Mizuho Upgrades Brixmor Property Group (BRX) to Buy
Brixmor Property Group (NYSE:BRX) was upgraded by research analysts at Mizuho to a “buy” rating in a research report issued on Thursday.
A number of other equities analysts also recently issued reports on BRX. Zacks Investment Research raised shares of Brixmor Property Group from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. BMO Capital Markets set a $20.00 price target on shares of Brixmor Property Group and gave the stock a “hold” rating in a report on Tuesday, October 31st. Boenning Scattergood set a $22.00 price target on shares of Brixmor Property Group and gave the stock a “buy” rating in a report on Wednesday, November 1st. Royal Bank of Canada reissued a “hold” rating and issued a $22.00 price target on shares of Brixmor Property Group in a report on Thursday, November 2nd. Finally, Stifel Nicolaus initiated coverage on shares of Brixmor Property Group in a report on Thursday, November 30th. They issued a “hold” rating and a $19.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $18.80.
Brixmor Property Group (BRX) opened at $15.29 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.95. Brixmor Property Group has a fifty-two week low of $13.74 and a fifty-two week high of $23.85. The stock has a market cap of $4,768.62, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 1.95 and a beta of 0.35.
Brixmor Property Group announced that its Board of Directors has initiated a share buyback plan on Tuesday, December 5th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
In related news, EVP Mark Horgan purchased 4,500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were purchased at an average cost of $14.94 per share, for a total transaction of $67,230.00. Following the completion of the transaction, the executive vice president now directly owns 62,769 shares in the company, valued at approximately $937,768.86. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Davis Selected Advisers bought a new stake in shares of Brixmor Property Group during the third quarter valued at about $2,874,000. Swiss National Bank grew its holdings in shares of Brixmor Property Group by 1.0% during the third quarter. Swiss National Bank now owns 1,120,650 shares of the real estate investment trust’s stock worth $21,068,000 after purchasing an additional 11,600 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Brixmor Property Group by 20.2% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 120,208 shares of the real estate investment trust’s stock worth $2,260,000 after purchasing an additional 20,228 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Brixmor Property Group by 6.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,088,271 shares of the real estate investment trust’s stock worth $20,459,000 after purchasing an additional 61,943 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD grew its holdings in shares of Brixmor Property Group by 1,204.2% during the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 422,565 shares of the real estate investment trust’s stock worth $7,885,000 after purchasing an additional 390,164 shares in the last quarter.
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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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