$292.33 Million in Sales Expected for Brixmor Property Group Inc. (NYSE:BRX) This Quarter

Equities analysts expect Brixmor Property Group Inc. (NYSE:BRXGet Rating) to post $292.33 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for Brixmor Property Group’s earnings, with the highest sales estimate coming in at $295.11 million and the lowest estimate coming in at $288.37 million. Brixmor Property Group posted sales of $279.75 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.5%. The business is expected to report its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Brixmor Property Group will report full-year sales of $1.19 billion for the current year, with estimates ranging from $1.17 billion to $1.20 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.24 billion, with estimates ranging from $1.22 billion to $1.28 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Brixmor Property Group.

Brixmor Property Group (NYSE:BRXGet Rating) last released its earnings results on Monday, February 7th. The real estate investment trust reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.09. Brixmor Property Group had a return on equity of 10.02% and a net margin of 23.45%. The business had revenue of $295.32 million for the quarter, compared to the consensus estimate of $285.40 million. During the same period in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year.

BRX has been the topic of several analyst reports. Truist Financial raised Brixmor Property Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $26.00 to $29.00 in a report on Tuesday, January 18th. Mizuho lowered their price target on Brixmor Property Group from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, February 15th. Jefferies Financial Group raised Brixmor Property Group from a “hold” rating to a “buy” rating and upped their price target for the company from $25.00 to $29.00 in a report on Monday, January 10th. KeyCorp upped their price target on Brixmor Property Group from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Thursday, January 13th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Brixmor Property Group from $27.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, March 31st. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $27.46.

Brixmor Property Group stock opened at $26.15 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.90. The business’s fifty day simple moving average is $25.41 and its two-hundred day simple moving average is $24.85. Brixmor Property Group has a 12 month low of $21.01 and a 12 month high of $27.19. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.62.

The business also recently declared a quarterly dividend, which was paid on Monday, April 18th. Shareholders of record on Tuesday, April 5th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Monday, April 4th. Brixmor Property Group’s payout ratio is 106.67%.

In related news, CEO James M. Taylor, Jr. sold 20,000 shares of the stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $26.50, for a total transaction of $530,000.00. Following the completion of the transaction, the chief executive officer now directly owns 506,661 shares of the company’s stock, valued at $13,426,516.50. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian T. Finnegan sold 5,000 shares of the stock in a transaction that occurred on Friday, April 1st. The shares were sold at an average price of $25.84, for a total value of $129,200.00. Following the transaction, the insider now directly owns 150,682 shares of the company’s stock, valued at $3,893,622.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 70,000 shares of company stock valued at $1,815,950. Company insiders own 0.64% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Brixmor Property Group by 6.1% during the fourth quarter. BlackRock Inc. now owns 35,956,258 shares of the real estate investment trust’s stock valued at $913,647,000 after buying an additional 2,078,502 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Brixmor Property Group by 17.5% during the fourth quarter. JPMorgan Chase & Co. now owns 30,237,387 shares of the real estate investment trust’s stock valued at $768,332,000 after buying an additional 4,493,274 shares during the last quarter. State Street Corp boosted its stake in Brixmor Property Group by 6.5% during the fourth quarter. State Street Corp now owns 14,684,959 shares of the real estate investment trust’s stock valued at $373,145,000 after buying an additional 896,908 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Brixmor Property Group by 7.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 10,368,141 shares of the real estate investment trust’s stock valued at $263,454,000 after purchasing an additional 721,846 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Brixmor Property Group by 30.1% in the 3rd quarter. Invesco Ltd. now owns 9,158,057 shares of the real estate investment trust’s stock valued at $202,485,000 after purchasing an additional 2,116,347 shares during the last quarter. 95.21% of the stock is owned by institutional investors.

About Brixmor Property Group (Get Rating)

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 395 retail centers comprise approximately 69 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers.

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