Wells Fargo & Company Lowers Brixmor Property Group (NYSE:BRX) Price Target to $27.00

Brixmor Property Group (NYSE:BRX) had its price target dropped by investment analysts at Wells Fargo & Company from $29.00 to $27.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target points to a potential upside of 2.10% from the stock’s current price.

Several other equities research analysts have also recently commented on BRX. BMO Capital Markets upgraded shares of Brixmor Property Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $30.00 to $33.00 in a research report on Friday, December 6th. Scotiabank upped their target price on shares of Brixmor Property Group from $29.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Monday, November 25th. KeyCorp increased their price target on Brixmor Property Group from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Mizuho lifted their price objective on Brixmor Property Group from $28.00 to $31.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Finally, Truist Financial increased their target price on Brixmor Property Group from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Brixmor Property Group has an average rating of “Moderate Buy” and an average target price of $30.38.

Brixmor Property Group Stock Up 1.8 %

Shares of NYSE BRX opened at $26.45 on Wednesday. Brixmor Property Group has a 12-month low of $20.80 and a 12-month high of $30.67. The firm’s 50-day simple moving average is $27.84 and its 200 day simple moving average is $27.30. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.85. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 3.58 and a beta of 1.59.

Brixmor Property Group (NYSE:BRX) last released 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). The firm had revenue of $320.68 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 EPS. On average, research analysts expect that Brixmor Property Group will post 2.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steven F. Siegel sold 25,000 shares of Brixmor Property Group stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total value of $738,500.00. Following the sale, the insider now directly owns 315,004 shares in the company, valued at $9,305,218.16. This trade represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Brixmor Property Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRX. Geode Capital Management LLC increased its position in shares of Brixmor Property Group by 0.8% in the third quarter. Geode Capital Management LLC now owns 5,615,014 shares of the real estate investment trust’s stock valued at $156,473,000 after acquiring an additional 44,485 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Brixmor Property Group by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,959,993 shares of the real estate investment trust’s stock worth $138,185,000 after purchasing an additional 159,388 shares during the last quarter. Zurich Insurance Group Ltd FI raised its stake in shares of Brixmor Property Group by 44.7% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 3,104,772 shares of the real estate investment trust’s stock worth $86,499,000 after purchasing an additional 959,000 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Brixmor Property Group by 3.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,365,410 shares of the real estate investment trust’s stock valued at $65,900,000 after buying an additional 79,778 shares during the last quarter. Finally, Captrust Financial Advisors bought a new position in shares of Brixmor Property Group in the third quarter valued at $46,695,000. 98.43% of the stock is owned by institutional investors.

Brixmor Property Group Company Profile

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.