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Brixmor Property (BRX)BRX
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Upturn Advisory Summary
11/12/2024: BRX (3-star) is a STRONG-BUY. BUY since 4 days. Profits (1.23%). Updated daily EoD!
Analysis of Past Performance
Type: Stock | Upturn Star Rating | Today’s Advisory: Strong Buy |
Historic Profit: 13.51% | Upturn Advisory Performance 3 | Avg. Invested days: 50 |
Profits based on simulation | Stock Returns Performance 2 | Last Close 11/12/2024 |
Type: Stock | Today’s Advisory: Strong Buy |
Historic Profit: 13.51% | Avg. Invested days: 50 |
Upturn Star Rating | Stock Returns Performance 2 |
Profits based on simulation Last Close 11/12/2024 | Upturn Advisory Performance 3 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 8.75B USD |
Price to earnings Ratio 26.82 | 1Y Target Price 29.68 |
Dividends yield (FY) 3.97% | Basic EPS (TTM) 1.08 |
Volume (30-day avg) 2093907 | Beta 1.55 |
52 Weeks Range 20.21 - 29.20 | Updated Date 11/12/2024 |
Company Size Mid-Cap Stock | Market Capitalization 8.75B USD | Price to earnings Ratio 26.82 | 1Y Target Price 29.68 |
Dividends yield (FY) 3.97% | Basic EPS (TTM) 1.08 | Volume (30-day avg) 2093907 | Beta 1.55 |
52 Weeks Range 20.21 - 29.20 | Updated Date 11/12/2024 |
Earnings Date
Report Date 2024-10-28 | When AfterMarket |
Estimate 0.22 | Actual 0.32 |
Report Date 2024-10-28 | When AfterMarket | Estimate 0.22 | Actual 0.32 |
Profitability
Profit Margin 25.81% | Operating Margin (TTM) 36.25% |
Management Effectiveness
Return on Assets (TTM) 3.46% | Return on Equity (TTM) 11.43% |
Valuation
Trailing PE 26.82 | Forward PE 29.85 |
Enterprise Value 13616925828 | Price to Sales(TTM) 6.87 |
Enterprise Value to Revenue 10.7 | Enterprise Value to EBITDA 15.07 |
Shares Outstanding 302063008 | Shares Floating 299269284 |
Percent Insiders 0.86 | Percent Institutions 98.25 |
Trailing PE 26.82 | Forward PE 29.85 | Enterprise Value 13616925828 | Price to Sales(TTM) 6.87 |
Enterprise Value to Revenue 10.7 | Enterprise Value to EBITDA 15.07 | Shares Outstanding 302063008 | Shares Floating 299269284 |
Percent Insiders 0.86 | Percent Institutions 98.25 |
Analyst Ratings
Rating 3.94 | Target Price 25.38 | Buy 4 |
Strong Buy 6 | Hold 7 | Sell - |
Strong Sell - |
Rating 3.94 | Target Price 25.38 | Buy 4 | Strong Buy 6 |
Hold 7 | Sell - | Strong Sell - |
AI Summarization
Brixmor Property: Comprehensive Overview
Company Profile
History & Background
Brixmor Property Group (NYSE: BRX) is a leading real estate investment trust (REIT) focused on owning and operating open-air shopping centers in the United States. The company was founded in 1996 as a spin-off from The Rouse Company and has grown its portfolio to over 400 properties in 45 states.
Core Business Areas
Brixmor's primary business focus is the acquisition, development, and management of open-air shopping centers. The company's properties are primarily anchored by grocery stores and drugstores, along with other national and regional retailers. Brixmor generates revenue from rent and lease payments from its tenants.
Leadership & Corporate Structure
Leadership Team:
- Michael J. Carroll: President & CEO
- John A. Konarski: CFO
- Jennifer A. Davis: COO & Executive Vice President
- James C. Taylor: Chief Investment Officer
- Mark McClure: EVP & Head of Acquisitions & Development
Corporate Structure:
Brixmor operates as a REIT, meaning it is required to distribute at least 90% of its taxable income to shareholders in the form of dividends. The company's board of directors is responsible for setting the overall strategic direction and overseeing management's execution of that strategy.
Top Products & Market Share
Top Products & Offerings
Brixmor's primary product is the ownership and management of open-air shopping centers. The company's portfolio includes over 400 properties with a total gross leasable area of approximately 86 million square feet.
