Brixmor Property Group (NYSE:BRX) Price Target Raised to $32.00

Brixmor Property Group (NYSE:BRX) had its target price raised by Scotiabank from $29.00 to $32.00 in a report released on Monday morning,Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

Several other brokerages also recently commented on BRX. JPMorgan Chase & Co. raised their target price 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. Wells Fargo & Company raised their price objective on shares of Brixmor Property Group from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Truist Financial upped their target price on shares of Brixmor Property Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Evercore ISI lifted their price target on Brixmor Property Group from $27.00 to $28.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Finally, The Goldman Sachs Group upped their price objective on 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.38.

Brixmor Property Group Trading Up 0.3 %

Shares of NYSE BRX opened at $30.37 on Monday. Brixmor Property Group has a twelve month low of $20.80 and a twelve month high of $30.67. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 28.12, a P/E/G ratio of 4.09 and a beta of 1.57. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.85. The company’s fifty day moving average is $28.09 and its 200-day moving average is $25.61.

Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.21). Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. The business had revenue of $320.68 million for the quarter, compared to the consensus estimate of $320.22 million. During the same quarter in the prior year, the firm posted $0.50 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. Equities research analysts predict that Brixmor Property Group will post 2.14 EPS for the current year.

Brixmor Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.287 per share. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 3rd. This represents a $1.15 annualized dividend and a dividend yield of 3.78%. Brixmor Property Group’s payout ratio is 100.93%.

Insider Activity

In related news, insider Steven F. Siegel sold 25,000 shares of Brixmor Property Group stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.54, for a total transaction of $738,500.00. Following the completion of the transaction, the insider now owns 315,004 shares in the company, valued at approximately $9,305,218.16. This trade represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.76% of the stock is currently owned by insiders.

Institutional Trading of Brixmor Property Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. UMB Bank n.a. lifted its stake in shares of Brixmor Property Group by 328.6% during the 3rd quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 723 shares during the last quarter. Blue Trust Inc. lifted its position in Brixmor Property Group by 258.9% during the second quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,007 shares during the last quarter. Quarry LP boosted its holdings in shares of Brixmor Property Group by 36.3% during the third quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 364 shares during the period. Maryland Capital Advisors Inc. bought a new stake in shares of Brixmor Property Group during the third quarter worth approximately $46,000. Finally, Abich Financial Wealth Management LLC grew its position in shares of Brixmor Property Group by 50.7% in the first quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 775 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

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.