Brixmor Property Group Inc (BRX) Expected to Post Quarterly Sales of $313.23 Million

Equities analysts predict that Brixmor Property Group Inc (NYSE:BRX) will report sales of $313.23 million for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Brixmor Property Group’s earnings. The lowest sales estimate is $303.61 million and the highest is $319.45 million. Brixmor Property Group reported sales of $310.06 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1%. The company is scheduled to report its next earnings report before the market opens on Tuesday, August 1st.

According to Zacks, analysts expect that Brixmor Property Group will report full year sales of $313.23 million for the current fiscal year, with estimates ranging from $1.25 billion to $1.29 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.31 billion per share, with estimates ranging from $1.27 billion to $1.33 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Brixmor Property Group.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, May 1st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. The firm had revenue of $325.80 million during the quarter, compared to the consensus estimate of $317.02 million. Brixmor Property Group had a return on equity of 9.51% and a net margin of 21.60%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 earnings per share.

Several brokerages have recently commented on BRX. ValuEngine lowered Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded Brixmor Property Group from a “sell” rating to a “hold” rating in a research report on Friday, May 19th. Citigroup Inc decreased their target price on Brixmor Property Group from $26.00 to $20.50 and set a “neutral” rating for the company in a research report on Tuesday, May 9th. Boenning Scattergood lowered Brixmor Property Group from an “outperform” rating to a “neutral” rating in a research report on Wednesday, March 22nd. Finally, Stifel Nicolaus decreased their target price on Brixmor Property Group from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, February 14th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $27.00.

Brixmor Property Group (NYSE:BRX) opened at 18.29 on Wednesday. Brixmor Property Group has a one year low of $17.49 and a one year high of $29.14. The firm has a market capitalization of $5.58 billion, a P/E ratio of 19.46 and a beta of 0.54. The company has a 50-day moving average price of $19.29 and a 200-day moving average price of $22.30.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Thursday, July 6th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, July 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 5.69%. Brixmor Property Group’s dividend payout ratio is currently 114.29%.

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In related news, insider James M. Taylor, Jr. acquired 14,000 shares of Brixmor Property Group stock in a transaction that occurred on Thursday, May 4th. The stock was acquired at an average price of $18.60 per share, for a total transaction of $260,400.00. Following the transaction, the insider now directly owns 203,893 shares of the company’s stock, valued at approximately $3,792,409.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John Schreiber acquired 10,000 shares of Brixmor Property Group stock in a transaction that occurred on Thursday, May 11th. The shares were bought at an average price of $18.85 per share, with a total value of $188,500.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $188,500. The disclosure for this purchase can be found here. Insiders have purchased a total of 33,000 shares of company stock valued at $616,856 in the last 90 days. Insiders own 0.22% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Brixmor Property Group by 2,015.3% in the first quarter. BlackRock Inc. now owns 21,523,219 shares of the real estate investment trust’s stock worth $461,888,000 after buying an additional 20,505,706 shares in the last quarter. Brookfield Asset Management Inc. bought a new position in Brixmor Property Group during the third quarter worth about $146,283,000. Norges Bank bought a new position in Brixmor Property Group during the fourth quarter worth about $64,235,000. Bank of New York Mellon Corp raised its position in Brixmor Property Group by 122.5% in the first quarter. Bank of New York Mellon Corp now owns 3,533,889 shares of the real estate investment trust’s stock worth $75,840,000 after buying an additional 1,945,697 shares in the last quarter. Finally, Commonwealth Bank of Australia raised its position in Brixmor Property Group by 56,045.7% in the third quarter. Commonwealth Bank of Australia now owns 1,235,206 shares of the real estate investment trust’s stock worth $34,326,000 after buying an additional 1,233,006 shares in the last quarter.

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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