Brokerages expect Brixmor Property Group Inc (NYSE:BRX) to post $0.51 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Brixmor Property Group’s earnings, with the lowest EPS estimate coming in at $0.50 and the highest estimate coming in at $0.51. Brixmor Property Group reported earnings per share of $0.53 in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.8%. The firm is scheduled to announce its next quarterly earnings results on Monday, May 7th.
According to Zacks, analysts expect that Brixmor Property Group will report full year earnings of $2.01 per share for the current year, with EPS estimates ranging from $1.98 to $2.02. For the next year, analysts anticipate that the business will post earnings of $2.05 per share, with EPS estimates ranging from $1.97 to $2.13. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Brixmor Property Group.
Brixmor Property Group (NYSE:BRX) last released its earnings results on Monday, February 12th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.27). Brixmor Property Group had a return on equity of 10.30% and a net margin of 23.40%. The firm had revenue of $320.06 million for the quarter, compared to the consensus estimate of $312.97 million. During the same period in the prior year, the business earned $0.53 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis.
A number of analysts have recently weighed in on BRX shares. BMO Capital Markets set a $19.00 price target on Brixmor Property Group and gave the stock a “hold” rating in a research report on Tuesday, December 5th. Boenning Scattergood reiterated a “buy” rating and set a $22.00 price target on shares of Brixmor Property Group in a research report on Thursday, December 7th. Mizuho cut Brixmor Property Group from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research report on Monday, December 11th. ValuEngine cut Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, Citigroup upgraded Brixmor Property Group to an “overweight” rating and increased their price target for the stock from $19.00 to $21.00 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $18.40.
In other Brixmor Property Group news, CEO James M. Taylor, Jr. bought 7,500 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were purchased at an average cost of $15.55 per share, for a total transaction of $116,625.00. Following the transaction, the chief executive officer now directly owns 216,884 shares in the company, valued at $3,372,546.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Horgan bought 4,500 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was acquired at an average price of $14.94 per share, for a total transaction of $67,230.00. Following the completion of the transaction, the executive vice president now owns 62,769 shares in the company, valued at $937,768.86. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 12,750 shares of company stock worth $195,495. 0.33% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of BRX. IFM Investors Pty Ltd acquired a new position in shares of Brixmor Property Group during the 3rd quarter valued at $197,000. Meeder Asset Management Inc. increased its position in shares of Brixmor Property Group by 53.2% during the 4th quarter. Meeder Asset Management Inc. now owns 12,172 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 4,225 shares during the period. Vident Investment Advisory LLC acquired a new position in shares of Brixmor Property Group during the 3rd quarter valued at $270,000. Itau Unibanco Holding S.A. increased its position in shares of Brixmor Property Group by 126.3% during the 4th quarter. Itau Unibanco Holding S.A. now owns 14,833 shares of the real estate investment trust’s stock valued at $277,000 after purchasing an additional 8,278 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its position in shares of Brixmor Property Group by 65.6% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 15,400 shares of the real estate investment trust’s stock valued at $287,000 after purchasing an additional 6,100 shares during the period. Hedge funds and other institutional investors own 99.72% of the company’s stock.
NYSE:BRX traded down $0.24 during trading hours on Monday, reaching $15.01. 2,862,210 shares of the stock were exchanged, compared to its average volume of 3,854,605. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.95. The company has a market cap of $4,646.74, a PE ratio of 7.18, a P/E/G ratio of 1.89 and a beta of 0.39. Brixmor Property Group has a 52 week low of $13.74 and a 52 week high of $22.02.
Brixmor Property Group announced that its board has approved a stock repurchase plan on Tuesday, December 5th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, April 5th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date is Wednesday, April 4th. Brixmor Property Group’s payout ratio is 52.63%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Brixmor Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brixmor Property Group and related companies with MarketBeat.com's FREE daily email newsletter.