Brixmor Property Group (NYSE:BRX) Price Target Raised to $27.00 at Mizuho

Brixmor Property Group (NYSE:BRX) had its price target boosted by Mizuho from $23.00 to $27.00 in a research report released on Monday, Benzinga reports. Mizuho currently has a neutral rating on the real estate investment trust’s stock.

Several other analysts have also commented on the company. KeyCorp lifted their price objective on Brixmor Property Group from $26.00 to $28.00 and gave the stock an overweight rating in a report on Wednesday, August 7th. Piper Sandler restated an overweight rating and set a $33.00 price target (up from $30.00) on shares of Brixmor Property Group in a research note on Wednesday, July 31st. Stifel Nicolaus increased their price objective on shares of Brixmor Property Group from $24.00 to $25.50 and gave the stock a hold rating in a research note on Tuesday, July 30th. Compass Point boosted their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company a buy rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut shares of Brixmor Property Group from a buy rating to a hold rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $27.50.

Brixmor Property Group Trading Up 0.9 %

NYSE BRX opened at $26.16 on Monday. Brixmor Property Group has a 12 month low of $19.46 and a 12 month high of $26.41. The company has a current ratio of 1.50, a quick ratio of 1.45 and a debt-to-equity ratio of 1.88. The stock’s fifty day moving average price is $23.79 and its 200-day moving average price is $22.85. The stock has a market cap of $7.88 billion, a P/E ratio of 28.13, a P/E/G ratio of 4.43 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The firm had revenue of $315.69 million during the quarter, compared to the consensus estimate of $317.75 million. During the same quarter in the previous year, the firm earned $0.52 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. As a group, equities analysts forecast that Brixmor Property Group will post 2.12 EPS for the current fiscal year.

Brixmor Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a dividend of $0.2725 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.09 dividend on an annualized basis and a yield of 4.17%. Brixmor Property Group’s dividend payout ratio is presently 117.20%.

Insider Transactions at Brixmor Property Group

In related news, insider Steven F. Siegel sold 10,000 shares of Brixmor Property Group stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the insider now owns 360,004 shares of the company’s stock, valued at approximately $8,640,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Brixmor Property Group news, insider Steven F. Siegel sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the sale, the insider now directly owns 360,004 shares of the company’s stock, valued at approximately $8,640,096. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sheryl Maxwell Crosland sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was 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 directly owns 46,291 shares in the company, valued at approximately $1,178,105.95. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in BRX. Canada Pension Plan Investment Board bought a new position in Brixmor Property Group during the first quarter valued at approximately $124,978,000. Norges Bank purchased a new stake in shares of Brixmor Property Group during the 4th quarter worth approximately $73,143,000. PGGM Investments boosted its position in shares of Brixmor Property Group by 167.2% during the 2nd quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock valued at $86,847,000 after acquiring an additional 2,353,582 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Brixmor Property Group in the second quarter valued at $49,546,000. Finally, Massachusetts Financial Services Co. MA increased its position in Brixmor Property Group by 16.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 14,985,745 shares of the real estate investment trust’s stock worth $348,718,000 after purchasing an additional 2,067,135 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.