Wells Fargo & Company Cuts Brixmor Property Group (NYSE:BRX) Price Target to $27.00

Brixmor Property Group (NYSE:BRX) had its price target lowered by Wells Fargo & Company from $29.00 to $27.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 2.10% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets upgraded Brixmor Property Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $30.00 to $33.00 in a research report on Friday, December 6th. KeyCorp raised their price target on shares of Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Scotiabank boosted their price objective on shares of Brixmor Property Group from $29.00 to $32.00 and gave the company a “sector outperform” rating in a report on Monday, November 25th. Stifel Nicolaus raised their target price on shares of Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a report on Tuesday, October 29th. Finally, Evercore ISI cut their price target on Brixmor Property Group from $32.00 to $31.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Brixmor Property Group has a consensus rating of “Moderate Buy” and an average target price of $30.38.

Brixmor Property Group Stock Performance

Shares of BRX stock opened at $26.45 on Wednesday. Brixmor Property Group has a 52 week low of $20.80 and a 52 week high of $30.67. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 3.58 and a beta of 1.59. The company has a 50-day simple moving average of $27.84 and a 200 day simple moving average of $27.30. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38.

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

Insider Buying and Selling

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of the business’s 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 of the company’s stock, valued at approximately $9,305,218.16. The trade was a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Brixmor Property Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its stake in shares of Brixmor Property Group by 8.4% during the second quarter. Bank of Montreal Can now owns 97,954 shares of the real estate investment trust’s stock worth $2,265,000 after buying an additional 7,610 shares during the last quarter. Marshall Wace LLP grew its position in Brixmor Property Group by 9.3% during the 2nd quarter. Marshall Wace LLP now owns 15,082 shares of the real estate investment trust’s stock worth $348,000 after acquiring an additional 1,285 shares during the last quarter. AQR Capital Management LLC increased its holdings in Brixmor Property Group by 33.3% in the 2nd quarter. AQR Capital Management LLC now owns 730,619 shares of the real estate investment trust’s stock worth $16,658,000 after purchasing an additional 182,566 shares in the last quarter. Creative Planning raised its position in Brixmor Property Group by 2.8% in the second quarter. Creative Planning now owns 14,615 shares of the real estate investment trust’s stock valued at $337,000 after purchasing an additional 396 shares during the last quarter. Finally, Truist Financial Corp boosted its stake in shares of Brixmor Property Group by 0.8% during the second quarter. Truist Financial Corp now owns 84,381 shares of the real estate investment trust’s stock valued at $1,948,000 after purchasing an additional 659 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Brixmor Property Group Company Profile

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.