Brixmor Property Group (NYSE:BRX) PT Raised to $29.00 at Scotiabank

Brixmor Property Group (NYSE:BRX) had its price target upped by Scotiabank from $25.00 to $29.00 in a research report released on Monday, Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on BRX. 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. KeyCorp lifted their target price on Brixmor Property Group from $26.00 to $28.00 and gave the stock an overweight rating in a research report on Wednesday, August 7th. Evercore ISI upgraded shares of Brixmor Property Group to a hold rating in a report on Tuesday, July 30th. Mizuho raised 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 reissued an overweight rating and issued a $33.00 price objective (up from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $27.86.

Brixmor Property Group Trading Up 0.7 %

Shares of BRX opened at $27.32 on Monday. The company’s fifty day simple moving average is $24.32 and its 200-day simple moving average is $23.03. The company has a market cap of $8.23 billion, a P/E ratio of 29.38, a P/E/G ratio of 4.43 and a beta of 1.57. The company has a current ratio of 1.50, a quick ratio of 1.45 and a debt-to-equity ratio of 1.88. Brixmor Property Group has a twelve month low of $19.46 and a twelve month high of $27.40.

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

Brixmor Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.2725 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.09 annualized dividend and a dividend yield of 3.99%. Brixmor Property Group’s dividend payout ratio (DPR) is presently 117.20%.

Insider Buying and Selling at Brixmor Property Group

In other news, insider Steven F. Siegel sold 10,000 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 360,004 shares of the company’s stock, valued at $8,640,096. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Steven F. Siegel sold 10,000 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 360,004 shares in the company, valued at approximately $8,640,096. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sheryl Maxwell Crosland sold 5,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total value of $127,250.00. Following the completion of the sale, the director now owns 46,291 shares of the company’s stock, valued at $1,178,105.95. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.

Institutional Trading of Brixmor Property Group

A number of institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its stake 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 in the last quarter. Quarry LP purchased a new stake in shares of Brixmor Property Group during the fourth quarter valued at $40,000. GAMMA Investing LLC acquired a new position in shares of Brixmor Property Group in the 4th quarter valued at $45,000. Larson Financial Group LLC acquired a new position in shares of Brixmor Property Group in the 1st quarter valued at $47,000. Finally, Abich Financial Wealth Management LLC raised its stake in Brixmor Property Group by 50.7% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 775 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

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.