Analysts Set Brixmor Property Group Inc. (BRX) Price Target at $24.21
Shares of Brixmor Property Group Inc. (NYSE:BRX) have received a consensus rating of “Hold” from the fifteen research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $24.21.
BRX has been the subject of a number of recent research reports. Citigroup Inc. lowered their price objective on Brixmor Property Group from $26.00 to $20.50 and set a “neutral” rating for the company in a research note on Tuesday, May 9th. Zacks Investment Research upgraded Brixmor Property Group from a “sell” rating to a “hold” rating in a research note on Friday, May 19th. ValuEngine cut Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Barclays PLC decreased their price target on Brixmor Property Group from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, June 16th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $23.00 price target on shares of Brixmor Property Group in a research note on Monday, June 19th.
In other news, Director John Schreiber acquired 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was bought at an average price of $18.72 per share, with a total value of $187,200.00. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $374,400. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James M. Taylor, Jr. acquired 15,600 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average cost of $19.24 per share, with a total value of $300,144.00. Following the acquisition, the insider now directly owns 224,793 shares of the company’s stock, valued at $4,325,017.32. The disclosure for this purchase can be found here. Insiders own 0.27% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Brixmor Property Group by 2,015.3% in the first quarter. BlackRock Inc. now owns 21,523,219 shares of the real estate investment trust’s stock valued at $461,888,000 after buying an additional 20,505,706 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Brixmor Property Group by 122.5% in the first quarter. Bank of New York Mellon Corp now owns 3,533,889 shares of the real estate investment trust’s stock valued at $75,840,000 after buying an additional 1,945,697 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Brixmor Property Group by 50.6% in the first quarter. Nuveen Asset Management LLC now owns 4,610,796 shares of the real estate investment trust’s stock valued at $98,948,000 after buying an additional 1,549,548 shares during the last quarter. First Manhattan Co. raised its stake in shares of Brixmor Property Group by 399.3% in the second quarter. First Manhattan Co. now owns 1,537,970 shares of the real estate investment trust’s stock valued at $27,498,000 after buying an additional 1,229,970 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Brixmor Property Group by 12.0% in the second quarter. State Street Corp now owns 10,792,595 shares of the real estate investment trust’s stock valued at $192,965,000 after buying an additional 1,159,181 shares during the last quarter.
Brixmor Property Group (NYSE:BRX) traded up 1.23% during midday trading on Tuesday, reaching $18.95. The company had a trading volume of 1,796,858 shares. The stock has a market capitalization of $5.78 billion, a PE ratio of 19.42 and a beta of 0.53. Brixmor Property Group has a 12-month low of $17.35 and a 12-month high of $29.14. The company has a 50-day moving average of $19.17 and a 200-day moving average of $19.96.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.02. The business had revenue of $322.80 million during the quarter, compared to analysts’ expectations of $315.69 million. Brixmor Property Group had a return on equity of 10.22% and a net margin of 23.06%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 earnings per share. On average, analysts predict that Brixmor Property Group will post $0.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Thursday, October 5th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 5.49%. The ex-dividend date is Wednesday, October 4th. Brixmor Property Group’s dividend payout ratio is currently 106.12%.
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About Brixmor Property Group
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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