Brixmor Property Group (NYSE:BRX) Sets New 12-Month High Following Analyst Upgrade

Shares of Brixmor Property Group Inc. (NYSE:BRX) reached a new 52-week high on Tuesday after KeyCorp raised their price target on the stock from $28.00 to $32.00. KeyCorp currently has an overweight rating on the stock. Brixmor Property Group traded as high as $29.18 and last traded at $29.08, with a volume of 51013 shares changing hands. The stock had previously closed at $28.97.

BRX has been the subject of several other research reports. Evercore ISI upped their target price on Brixmor Property Group from $27.00 to $28.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Stifel Nicolaus upped their price target on Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a research note on Tuesday, October 29th. Scotiabank increased their target price on Brixmor Property Group from $25.00 to $29.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Piper Sandler reaffirmed an “overweight” rating and set a $33.00 price objective (up from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company increased their price objective on Brixmor Property Group from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Brixmor Property Group has an average rating of “Moderate Buy” and a consensus target price of $28.88.

Insider Activity

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total transaction of $127,250.00. Following the completion of the transaction, the director now owns 46,291 shares of the company’s stock, valued at $1,178,105.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.76% of the company’s stock.

Institutional Trading of Brixmor Property Group

Several hedge funds have recently added to or reduced their stakes in BRX. Natixis Advisors LLC increased its holdings in shares of Brixmor Property Group by 33.3% in the 3rd quarter. Natixis Advisors LLC now owns 147,477 shares of the real estate investment trust’s stock valued at $4,108,000 after acquiring an additional 36,823 shares during the period. CIBC Asset Management Inc purchased a new position in Brixmor Property Group in the 3rd quarter valued at $247,000. Metis Global Partners LLC grew its position in Brixmor Property Group by 29.7% in the 3rd quarter. Metis Global Partners LLC now owns 31,021 shares of the real estate investment trust’s stock valued at $864,000 after buying an additional 7,103 shares during the last quarter. KBC Group NV grew its position in Brixmor Property Group by 14.3% in the 3rd quarter. KBC Group NV now owns 7,157 shares of the real estate investment trust’s stock valued at $199,000 after buying an additional 897 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its position in Brixmor Property Group by 65.6% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 197,574 shares of the real estate investment trust’s stock valued at $5,504,000 after buying an additional 78,236 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Brixmor Property Group Trading Up 0.4 %

The business’s 50-day moving average is $27.68 and its two-hundred day moving average is $25.05. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $8.78 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 3.92 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). The firm had revenue of $320.68 million during the quarter, compared to analysts’ expectations of $320.22 million. Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $0.50 earnings per share. As a group, equities research analysts anticipate that Brixmor Property Group Inc. will post 2.14 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.287 per share. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Friday, January 3rd. Brixmor Property Group’s payout ratio is presently 100.93%.

Brixmor Property Group Company Profile

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.