Brixmor Property Group (NYSE:BRX) Reaches New 1-Year High at $27.70

Brixmor Property Group Inc. (NYSE:BRX) hit a new 52-week high on Thursday . The stock traded as high as $27.70 and last traded at $27.63, with a volume of 115754 shares. The stock had previously closed at $27.37.

Wall Street Analysts Forecast Growth

BRX has been the subject of several research analyst reports. Evercore ISI raised their price objective on Brixmor Property Group from $26.00 to $27.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Compass Point raised their price objective on Brixmor Property Group from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Truist Financial raised their price objective on Brixmor Property Group from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. KeyCorp raised their price objective on Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group raised their price objective on Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $28.13.

Brixmor Property Group Price Performance

The company has a debt-to-equity ratio of 1.88, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a 50 day moving average price of $25.01 and a 200-day moving average price of $23.25. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 4.79 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The company had revenue of $315.69 million for the quarter, compared to analyst estimates of $317.75 million. Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.52 EPS. On average, analysts forecast that Brixmor Property Group Inc. will post 2.13 earnings per share for the current year.

Brixmor Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be given a $0.2725 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.09 dividend on an annualized basis and a yield of 3.98%. Brixmor Property Group’s dividend payout ratio is currently 117.20%.

Insider Buying and Selling at Brixmor Property Group

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of Brixmor Property Group stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total value of $127,250.00. Following the sale, the director now owns 46,291 shares in the company, valued at $1,178,105.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Steven F. Siegel sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the sale, 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 available through this link. Also, Director Sheryl Maxwell Crosland sold 5,000 shares of the business’s stock in a transaction 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 sale, the director now owns 46,291 shares in the company, valued at approximately $1,178,105.95. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Brixmor Property Group

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its holdings in Brixmor Property Group by 258.9% during the 2nd quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,007 shares during the period. Quarry LP acquired a new position in shares of Brixmor Property Group during the 4th quarter worth about $40,000. Larson Financial Group LLC acquired a new position in shares of Brixmor Property Group during the 1st quarter worth about $47,000. Abich Financial Wealth Management LLC boosted its position in shares of Brixmor Property Group by 50.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 775 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in shares of Brixmor Property Group by 19.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,684 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 431 shares in the last quarter. Hedge funds and other 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.