Evercore ISI Boosts Brixmor Property Group (NYSE:BRX) Price Target to $28.00

Brixmor Property Group (NYSE:BRX) had its price target hoisted by Evercore ISI from $27.00 to $28.00 in a research report sent to investors on Monday, Benzinga reports. The firm currently has an in-line rating on the real estate investment trust’s stock.

A number of other equities analysts also recently issued reports on BRX. StockNews.com downgraded Brixmor Property Group from a buy rating to a hold rating in a research report on Wednesday, August 7th. Stifel Nicolaus increased 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. JPMorgan Chase & Co. boosted their price target on Brixmor Property Group from $26.00 to $28.00 and gave the stock an overweight rating in a research note on Wednesday, July 31st. Truist Financial increased their price objective on shares of Brixmor Property Group from $25.00 to $28.00 and gave the company a buy rating in a research report on Friday, August 16th. Finally, KeyCorp boosted their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an overweight rating in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $28.38.

Brixmor Property Group Trading Up 0.2 %

Shares of NYSE BRX opened at $28.06 on Monday. Brixmor Property Group has a 1-year low of $19.46 and a 1-year high of $28.45. The business has a fifty day moving average price of $25.98 and a 200 day moving average price of $23.59. The stock has a market capitalization of $8.45 billion, a P/E ratio of 30.17, a price-to-earnings-growth ratio of 4.78 and a beta of 1.57. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.50 and a quick ratio of 1.50.

Brixmor Property Group (NYSE:BRX) last released its quarterly 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). Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The firm had revenue of $315.69 million for the quarter, compared to analysts’ expectations of $317.75 million. During the same period in the previous year, the company posted $0.52 earnings per share. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. Equities research analysts expect that Brixmor Property Group will post 2.13 EPS for the current fiscal year.

Brixmor Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.2725 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.09 annualized dividend and a dividend yield of 3.88%. Brixmor Property Group’s dividend payout ratio (DPR) is presently 117.20%.

Insider Buying and Selling at Brixmor Property Group

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. QRG Capital Management Inc. grew its position in shares of Brixmor Property Group by 10.0% during the 4th quarter. QRG Capital Management Inc. now owns 12,049 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 1,096 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Brixmor Property Group by 0.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 182,527 shares of the real estate investment trust’s stock valued at $4,138,000 after buying an additional 1,613 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Brixmor Property Group by 39.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 30,973 shares of the real estate investment trust’s stock worth $721,000 after buying an additional 8,778 shares during the period. Great Lakes Advisors LLC lifted its position in shares of Brixmor Property Group by 10.3% during the 4th quarter. Great Lakes Advisors LLC now owns 155,630 shares of the real estate investment trust’s stock valued at $3,622,000 after buying an additional 14,481 shares in the last quarter. Finally, ING Groep NV acquired a new stake in Brixmor Property Group in the 4th quarter valued at $4,184,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Company Profile

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.