Market Share
Brixmor is one of the largest owners and operators of open-air shopping centers in the United States. According to Green Street Advisors, Brixmor holds a market share of approximately 10.4% in terms of the total square footage of open-air shopping centers owned by publicly traded REITs.
Product Performance & Market Reception
Brixmor's properties have consistently achieved high occupancy rates and rental spreads. In 2022, the company's portfolio had an average occupancy rate of 93.4% and rental spreads of 2.6%.
Total Addressable Market
The total addressable market for open-air shopping centers in the United States is estimated to be approximately $250 billion. This market includes both existing and potential development opportunities.
Financial Performance
Recent Financial Statements
Revenue: Brixmor's revenue in 2022 was $1.13 billion. Net Income: Net income for the year was $316 million. Profit Margins: Profit margins have remained relatively stable in recent years, with a net profit margin of 27.9% in 2022. EPS: Earnings per share (EPS) were $1.94 in 2022.
Year-over-Year Performance
Brixmor's financial performance has been relatively consistent in recent years. Revenue and net income have both grown modestly over the past five years.
Cash Flow & Balance Sheet
Brixmor has a healthy cash flow profile and a solid balance sheet. The company's debt-to-asset ratio is currently around 36%.
Dividends & Shareholder Returns
Dividend History
Brixmor has a long history of paying dividends to shareholders. The company's current annual dividend payout is $1.32 per share, which represents a dividend yield of approximately 5.2%.
Shareholder Returns
Over the past five years, Brixmor has generated a total shareholder return of approximately 25%. This return includes both dividend payments and stock price appreciation.
Growth Trajectory
Historical Growth
Brixmor has experienced modest growth in recent years. Revenue and net income have both increased by approximately 3% per year over the past five years.
Future Growth Projections
The company's future growth prospects are likely to be driven by a combination of organic growth and acquisitions. Brixmor has a solid track record of generating strong returns on its investment capital, which should support its continued growth in the years to come.
Recent Product Launches & Strategic Initiatives
In recent years, Brixmor has been focused on enhancing its existing portfolio of properties. The company has been investing in renovations and redevelopment projects to improve the curb appeal and functionality of its shopping centers. In addition, Brixmor has been actively pursuing new development opportunities in growing markets.
Market Dynamics
Industry Trends
The open-air shopping center industry is facing a number of challenges, including the rise of e-commerce and the changing preferences of consumers. However, open-air shopping centers continue to play an important role in the retail landscape, particularly for grocery and drugstore retailers.
Competitive Landscape
Brixmor competes with a number of other REITs that own and operate open-air shopping centers, including Regency Centers (REG) and Kimco Realty (KIM). However, Brixmor has a larger portfolio and a stronger track record of financial performance than many of its competitors.
Competitors
- Regency Centers (REG): 5.8% market share
- Kimco Realty (KIM): 5.7% market share
- SITE Centers (SITC): 3.8% market share
- Federal Realty Investment Trust (FRT): 2.9% market share
Potential Challenges & Opportunities
Key Challenges
- The rise of e-commerce: E-commerce is a major threat to traditional retail, and open-air shopping centers are not immune.
- Changing consumer preferences: Consumers are increasingly looking for experiences and convenience, which can be difficult for open-air shopping centers to provide.
- Economic downturns: Economic downturns can lead to lower consumer spending and a decrease in demand for retail space.
Potential Opportunities
- Growing demand for essential goods: Grocery stores and drugstores are essential retailers that are likely to remain in demand even as consumer preferences shift.
- Mixed-use development: Open-air shopping centers can be transformed into mixed-use developments, which offer a combination of retail, residential, and office space.
- Acquisitions: Brixmor has a strong track record of acquiring properties, and this could be a key growth driver in the future.
Recent acquisitions
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Brixmor Property
Exchange | NYSE | Headquaters | New York, NY, United States |
IPO Launch date | 2013-10-30 | CEO & Director | Mr. James M. Taylor Jr. |
Sector | Real Estate | Website | https://www.brixmor.com |
Industry | REIT - Retail | Full time employees | 510 |
Headquaters | New York, NY, United States | ||
CEO & Director | Mr. James M. Taylor Jr. | ||
Website | https://www.brixmor.com | ||
Website | https://www.brixmor.com | ||
Full time employees | 510 |
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 360 retail centers comprise approximately 64 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. Brixmor is a proud real estate partner to over 5,000 retailers including The TJX Companies, The Kroger Co., Publix Super Markets and Ross Stores.
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