Brixmor Property Group (NYSE:BRX) Price Target Raised to $28.00

Brixmor Property Group (NYSE:BRX) had its price target increased by Compass Point from $26.00 to $28.00 in a research report report published on Wednesday, Benzinga reports. Compass Point currently has a buy rating on the real estate investment trust’s stock.

A number of other brokerages have also recently issued reports on BRX. StockNews.com cut shares of Brixmor Property Group from a buy rating to a hold rating in a report on Monday, July 29th. Stifel Nicolaus lifted their price target on Brixmor Property Group from $24.00 to $25.50 and gave the company a hold rating in a research note on Tuesday, July 30th. Mizuho lowered their price objective on Brixmor Property Group from $24.00 to $23.00 and set a neutral rating for the company in a research note on Thursday, May 23rd. Piper Sandler reaffirmed an overweight rating and set a $33.00 target price (up previously from $30.00) on shares of Brixmor Property Group in a research report on Wednesday. Finally, Wells Fargo & Company decreased their price target on Brixmor Property Group from $25.00 to $24.00 and set an equal weight rating for the company in a report on Tuesday, May 28th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Brixmor Property Group has an average rating of Moderate Buy and a consensus price target of $26.75.

Brixmor Property Group Stock Down 0.7 %

BRX stock opened at $25.37 on Wednesday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.45 and a current ratio of 1.50. Brixmor Property Group has a fifty-two week low of $19.46 and a fifty-two week high of $26.41. The stock’s 50 day simple moving average is $23.17 and its 200 day simple moving average is $22.66. The company has a market cap of $7.65 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 4.43 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The firm had revenue of $315.69 million during the quarter, compared to the consensus estimate of $317.75 million. During the same quarter in the prior year, the business earned $0.52 earnings per share. Brixmor Property Group’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, research analysts expect that Brixmor Property Group will post 2.12 earnings per share for the current fiscal year.

Brixmor Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Wednesday, October 2nd. Brixmor Property Group’s payout ratio is 117.21%.

Insider Buying and Selling

In related news, insider Steven F. Siegel sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the sale, the insider now owns 360,004 shares in the company, valued at $8,640,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Brixmor Property Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in shares of Brixmor Property Group in the first quarter valued at $124,978,000. Norges Bank purchased a new stake in Brixmor Property Group in the 4th quarter worth about $73,143,000. PGGM Investments raised its stake in Brixmor Property Group by 167.2% in the 2nd quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock valued at $86,847,000 after acquiring an additional 2,353,582 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Brixmor Property Group by 16.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 14,985,745 shares of the real estate investment trust’s stock valued at $348,718,000 after purchasing an additional 2,067,135 shares during the last quarter. Finally, Centersquare Investment Management LLC boosted its position in Brixmor Property Group by 13.6% during the fourth quarter. Centersquare Investment Management LLC now owns 8,467,936 shares of the real estate investment trust’s stock worth $197,049,000 after purchasing an additional 1,016,209 shares during the period. 98.43% of the stock is owned by 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 362 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.