Brixmor Property Group (NYSE:BRX) Announces Quarterly Earnings Results, Hits Expectations

Brixmor Property Group (NYSE:BRXGet Free Report) issued its earnings results on Monday. The real estate investment trust reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24, FiscalAI reports. The company had revenue of $354.20 million for the quarter, compared to the consensus estimate of $354.39 million. Brixmor Property Group had a net margin of 31.99% and a return on equity of 14.85%.

Brixmor Property Group Trading Down 0.3%

NYSE BRX traded down $0.10 during trading hours on Monday, reaching $32.34. The company had a trading volume of 2,608,864 shares, compared to its average volume of 2,683,233. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $9.92 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 2.72 and a beta of 0.98. The stock has a 50-day moving average of $31.34 and a 200 day moving average of $29.71. Brixmor Property Group has a 1-year low of $24.66 and a 1-year high of $32.86.

Institutional Investors Weigh In On Brixmor Property Group

A number of institutional investors and hedge funds have recently made changes to their positions in BRX. Compound Planning Inc. boosted its position in shares of Brixmor Property Group by 5.4% during the 4th quarter. Compound Planning Inc. now owns 9,117 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 466 shares during the period. Corient Private Wealth LLC lifted its stake in Brixmor Property Group by 71.2% during the fourth quarter. Corient Private Wealth LLC now owns 21,054 shares of the real estate investment trust’s stock worth $552,000 after purchasing an additional 8,753 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Brixmor Property Group by 6.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 51,020 shares of the real estate investment trust’s stock worth $1,338,000 after buying an additional 2,981 shares during the period. State of Tennessee Department of Treasury boosted its position in shares of Brixmor Property Group by 4.3% during the fourth quarter. State of Tennessee Department of Treasury now owns 505,921 shares of the real estate investment trust’s stock worth $13,554,000 after buying an additional 20,991 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in shares of Brixmor Property Group in the fourth quarter valued at $288,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BRX has been the subject of several analyst reports. Truist Financial increased their price target on shares of Brixmor Property Group from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, May 27th. KeyCorp lifted their price target on shares of Brixmor Property Group from $32.00 to $34.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Jefferies Financial Group upgraded Brixmor Property Group to a “strong-buy” rating in a report on Friday, June 26th. UBS Group increased their price objective on Brixmor Property Group from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Finally, Wells Fargo & Company raised Brixmor Property Group to a “hold” rating in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $33.75.

Get Our Latest Analysis on Brixmor Property Group

Brixmor Property Group Company Profile

(Get Free Report)

Brixmor Property Group is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of open-air shopping centers across the United States. The company acquires and leases retail properties that feature everyday, necessity-based tenants such as grocery stores, discount retailers, and service providers. Brixmor’s core strategy centers on generating stable, long-term income streams through tenant relationships and targeted property enhancements.

The company’s main business activities include proactive leasing, property upkeep and capital improvement projects designed to maximize occupancy and tenant satisfaction.

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Earnings History for Brixmor Property Group (NYSE:BRX)

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