Truist Financial Raises Brixmor Property Group (NYSE:BRX) Price Target to $31.00

Brixmor Property Group (NYSE:BRX) had its price objective hoisted by Truist Financial from $28.00 to $31.00 in a research report released on Friday,Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on the stock. Scotiabank raised their target price on shares of Brixmor Property Group from $25.00 to $29.00 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Piper Sandler reiterated an “overweight” rating and issued a $33.00 price target (up previously from $30.00) on shares of Brixmor Property Group in a research note on Wednesday, July 31st. KeyCorp lifted their price objective on Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. raised their price target on Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group upped their target price on shares of Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.13.

Brixmor Property Group Trading Up 1.5 %

NYSE:BRX opened at $29.26 on Friday. The stock’s fifty day moving average price is $27.83 and its two-hundred day moving average price is $25.29. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.38 and a quick ratio of 1.38. Brixmor Property Group has a 1 year low of $20.80 and a 1 year high of $29.28. The company has a market cap of $8.84 billion, a P/E ratio of 27.09, a P/E/G ratio of 3.93 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last announced its earnings results 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). Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. The business had revenue of $320.68 million during the quarter, compared to the consensus estimate of $320.22 million. During the same quarter in the prior year, the company earned $0.50 earnings per share. Brixmor Property Group’s revenue was up 4.3% compared to the same quarter last year. As a group, analysts expect that Brixmor Property Group will post 2.14 EPS for the current year.

Brixmor Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be issued a $0.287 dividend. This represents a $1.15 annualized dividend and a yield of 3.92%. The ex-dividend date is Friday, January 3rd. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s dividend payout ratio (DPR) is currently 106.48%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BRX. Quarry LP lifted its holdings in Brixmor Property Group by 36.3% in the third quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 364 shares during the period. Creative Planning raised its stake in shares of Brixmor Property Group by 2.8% in the 2nd quarter. Creative Planning now owns 14,615 shares of the real estate investment trust’s stock valued at $337,000 after acquiring an additional 396 shares during the period. Fifth Third Bancorp boosted its holdings 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 valued at $62,000 after acquiring an additional 431 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Brixmor Property Group by 5.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,640 shares of the real estate investment trust’s stock worth $223,000 after acquiring an additional 481 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Brixmor Property Group by 0.4% in the third quarter. State of Alaska Department of Revenue now owns 178,123 shares of the real estate investment trust’s stock worth $4,961,000 after acquiring an additional 643 shares during 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.