Evercore ISI Raises Brixmor Property Group (NYSE:BRX) Price Target to $28.00

Brixmor Property Group (NYSE:BRX) had its target price increased by Evercore ISI from $27.00 to $28.00 in a report published on Monday, Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

Several other equities research analysts have also recently commented on BRX. Scotiabank boosted their price target on Brixmor Property Group from $25.00 to $29.00 and gave the company a sector outperform rating in a research note on Monday, August 26th. The Goldman Sachs Group increased their price target on shares of Brixmor Property Group from $26.00 to $29.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Compass Point lifted their price objective on shares of Brixmor Property Group from $28.00 to $30.00 and gave the company a buy rating in a research note on Tuesday, September 10th. Truist Financial upped their price objective on shares of Brixmor Property Group from $25.00 to $28.00 and gave the stock a buy rating in a report on Friday, August 16th. Finally, StockNews.com lowered Brixmor Property Group from a buy rating to a hold rating in a report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $28.38.

Brixmor Property Group Price Performance

BRX stock opened at $28.01 on Monday. The firm has a 50-day moving average of $26.08 and a two-hundred day moving average of $23.62. The firm has a market capitalization of $8.44 billion, a PE ratio of 30.11, a P/E/G ratio of 4.78 and a beta of 1.57. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.88. Brixmor Property Group has a one year low of $19.46 and a one year high of $28.45.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The company had revenue of $315.69 million for the quarter, compared to analysts’ expectations of $317.75 million. During the same period in the previous year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts forecast that Brixmor Property Group 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 issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Wednesday, October 2nd. Brixmor Property Group’s dividend payout ratio (DPR) is currently 117.20%.

Insiders Place Their Bets

In other Brixmor Property Group news, insider Steven F. Siegel sold 10,000 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the sale, the insider now directly owns 360,004 shares of the company’s stock, valued at approximately $8,640,096. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Sheryl Maxwell Crosland sold 5,000 shares of the company’s 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 completion of the transaction, the director now directly owns 46,291 shares in the company, valued at $1,178,105.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven F. Siegel sold 10,000 shares of Brixmor Property Group stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the insider now owns 360,004 shares in the company, valued at approximately $8,640,096. 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

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in shares of Brixmor Property Group by 258.9% in 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 last quarter. Quarry LP acquired a new stake in shares of Brixmor Property Group during the fourth quarter worth approximately $40,000. Larson Financial Group LLC bought a new position in shares of Brixmor Property Group in the first quarter valued at approximately $47,000. Abich Financial Wealth Management LLC boosted its holdings in shares of Brixmor Property Group by 50.7% in 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 grew its position in 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 during the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

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.