and and any 17 r f ff // J. Michael Jones Shares of Brixmor Property Group (NYSE:BRX) have been a modest performer over the past year, rising about 8%. Elevated interest rates have weighed on real estate valuations, though shares have seen some momentum recently as expectations around Federal Reserve rat cuts have risen. I last covered BRX in November, rating shares a buy, and since then, they have performed in line with the market, gaining 19%. With BRX just reporting Q2 results and rate cut hopes rising, ...

Core Insights - Investors are focusing on revenue and earnings changes year-over-year, alongside Wall Street expectations, to gauge financial health and stock performance [1] Financial Performance - Brixmor Property (BRX) reported revenue of $315.69 million for the quarter ended June 2024, reflecting a year-over-year increase of 1.9% [3] - The reported revenue was slightly below the Zacks Consensus Estimate of $320.03 million, resulting in a surprise of -1.36% [2] - Earnings per share (EPS) for the quarter was $0.54, compared to $0.19 a year ago, indicating significant growth [3] - Rental income was reported at $315.59 million, which is a 2.1% increase from the previous year but below the average estimate of $318.74 million [4] - Other revenues were reported at $0.10 million, significantly lower than the estimated $0.43 million, marking an 83% year-over-year decline [4] - Income attributable to common stockholders was $0.23, slightly above the estimated $0.22 [4] Market Performance - Brixmor's shares have returned +6.4% over the past month, outperforming the Zacks S&P 500 composite, which saw a -0.2% change [5] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [5]

Core Viewpoint - Brixmor Property (BRX) reported quarterly funds from operations (FFO) of $0.54 per share, exceeding the Zacks Consensus Estimate of $0.52 per share, and showing an increase from $0.52 per share a year ago [1][10]. Financial Performance - The company posted revenues of $315.69 million for the quarter ended June 2024, which was below the Zacks Consensus Estimate by 1.36%, compared to $309.79 million in the same quarter last year [14]. - Over the last four quarters, Brixmor has surpassed consensus FFO estimates two times [5]. - The current consensus FFO estimate for the upcoming quarter is $0.52 on revenues of $320.24 million, and for the current fiscal year, it is $2.11 on revenues of $1.29 billion [7]. Market Position and Outlook - Brixmor shares have increased approximately 5.5% since the beginning of the year, while the S&P 500 has gained 14.5% [11]. - The Zacks Industry Rank for REIT and Equity Trust - Retail is currently in the top 18% of over 250 Zacks industries, indicating a favorable outlook for the industry [15]. - The estimate revisions trend for Brixmor is favorable, leading to a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [12].

Three Months Ended June 30, 2024 Note: Financial and operational information is unaudited. For additional information, please visit https://www.brixmor.com; follow Brixmor on LinkedIn at https://www.linkedin.com/company/brixmor, Facebook at https://www.facebook.com/Brixmor, Instagram at https://www.instagram.com/brixmorpropertygroup, and Youtube at https://www.youtube.com/user/Brixmor. This Supplemental Disclosure may contain forward-looking statements within the meaning of Section 27A of the Securities Act ...

Pursuant to the terms of the Company's unsecured debt agreements, the Company, among other things, is subject to the maintenance of various financial covenants. The Company was in compliance with these covenants as of June 30, 2024. As of June 30, 2024 and December 31, 2023, the Company had accrued interest of $58.2 million and $47.1 million outstanding, respectively. As of June 30, 2024, scheduled maturities of the Company's outstanding debt obligations were as follows: | --- | --- | --- | |--------------- ...

- Continued to Deliver Record Operating Metrics - - Announced Executive Promotions - Announced the following executive promotions, effective as of July 24, 2024: Brian T. Finnegan, the Company's Senior Executive Vice President, Chief Operating Officer has been promoted to President, Chief Operating Officer Steven T. Gallagher, the Company's Senior Vice President, Chief Accounting Officer and Interim Chief Financial Officer and Treasurer has been promoted to Executive Vice President, Chief Financial Officer ...

Core Viewpoint - Brixmor Property (BRX) has received an upgrade to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is expected to influence stock prices favorably [1][10]. Earnings Estimate Revisions - Analysts have been consistently raising their earnings estimates for Brixmor, with the Zacks Consensus Estimate increasing by 1% over the past three months [6]. - For the fiscal year ending December 2024, Brixmor is projected to earn $2.11 per share, reflecting a 3.4% increase from the previous year's reported figure [13]. Zacks Rating System - The Zacks rating system maintains a balanced approach, with an equal proportion of 'buy' and 'sell' ratings across over 4000 stocks, ensuring that only the top 20% of stocks receive favorable ratings based on earnings estimate revisions [7][8]. - The Zacks Rank stock-rating system has a strong historical performance, with Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [12]. Market Implications - The upgrade to Zacks Rank 2 positions Brixmor among the top 20% of stocks in terms of earnings estimate revisions, suggesting potential for stock price appreciation in the near term [8][10]. - The correlation between changes in earnings estimates and stock price movements is significant, particularly due to the actions of institutional investors who adjust their valuations based on these estimates [11].

Brixmor Property in Focus Looking at this fiscal year, BRX expects solid earnings growth. The Zacks Consensus Estimate for 2024 is $2.11 per share, which represents a year-over-year growth rate of 3.43%. High-growth firms or tech start-ups, for example, rarely provide their shareholders a dividend, while larger, more established companies that have more secure profits are often seen as the best dividend options. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during ...

Continued progress in support of Diversity and Inclusion initiatives, with an emphasis on inclusive recruitment and early career development; employee engagement, mentorship, and education; and enhanced transparency and accountability An average gender pay gap of zero for the fourth consecutive year Executive bonuses linked directly to the achievement of individual ESG goals Maintaining the highest score of "1" from ISS's Governance QualityScore, which reviews corporate governance quality and risk across fo ...

Brixmor Property (BRX) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. Since a changing earnings picture is a powerful factor influencing near-term stock price movements, the Zacks rating system is very useful for individual investors. They may find it difficult to make decisions based on rating upgrades by Wall Street analysts, as thes ...