Brixmor Property Group (NYSE:BRX) Releases FY24 Earnings Guidance

Brixmor Property Group (NYSE:BRXGet Free Report) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $2.06-2.10 for the period, compared to the consensus estimate of $2.08.

Brixmor Property Group Trading Down 0.9 %

NYSE:BRX opened at $22.55 on Tuesday. The company has a 50-day moving average price of $22.88 and a 200-day moving average price of $21.95. Brixmor Property Group has a 12 month low of $19.40 and a 12 month high of $24.47. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.71. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 1.83 and a beta of 1.55.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of Brixmor Property Group from $24.50 to $22.75 and set a hold rating for the company in a research note on Tuesday, October 31st. Mizuho raised their price objective on shares of Brixmor Property Group from $22.00 to $23.00 and gave the company a buy rating in a research note on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Brixmor Property Group in a research note on Tuesday, January 30th. They set a buy rating and a $27.00 price objective for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Brixmor Property Group from $24.00 to $23.00 and set an equal weight rating for the company in a research note on Monday, November 13th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $25.09.

Read Our Latest Analysis on Brixmor Property Group

Insider Activity at Brixmor Property Group

In other Brixmor Property Group news, insider Brian T. Finnegan sold 7,500 shares of Brixmor Property Group stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $23.00, for a total transaction of $172,500.00. Following the transaction, the insider now owns 186,873 shares of the company’s stock, valued at $4,298,079. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Brixmor Property Group news, insider Brian T. Finnegan sold 7,500 shares of Brixmor Property Group stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $23.00, for a total transaction of $172,500.00. Following the transaction, the insider now owns 186,873 shares of the company’s stock, valued at $4,298,079. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Angela M. Aman sold 10,000 shares of Brixmor Property Group stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the transaction, the chief financial officer now directly owns 152,054 shares in the company, valued at approximately $3,649,296. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,000 shares of company stock worth $586,950. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brixmor Property Group

Several hedge funds have recently modified their holdings of the stock. State of Wyoming increased its position in Brixmor Property Group by 6.8% in the fourth quarter. State of Wyoming now owns 7,469 shares of the real estate investment trust’s stock worth $169,000 after purchasing an additional 478 shares during the last quarter. Belpointe Asset Management LLC increased its position in Brixmor Property Group by 42.9% in the first quarter. Belpointe Asset Management LLC now owns 1,931 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 580 shares during the last quarter. Beacon Pointe Advisors LLC increased its position in Brixmor Property Group by 5.3% in the first quarter. Beacon Pointe Advisors LLC now owns 12,535 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 631 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Brixmor Property Group by 1.1% in the first quarter. Ameritas Investment Partners Inc. now owns 79,564 shares of the real estate investment trust’s stock worth $2,054,000 after purchasing an additional 897 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Brixmor Property Group by 0.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 191,444 shares of the real estate investment trust’s stock worth $4,340,000 after purchasing an additional 1,140 shares during the last quarter. Hedge funds and other institutional investors own 94.98% of the company’s stock.

Brixmor Property Group Company Profile

(Get Free Report)

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 364 retail centers comprise approximately 65 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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Earnings History and Estimates for Brixmor Property Group (NYSE:BRX)

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