Brixmor Property Group Inc. (BRX) Expected to Post Earnings of $0.50 Per Share

Analysts expect Brixmor Property Group Inc. (NYSE:BRX) to report $0.50 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Brixmor Property Group’s earnings. The highest EPS estimate is $0.51 and the lowest is $0.50. Brixmor Property Group reported earnings per share of $0.31 in the same quarter last year, which would suggest a positive year-over-year growth rate of 61.3%. The business is scheduled to report its next earnings report on Monday, February 12th.

On average, analysts expect that Brixmor Property Group will report full year earnings of $2.08 per share for the current fiscal year, with EPS estimates ranging from $2.07 to $2.08. For the next fiscal year, analysts expect that the company will report earnings of $2.01 per share, with EPS estimates ranging from $1.98 to $2.09. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Brixmor Property Group.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.24). The business had revenue of $314.50 million during the quarter, compared to analysts’ expectations of $317.31 million. Brixmor Property Group had a return on equity of 11.08% and a net margin of 25.14%. Brixmor Property Group’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 EPS.

BRX has been the topic of several analyst reports. ValuEngine downgraded shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BMO Capital Markets assumed coverage on shares of Brixmor Property Group in a research report on Monday, September 11th. They issued a “market perform” rating and a $20.00 price target on the stock. Boenning Scattergood upgraded shares of Brixmor Property Group from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Tuesday, September 12th. Zacks Investment Research downgraded shares of Brixmor Property Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $22.00 price target on shares of Brixmor Property Group in a research report on Thursday, November 2nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $21.25.

In other news, EVP Mark Horgan acquired 3,000 shares of Brixmor Property Group stock in a transaction dated Friday, November 3rd. The stock was purchased at an average cost of $17.64 per share, with a total value of $52,920.00. Following the completion of the purchase, the executive vice president now directly owns 56,703 shares in the company, valued at approximately $1,000,240.92. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.27% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of BRX. BlackRock Inc. grew its stake in shares of Brixmor Property Group by 35.0% in the 2nd quarter. BlackRock Inc. now owns 29,066,747 shares of the real estate investment trust’s stock worth $519,713,000 after buying an additional 7,543,528 shares in the last quarter. Presima Inc. bought a new stake in Brixmor Property Group during the 3rd quarter valued at about $24,750,000. State Street Corp lifted its holdings in Brixmor Property Group by 12.0% during the 2nd quarter. State Street Corp now owns 10,792,595 shares of the real estate investment trust’s stock valued at $192,965,000 after buying an additional 1,159,181 shares in the last quarter. Brookfield Asset Management Inc. lifted its holdings in Brixmor Property Group by 15.9% during the 2nd quarter. Brookfield Asset Management Inc. now owns 6,618,651 shares of the real estate investment trust’s stock valued at $118,341,000 after buying an additional 908,572 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Brixmor Property Group by 118.5% during the 2nd quarter. Macquarie Group Ltd. now owns 1,630,279 shares of the real estate investment trust’s stock valued at $29,150,000 after buying an additional 884,018 shares in the last quarter. 98.30% of the stock is owned by institutional investors.

Shares of Brixmor Property Group (BRX) traded up $0.19 during midday trading on Friday, hitting $18.16. 1,526,300 shares of the stock traded hands, compared to its average volume of 2,845,511. The company has a market capitalization of $5,540.00, a P/E ratio of 17.13, a PEG ratio of 1.94 and a beta of 0.52. Brixmor Property Group has a 52-week low of $17.23 and a 52-week high of $25.34. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Thursday, January 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, January 3rd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.26. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.06%. Brixmor Property Group’s dividend payout ratio is 98.11%.

Brixmor Property Group announced that its Board of Directors has initiated a share buyback program on Tuesday, December 5th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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

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