Brixmor Property Group Inc. (BRX) Issues Earnings Results, Misses Estimates By $0.24 EPS
Brixmor Property Group Inc. (NYSE:BRX) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.24), Yahoo Finance reports. The business had revenue of $314.50 million during the quarter, compared to the consensus estimate of $317.31 million. Brixmor Property Group had a net margin of 23.06% and a return on equity of 10.22%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 EPS. Brixmor Property Group updated its FY17 guidance to $2.05-2.09 EPS.
Shares of Brixmor Property Group (BRX) opened at 18.00 on Tuesday. The company has a 50-day moving average of $18.78 and a 200 day moving average of $18.96. Brixmor Property Group has a 52-week low of $17.32 and a 52-week high of $25.46. The firm has a market cap of $5.49 billion, a P/E ratio of 18.44 and a beta of 0.54.
In other news, insider James M. Taylor, Jr. acquired 15,600 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average price of $19.24 per share, for a total transaction of $300,144.00. Following the completion of the acquisition, the insider now owns 224,793 shares in the company, valued at $4,325,017.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Schreiber acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was purchased at an average price of $18.72 per share, with a total value of $187,200.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $374,400. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by corporate insiders.
BRX has been the subject of a number of research reports. Mizuho upgraded shares of Brixmor Property Group from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Monday, August 14th. ValuEngine upgraded shares of Brixmor Property Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Barclays PLC dropped their price objective on shares of Brixmor Property Group from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Tuesday, July 18th. Zacks Investment Research upgraded shares of Brixmor Property Group from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Brixmor Property Group in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $23.50.
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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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