Brixmor Property Group Inc (NYSE:BRX) – KeyCorp raised their FY2019 EPS estimates for Brixmor Property Group in a report issued on Thursday. KeyCorp analyst T. Thomas now expects that the real estate investment trust will post earnings per share of $2.06 for the year, up from their prior estimate of $2.03.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.27). The firm had revenue of $320.06 million for the quarter, compared to analysts’ expectations of $312.97 million. Brixmor Property Group had a net margin of 23.40% and a return on equity of 10.30%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS.
Shares of Brixmor Property Group (BRX) traded down $0.27 during trading on Monday, reaching $15.27. The company’s stock had a trading volume of 2,520,318 shares, compared to its average volume of 4,030,996. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $4,783.85, a price-to-earnings ratio of 15.65, a P/E/G ratio of 1.95 and a beta of 0.38. Brixmor Property Group has a fifty-two week low of $13.74 and a fifty-two week high of $22.19.
Hedge funds have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Brixmor Property Group during the 3rd quarter valued at about $100,000. CIBC Asset Management Inc purchased a new position in Brixmor Property Group in the 3rd quarter worth approximately $191,000. IFM Investors Pty Ltd purchased a new position in Brixmor Property Group in the 3rd quarter worth approximately $197,000. Meeder Asset Management Inc. lifted its holdings in Brixmor Property Group by 53.2% in the 4th quarter. Meeder Asset Management Inc. now owns 12,172 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 4,225 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in Brixmor Property Group by 244.2% in the 3rd quarter. Toronto Dominion Bank now owns 12,877 shares of the real estate investment trust’s stock worth $242,000 after purchasing an additional 9,136 shares in the last quarter. 99.72% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Mark Horgan bought 4,500 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were acquired at an average cost of $14.94 per share, with a total value of $67,230.00. Following the completion of the transaction, the executive vice president now owns 62,769 shares of the company’s stock, valued at approximately $937,768.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO James M. Taylor, Jr. bought 7,500 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was purchased at an average cost of $15.55 per share, for a total transaction of $116,625.00. Following the completion of the transaction, the chief executive officer now directly owns 216,884 shares of the company’s stock, valued at approximately $3,372,546.20. The disclosure for this purchase can be found here. Insiders acquired 12,750 shares of company stock worth $195,495 over the last three months. Insiders own 0.27% of the company’s stock.
Brixmor Property Group declared that its board has approved a share buyback program 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. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, April 5th will be given a $0.275 dividend. The ex-dividend date is Wednesday, April 4th. This represents a $1.10 annualized dividend and a yield of 7.20%. Brixmor Property Group’s payout ratio is 112.24%.
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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.
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