Scotiabank Issues Positive Forecast for Brixmor Property Group (NYSE:BRX) Stock Price

Brixmor Property Group (NYSE:BRX) had its target price boosted by equities researchers at Scotiabank from $29.00 to $32.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price target would indicate a potential upside of 5.68% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Evercore ISI lifted their price target on shares of 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. Truist Financial lifted their price target on shares of Brixmor Property Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Mizuho lifted their price target on shares of Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, Piper Sandler reiterated an “overweight” rating and set a $33.00 price target (up previously from $30.00) on shares of Brixmor Property Group in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.38.

Brixmor Property Group Trading Up 0.9 %

Shares of Brixmor Property Group stock opened at $30.28 on Monday. The company’s fifty day simple moving average is $28.05 and its 200-day simple moving average is $25.56. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 4.07 and a beta of 1.57. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85. Brixmor Property Group has a 1 year low of $20.80 and a 1 year high of $30.31.

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

Insider Activity at Brixmor Property Group

In related news, insider Steven F. Siegel sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total transaction of $738,500.00. Following the transaction, the insider now owns 315,004 shares in the company, valued at $9,305,218.16. This represents a 7.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its position in Brixmor Property Group by 328.6% during the 3rd quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 723 shares in the last quarter. Blue Trust Inc. lifted its position in Brixmor Property Group by 258.9% during the 2nd quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,007 shares during the period. Quarry LP lifted its position in Brixmor Property Group by 36.3% during the 3rd quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 364 shares during the period. Maryland Capital Advisors Inc. acquired a new position in Brixmor Property Group during the 3rd quarter valued at about $46,000. Finally, Abich Financial Wealth Management LLC lifted its position in Brixmor Property Group by 50.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 775 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

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.