Brixmor Property Group (NYSE:BRX) Price Target Increased to $28.00 by Analysts at Truist Financial

Brixmor Property Group (NYSE:BRX) had its target price boosted by Truist Financial from $25.00 to $28.00 in a research report released on Friday morning, Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

Several other analysts also recently issued reports on BRX. JPMorgan Chase & Co. upped their price objective on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an overweight rating in a report on Wednesday, July 31st. StockNews.com lowered Brixmor Property Group from a buy rating to a hold rating in a research note on Wednesday, August 7th. Evercore ISI upgraded Brixmor Property Group to a hold rating in a research note on Tuesday, July 30th. Mizuho reduced their price objective on Brixmor Property Group from $24.00 to $23.00 and set a neutral rating for the company in a research report on Thursday, May 23rd. Finally, The Goldman Sachs Group boosted their target price on shares of Brixmor Property Group from $26.00 to $29.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $27.50.

Brixmor Property Group Stock Up 0.9 %

BRX opened at $26.16 on Friday. The company has a market capitalization of $7.88 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 4.43 and a beta of 1.57. The business has a 50-day moving average of $23.79 and a 200-day moving average of $22.85. Brixmor Property Group has a fifty-two week low of $19.46 and a fifty-two week high of $26.41. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.50 and a quick ratio of 1.45.

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

Brixmor Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Wednesday, October 2nd. Brixmor Property Group’s dividend payout ratio is 117.20%.

Insider Transactions at Brixmor Property Group

In related news, insider Steven F. Siegel sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the sale, the insider now owns 360,004 shares of the company’s stock, valued at $8,640,096. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Sheryl Maxwell Crosland sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total value of $127,250.00. Following the sale, the director now directly owns 46,291 shares in the company, valued at approximately $1,178,105.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven F. Siegel sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the transaction, the insider now owns 360,004 shares of the company’s stock, valued at approximately $8,640,096. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.

Institutional Trading of Brixmor Property Group

A number of large investors have recently bought and sold shares of the stock. Canada Pension Plan Investment Board acquired a new stake in shares of Brixmor Property Group in the 1st quarter valued at $124,978,000. Norges Bank bought a new position in Brixmor Property Group during the 4th quarter valued at about $73,143,000. PGGM Investments boosted its position in Brixmor Property Group by 167.2% in the second quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock valued at $86,847,000 after buying an additional 2,353,582 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Brixmor Property Group during the second quarter worth about $49,546,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of 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 worth $348,718,000 after buying an additional 2,067,135 shares in the last quarter. 98.43% of the stock is currently 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.