Evercore ISI Cuts Brixmor Property Group (NYSE:BRX) Price Target to $31.00

Brixmor Property Group (NYSE:BRX) had its target price cut by Evercore ISI from $32.00 to $31.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

A number of other brokerages have also weighed in on BRX. Mizuho boosted their price objective on shares of Brixmor Property Group from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. 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 report on Wednesday, August 28th. Stifel Nicolaus raised their price objective 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. Compass Point upped their target price on Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, BMO Capital Markets raised shares of Brixmor Property Group from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $30.00 to $33.00 in a research report on Friday, December 6th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Brixmor Property Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.19.

Brixmor Property Group Trading Up 0.7 %

Brixmor Property Group stock opened at $27.72 on Tuesday. Brixmor Property Group has a one year low of $20.80 and a one year high of $30.67. The stock has a market cap of $8.37 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 3.96 and a beta of 1.58. 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 50-day moving average of $28.69 and a two-hundred day moving average of $26.58.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.32 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 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 revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. On average, research analysts anticipate that Brixmor Property Group will post 2.14 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be issued a dividend of $0.287 per share. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 dividend on an annualized basis and a yield of 4.14%. Brixmor Property Group’s dividend payout ratio is 106.48%.

Insider Activity at Brixmor Property Group

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

Institutional Trading of Brixmor Property Group

Several institutional investors have recently bought and sold shares of BRX. Wealth Enhancement Advisory Services LLC raised its stake in shares of Brixmor Property Group by 5.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,640 shares of the real estate investment trust’s stock worth $223,000 after buying an additional 481 shares during the period. Fifth Third Bancorp raised its position in Brixmor Property Group by 19.1% during the second 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 period. Bank of New York Mellon Corp raised its position in Brixmor Property Group by 0.5% during the second quarter. Bank of New York Mellon Corp now owns 3,547,460 shares of the real estate investment trust’s stock worth $81,911,000 after acquiring an additional 18,864 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Brixmor Property Group by 9.6% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,159 shares of the real estate investment trust’s stock valued at $1,251,000 after purchasing an additional 4,761 shares in the last quarter. Finally, RWC Asset Management LLP grew its position in shares of Brixmor Property Group by 0.5% in the second quarter. RWC Asset Management LLP now owns 831,076 shares of the real estate investment trust’s stock valued at $19,190,000 after purchasing an additional 4,284 shares during the period. 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.