Brixmor Property Group (BRX) Issues Quarterly Earnings Results, Misses Expectations By $0.27 EPS

Brixmor Property Group (NYSE:BRX) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.27), Yahoo Finance reports. The business had revenue of $320.06 million for the quarter, compared to analyst estimates of $312.97 million. Brixmor Property Group had a return on equity of 11.08% and a net margin of 25.14%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 EPS.

Brixmor Property Group (BRX) traded up $0.22 on Tuesday, hitting $14.60. The company’s stock had a trading volume of 1,612,207 shares, compared to its average volume of 4,079,632. Brixmor Property Group has a 1 year low of $13.74 and a 1 year high of $24.54. The firm has a market cap of $4,339.26, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.77 and a beta of 0.35. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.70 and a quick ratio of 0.70.

Brixmor Property Group announced that its board has initiated a stock buyback plan on Tuesday, December 5th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Several analysts recently commented on BRX shares. Boenning Scattergood reaffirmed a “buy” rating and set a $22.00 price objective on shares of Brixmor Property Group in a research note on Tuesday, November 21st. Zacks Investment Research downgraded Brixmor Property Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Stifel Nicolaus started coverage on Brixmor Property Group in a research note on Thursday, November 30th. They set a “hold” rating and a $19.00 price objective on the stock. ValuEngine downgraded Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $22.00 price objective on shares of Brixmor Property Group in a research note on Thursday, November 2nd. Two 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 company’s stock. Brixmor Property Group currently has a consensus rating of “Hold” and a consensus price target of $19.38.

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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.

Earnings History for Brixmor Property Group (NYSE:BRX)

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