Brixmor Property Group (NYSE:BRX) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Brixmor Property Group Inc. (NYSE:BRX) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $29.58 and traded as high as $30.37. Brixmor Property Group shares last traded at $30.2480, with a volume of 4,580,711 shares.

Wall Street Analyst Weigh In

A number of research firms have commented on BRX. Wells Fargo & Company raised Brixmor Property Group to a “hold” rating in a report on Thursday, July 23rd. Citigroup lowered their price objective on shares of Brixmor Property Group from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday. UBS Group dropped their price objective on shares of Brixmor Property Group from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Brixmor Property Group in a report on Thursday, October 29th. Finally, Piper Sandler lowered their price objective on Brixmor Property Group from $40.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Brixmor Property Group has a consensus rating of “Moderate Buy” and an average target price of $32.95.

Brixmor Property Group Stock Up 2.8%

The business’s 50 day simple moving average is $28.25 and its 200 day simple moving average is $29.58. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $9.28 billion, a PE ratio of 22.08, a PEG ratio of 2.27 and a beta of 0.95.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.31). Brixmor Property Group had a net margin of 29.96% and a return on equity of 14.10%. The company had revenue of $359.60 million for the quarter, compared to analysts’ expectations of $357.28 million. During the same quarter last year, the company earned $0.56 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Brixmor Property Group Inc. will post 2.37 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, January 5th will be given a $0.33 dividend. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.3075. The ex-dividend date of this dividend is Tuesday, January 5th. This represents a $1.32 dividend on an annualized basis and a yield of 4.4%. Brixmor Property Group’s dividend payout ratio is currently 96.35%.

Institutional Investors Weigh In On Brixmor Property Group

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in Brixmor Property Group in the 2nd quarter valued at $1,265,950,000. Canada Pension Plan Investment Board purchased a new stake in Brixmor Property Group in the second quarter worth $180,406,000. Principal Financial Group Inc. lifted its position in shares of Brixmor Property Group by 686.1% during the first quarter. Principal Financial Group Inc. now owns 5,176,486 shares of the real estate investment trust’s stock worth $149,083,000 after purchasing an additional 4,518,001 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Brixmor Property Group by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,790,090 shares of the real estate investment trust’s stock worth $137,955,000 after purchasing an additional 64,449 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of Brixmor Property Group during the second quarter worth $122,922,000. 98.43% of the stock is owned by institutional investors.

About Brixmor Property Group

Brixmor Property Group Inc (NYSE: BRX) is a real estate investment trust that owns and operates open-air shopping centers across the United States. Its portfolio is primarily focused on grocery-anchored community and neighborhood centers located in established, densely populated markets.

The company leases retail space to a diverse mix of tenants, including grocery stores, restaurants, service businesses, health and wellness providers, and other essential retailers. Brixmor also manages property operations and pursues redevelopment, re-tenanting, and leasing initiatives designed to enhance the functionality and long-term value of its shopping centers.

Brixmor became a publicly traded company in 2013 after being separated from an ownership structure associated with Blackstone.