SunTrust Banks Analysts Raise Earnings Estimates for Brixmor Property Group Inc (NYSE:BRX)
Brixmor Property Group Inc (NYSE:BRX) – Analysts at SunTrust Banks increased their FY2019 earnings per share (EPS) estimates for Brixmor Property Group in a report released on Monday, August 12th. SunTrust Banks analyst K. Kim now forecasts that the real estate investment trust will earn $1.91 per share for the year, up from their prior forecast of $1.89.
Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.24). The company had revenue of $291.00 million during the quarter, compared to the consensus estimate of $286.99 million. Brixmor Property Group had a return on equity of 12.66% and a net margin of 30.07%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.51 earnings per share.
NYSE BRX opened at $18.40 on Wednesday. The company’s 50-day moving average price is $18.35 and its 200-day moving average price is $17.98. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.78. The stock has a market cap of $5.66 billion, a PE ratio of 9.95, a PEG ratio of 2.23 and a beta of 0.74. Brixmor Property Group has a 12 month low of $14.11 and a 12 month high of $19.20.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, October 4th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 6.09%. The ex-dividend date is Thursday, October 3rd. Brixmor Property Group’s payout ratio is currently 60.54%.
Several institutional investors have recently made changes to their positions in BRX. California Public Employees Retirement System grew its stake in Brixmor Property Group by 21.0% in the 2nd quarter. California Public Employees Retirement System now owns 698,068 shares of the real estate investment trust’s stock valued at $12,481,000 after acquiring an additional 120,972 shares during the period. Voloridge Investment Management LLC acquired a new stake in Brixmor Property Group in the 2nd quarter valued at $1,424,000. Nuveen Asset Management LLC grew its stake in Brixmor Property Group by 62.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,700,772 shares of the real estate investment trust’s stock valued at $30,410,000 after acquiring an additional 652,055 shares during the period. Cubist Systematic Strategies LLC grew its stake in Brixmor Property Group by 258.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 38,036 shares of the real estate investment trust’s stock valued at $680,000 after acquiring an additional 27,430 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in Brixmor Property Group in the 2nd quarter valued at $467,000. 98.23% of the stock is owned by hedge funds and other institutional investors.
About Brixmor Property Group
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 425 retail centers comprise approximately 74 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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