Equities Analysts Issue Forecasts for Brixmor Property Group Inc.’s Q1 2019 Earnings (BRX)
Brixmor Property Group Inc. (NYSE:BRX) – Equities research analysts at Boenning Scattergood issued their Q1 2019 earnings per share (EPS) estimates for shares of Brixmor Property Group in a report released on Tuesday. Boenning Scattergood analyst F. Van. Dijkum expects that the real estate investment trust will post earnings of $0.52 per share for the quarter. Boenning Scattergood currently has a “Neutral” rating on the stock. Boenning Scattergood also issued estimates for Brixmor Property Group’s Q2 2019 earnings at $0.53 EPS, Q3 2019 earnings at $0.53 EPS, Q4 2019 earnings at $0.54 EPS and FY2019 earnings at $2.12 EPS.
Several other research analysts also recently issued reports on BRX. ValuEngine upgraded Brixmor Property Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded Brixmor Property Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. BMO Capital Markets set a $20.00 price objective on Brixmor Property Group and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Royal Bank of Canada reiterated a “hold” rating and issued a $22.00 price target on shares of Brixmor Property Group in a report on Thursday, November 2nd. Finally, Mizuho reiterated a “buy” rating and issued a $19.50 price target on shares of Brixmor Property Group in a report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Brixmor Property Group currently has an average rating of “Hold” and an average price target of $21.38.
Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.24). Brixmor Property Group had a return on equity of 11.08% and a net margin of 25.14%. The company had revenue of $314.50 million for the quarter, compared to analyst estimates of $317.31 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The company’s revenue for the quarter was down 1.3% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. M&T Bank Corp grew its stake in shares of Brixmor Property Group by 1.8% during the 2nd quarter. M&T Bank Corp now owns 17,587 shares of the real estate investment trust’s stock valued at $314,000 after buying an additional 316 shares during the period. Pacer Advisors Inc. grew its stake in shares of Brixmor Property Group by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 7,129 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 554 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Brixmor Property Group by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,283 shares of the real estate investment trust’s stock valued at $362,000 after buying an additional 712 shares during the period. Federated Investors Inc. PA grew its stake in shares of Brixmor Property Group by 9.1% during the 2nd quarter. Federated Investors Inc. PA now owns 20,021 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 1,670 shares during the period. Finally, Profund Advisors LLC grew its stake in shares of Brixmor Property Group by 26.2% during the 2nd quarter. Profund Advisors LLC now owns 12,966 shares of the real estate investment trust’s stock valued at $232,000 after buying an additional 2,688 shares during the period. 98.30% of the stock is owned by institutional investors.
In other Brixmor Property Group news, EVP Mark Horgan purchased 3,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was bought at an average cost of $17.64 per share, for a total transaction of $52,920.00. Following the acquisition, the executive vice president now owns 56,703 shares of the company’s stock, valued at approximately $1,000,240.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.
Brixmor Property Group announced that its Board of Directors has initiated a stock buyback plan on Tuesday, December 5th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Thursday, January 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, January 3rd. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.26. This represents a $1.10 annualized dividend and a yield of 6.45%. Brixmor Property Group’s payout ratio is 103.77%.
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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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