Brixmor Property Group (NYSE:BRX) Stock Gets Price Target Cut from Stifel Nicolaus

Brixmor Property Group (NYSE:BRX) had its target price decreased by Stifel Nicolaus from $32.00 to $30.50 in a report issued on Tuesday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the real estate investment trust’s stock.

Several other research firms have also issued reports on BRX. Citigroup boosted their target price on shares of Brixmor Property Group from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Truist Financial initiated coverage on Brixmor Property Group in a report on Friday, October 2nd. They set a “buy” rating and a $31.00 price target for the company. Piper Sandler lowered their price objective on Brixmor Property Group from $40.00 to $36.00 and set an “overweight” rating for the company in a research report on Monday, October 12th. UBS Group lowered their price objective on Brixmor Property Group from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Finally, KeyCorp reissued an “overweight” rating and issued a $34.00 price objective on shares of Brixmor Property Group in a research note on Wednesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.14.

Brixmor Property Group Stock Up 2.7%

Shares of NYSE BRX opened at $29.17 on Tuesday. The company has a market capitalization of $8.95 billion, a P/E ratio of 21.29, a price-to-earnings-growth ratio of 2.19 and a beta of 0.97. Brixmor Property Group has a 52-week low of $24.66 and a 52-week high of $32.86. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.82 and a current ratio of 0.81. The company’s 50 day moving average price is $28.24 and its 200-day moving average price is $29.50.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $0.28 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 firm had revenue of $359.60 million during the quarter, compared to the consensus estimate of $357.28 million. During the same period in the prior year, the company posted $0.56 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts forecast that Brixmor Property Group will post 2.37 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, January 5th will be paid a dividend of $0.33 per share. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.3075. The ex-dividend date is Tuesday, January 5th. This represents a $1.32 dividend on an annualized basis and a yield of 4.5%. Brixmor Property Group’s dividend payout ratio (DPR) is presently 87.86%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BRX. Integrated Wealth Concepts LLC acquired a new position in shares of Brixmor Property Group during the second quarter valued at about $26,000. Parkside Financial Bank & Trust raised its holdings in shares of Brixmor Property Group by 103.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 876 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 446 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Brixmor Property Group in the 1st quarter worth about $26,000. Jones Financial Companies Lllp bought a new position in Brixmor Property Group in the 2nd quarter valued at about $29,000. Finally, Allworth Financial LP bought a new position in Brixmor Property Group in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

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.