Zacks: Brokerages Expect Brixmor Property Group Inc. (BRX) to Announce $0.51 EPS
Equities research analysts forecast that Brixmor Property Group Inc. (NYSE:BRX) will announce earnings of $0.51 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Brixmor Property Group’s earnings. The highest EPS estimate is $0.52 and the lowest is $0.50. Brixmor Property Group reported earnings of $0.19 per share during the same quarter last year, which suggests a positive year over year growth rate of 168.4%. The business is scheduled to announce its next quarterly earnings report on Monday, October 23rd.
On average, analysts expect that Brixmor Property Group will report full year earnings of $2.10 per share for the current fiscal year, with EPS estimates ranging from $2.09 to $2.12. For the next financial year, analysts anticipate that the firm will report earnings of $2.15 per share, with EPS estimates ranging from $2.08 to $2.18. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Brixmor Property Group.
Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02. Brixmor Property Group had a return on equity of 10.22% and a net margin of 23.06%. The company had revenue of $322.80 million for the quarter, compared to the consensus estimate of $315.69 million. During the same quarter last year, the business posted $0.50 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year.
Several research analysts have commented on BRX shares. Barclays PLC reissued a “hold” rating and set a $22.00 price objective on shares of Brixmor Property Group in a report on Monday, August 14th. Mizuho raised shares of Brixmor Property Group from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Monday, August 14th. Citigroup Inc. dropped their price objective on shares of Brixmor Property Group from $26.00 to $20.50 and set a “neutral” rating for the company in a report on Tuesday, May 9th. BidaskClub raised shares of Brixmor Property Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $23.00 price objective on shares of Brixmor Property Group in a report on Monday, June 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. Brixmor Property Group currently has an average rating of “Hold” and a consensus price target of $25.06.
In other news, insider James M. Taylor, Jr. acquired 15,600 shares of Brixmor Property Group stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $19.24 per share, with a total value of $300,144.00. Following the transaction, the insider now directly owns 224,793 shares of the company’s stock, valued at approximately $4,325,017.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Schreiber acquired 10,000 shares of Brixmor Property Group stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average cost of $18.72 per share, for a total transaction of $187,200.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $374,400. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in 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 worth $461,888,000 after buying an additional 20,505,706 shares during the period. Bank of New York Mellon Corp raised its stake in 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 worth $75,840,000 after buying an additional 1,945,697 shares during the period. Nuveen Asset Management LLC raised its stake in 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 worth $98,948,000 after buying an additional 1,549,548 shares during the period. First Manhattan Co. raised its stake in 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 worth $27,498,000 after buying an additional 1,229,970 shares during the period. Finally, State Street Corp raised its stake in Brixmor Property Group by 12.0% in the second quarter. State Street Corp now owns 10,792,595 shares of the real estate investment trust’s stock worth $192,965,000 after buying an additional 1,159,181 shares during the period.
Brixmor Property Group (BRX) traded up 0.43% during midday trading on Thursday, reaching $18.72. The company’s stock had a trading volume of 2,795,335 shares. Brixmor Property Group has a one year low of $17.35 and a one year high of $29.14. The firm has a 50 day moving average price of $19.08 and a 200 day moving average price of $20.12. The firm has a market cap of $5.71 billion, a P/E ratio of 19.18 and a beta of 0.53.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Thursday, October 5th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 5.58%. The ex-dividend date is Wednesday, October 4th. Brixmor Property Group’s dividend payout ratio is 106.12%.
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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