Zacks: Brokerages Expect Brixmor Property Group Inc. (BRX) Will Announce Quarterly Sales of $318.27 Million
Analysts expect that Brixmor Property Group Inc. (NYSE:BRX) will report $318.27 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Brixmor Property Group’s earnings. The lowest sales estimate is $315.75 million and the highest is $323.23 million. Brixmor Property Group reported sales of $318.58 million in the same quarter last year, which indicates a negative year over year growth rate of 0.1%. The business is scheduled to announce its next earnings results after the market closes on Monday, October 30th.
According to Zacks, analysts expect that Brixmor Property Group will report full-year sales of $318.27 million for the current fiscal year, with estimates ranging from $1.28 billion to $1.29 billion. For the next financial year, analysts forecast that the firm will post sales of $1.31 billion per share, with estimates ranging from $1.27 billion to $1.38 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Brixmor Property Group.
Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02. The company had revenue of $322.80 million during the quarter, compared to analysts’ expectations of $315.69 million. Brixmor Property Group had a net margin of 23.06% and a return on equity of 10.22%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share.
Several equities research analysts have commented on BRX shares. Mizuho upgraded shares of Brixmor Property Group from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Monday, August 14th. Barclays PLC decreased their target price on shares of Brixmor Property Group from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. ValuEngine lowered shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded shares of Brixmor Property Group from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Boenning Scattergood restated a “hold” rating on shares of Brixmor Property Group in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $23.85.
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In other news, insider James M. Taylor, Jr. purchased 15,600 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was acquired at an average price of $19.24 per share, with a total value of $300,144.00. Following the purchase, the insider now directly owns 224,793 shares of the company’s stock, valued at approximately $4,325,017.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Schreiber purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average cost of $18.72 per share, with a total value of $187,200.00. Following the purchase, the director now directly owns 20,000 shares in the company, valued at $374,400. The disclosure for this purchase can be found here. Insiders own 0.27% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware acquired a new position in shares of Brixmor Property Group during the 1st quarter worth $131,000. Pacer Advisors Inc. raised its stake in shares of Brixmor Property Group by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 6,575 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 209 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Brixmor Property Group by 159.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 5,203 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in shares of Brixmor Property Group by 38.8% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 9,300 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 2,600 shares during the last quarter. Finally, Laurion Capital Management LP acquired a new position in shares of Brixmor Property Group during the 1st quarter worth $204,000.
Brixmor Property Group (BRX) traded down 0.05% during trading on Thursday, reaching $18.56. 1,322,096 shares of the company’s stock were exchanged. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 19.02 and a beta of 0.54. Brixmor Property Group has a 52 week low of $17.35 and a 52 week high of $29.14. The stock has a 50-day moving average price of $19.24 and a 200 day moving average price of $19.54.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Thursday, October 5th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 5.60%. The ex-dividend date of this dividend is Wednesday, October 4th. Brixmor Property Group’s dividend payout ratio (DPR) is presently 106.12%.
Brixmor Property Group Company Profile
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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