9.84% and a net margin of 22.47%. The business had revenue of $315.69 million for the quarter, compared to analyst estimates of $317.75 million. During the same period last year, the company posted $0.52 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts anticipate that Brixmor Property Group will post 2.11 earnings per share for the current year.

Insider Buying and Selling at Brixmor Property Group

In other news, insider Steven F. Siegel sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the insider now directly owns 360,004 shares in the company, valued at approximately $8,640,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is currently owned by insiders.

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 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.