Equities Analysts Issue Forecasts for Brixmor Property Group Inc.’s Q1 2019 Earnings (BRX)
Brixmor Property Group Inc. (NYSE:BRX) – Equities researchers at Boenning Scattergood issued their Q1 2019 earnings estimates for shares of Brixmor Property Group in a research report issued on Tuesday. Boenning Scattergood analyst F. Van. Dijkum expects that the real estate investment trust will earn $0.52 per share for the quarter. Boenning Scattergood has a “Neutral” rating on the stock. Boenning Scattergood also issued estimates for Brixmor Property Group’s Q2 2019 earnings at $0.53 EPS, Q3 2019 earnings at $0.53 EPS, Q4 2019 earnings at $0.54 EPS and FY2019 earnings at $2.12 EPS.
Other analysts also recently issued reports about the company. ValuEngine upgraded Brixmor Property Group from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Mizuho restated a “buy” rating and set a $19.50 price objective on shares of Brixmor Property Group in a report on Friday, November 10th. Royal Bank of Canada restated a “hold” rating and set a $22.00 price objective on shares of Brixmor Property Group in a report on Thursday, November 2nd. BMO Capital Markets set a $20.00 price target on shares of Brixmor Property Group and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Finally, Zacks Investment Research raised shares of Brixmor Property Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Brixmor Property Group has a consensus rating of “Hold” and a consensus target price of $21.38.
Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.24). The firm had revenue of $314.50 million for the quarter, compared to analyst estimates of $317.31 million. Brixmor Property Group had a return on equity of 11.08% and a net margin of 25.14%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.51 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, January 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 6.45%. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, January 3rd. Brixmor Property Group’s dividend payout ratio is 103.77%.
Brixmor Property Group declared that its board has authorized a share repurchase plan 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 purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
In other Brixmor Property Group news, EVP Mark Horgan purchased 3,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 56,703 shares in the company, valued at $1,000,240.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in 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 valued at $519,713,000 after buying an additional 7,543,528 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Brixmor Property Group by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,222,816 shares of the real estate investment trust’s stock valued at $325,682,000 after buying an additional 383,162 shares during the last quarter. State Street Corp boosted its position in Brixmor Property Group by 12.0% in 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 during the last quarter. Brookfield Asset Management Inc. boosted its position in Brixmor Property Group by 15.9% in 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 during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Brixmor Property Group by 5.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,477,991 shares of the real estate investment trust’s stock valued at $84,187,000 after buying an additional 240,874 shares during the last quarter. 98.30% of the stock is owned by institutional investors.
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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