Brixmor Property Group Inc. (BRX) Expected to Post Quarterly Sales of $321.20 Million

Wall Street analysts expect Brixmor Property Group Inc. (NYSE:BRX) to report sales of $321.20 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Brixmor Property Group’s earnings, with estimates ranging from $315.80 million to $327.47 million. Brixmor Property Group posted sales of $318.58 million during the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The company is scheduled to announce its next quarterly earnings report after the market closes on Monday, October 30th.

According to Zacks, analysts expect that Brixmor Property Group will report full-year sales of $321.20 million for the current year, with estimates ranging from $1.28 billion to $1.31 billion. For the next year, analysts forecast that the firm will report sales of $1.32 billion per share, with estimates ranging from $1.27 billion to $1.38 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms 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 Thomson Reuters’ 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 firm had revenue of $322.80 million during the quarter, compared to the consensus estimate of $315.69 million. During the same period in the previous year, the firm posted $0.50 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year.

BRX has been the subject of a number of research reports. Barclays PLC reduced their target price on shares of Brixmor Property Group from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Friday, June 16th. Royal Bank Of Canada restated a “hold” rating and issued a $23.00 price target on shares of Brixmor Property Group in a research report on Monday, June 19th. Zacks Investment Research upgraded shares of Brixmor Property Group from a “sell” rating to a “hold” rating in a research report on Friday, May 19th. Citigroup Inc. reduced their price target on shares of Brixmor Property Group from $26.00 to $20.50 and set a “neutral” rating for the company in a research report on Tuesday, May 9th. Finally, BidaskClub upgraded shares of Brixmor Property Group from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $25.06.

Brixmor Property Group (BRX) opened at 18.95 on Friday. The firm has a 50-day moving average price of $19.19 and a 200 day moving average price of $19.92. Brixmor Property Group has a one year low of $17.35 and a one year high of $29.14. The firm has a market capitalization of $5.78 billion, a P/E ratio of 19.42 and a beta of 0.54.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Thursday, October 5th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.04 dividend on an annualized basis and a yield of 5.49%. Brixmor Property Group’s payout ratio is 106.12%.

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In other Brixmor Property Group news, insider James M. Taylor, Jr. purchased 15,600 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were bought at an average price of $19.24 per share, for a total transaction of $300,144.00. Following the purchase, the insider now directly owns 224,793 shares in the company, valued at approximately $4,325,017.32. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Schreiber purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were acquired at an average price of $18.72 per share, for a total transaction of $187,200.00. Following the purchase, the director now 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 owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in shares of Brixmor Property Group by 3.3% in the first quarter. Pacer Advisors Inc. now owns 6,575 shares of the real estate investment trust’s stock valued at $141,000 after buying an additional 209 shares during the period. World Asset Management Inc raised its position in shares of Brixmor Property Group by 2.0% in the first quarter. World Asset Management Inc now owns 12,995 shares of the real estate investment trust’s stock valued at $279,000 after buying an additional 256 shares during the period. Fifth Third Bancorp raised its position in shares of Brixmor Property Group by 0.3% in the first quarter. Fifth Third Bancorp now owns 92,123 shares of the real estate investment trust’s stock valued at $1,977,000 after buying an additional 301 shares during the period. M&T Bank Corp raised its position in shares of Brixmor Property Group by 1.8% in the second 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. Finally, Mn Services Vermogensbeheer B.V. raised its position in shares of Brixmor Property Group by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,116 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 341 shares during the period.

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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Earnings History and Estimates for Brixmor Property Group (NYSE:BRX)

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