Evercore ISI Increases Brixmor Property Group (NYSE:BRX) Price Target to $28.00

Brixmor Property Group (NYSE:BRX) had its price objective upped by equities research analysts at Evercore ISI from $27.00 to $28.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price would indicate a potential downside of 0.02% from the stock’s current price.

Several other research analysts have also commented on the company. KeyCorp boosted their price target 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. Compass Point boosted their target price on shares of Brixmor Property Group from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Piper Sandler restated an “overweight” rating and issued a $33.00 price target (up from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. Mizuho boosted their price objective 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, StockNews.com cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Brixmor Property Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.38.

Brixmor Property Group Stock Performance

BRX stock opened at $28.01 on Monday. Brixmor Property Group has a 1-year low of $19.46 and a 1-year high of $28.38. The business has a 50-day moving average price of $25.77 and a 200 day moving average price of $23.52. The company has a market capitalization of $8.44 billion, a P/E ratio of 30.11, a PEG ratio of 4.78 and a beta of 1.57. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.50 and a quick ratio of 1.50.

Brixmor Property Group (NYSE:BRX) last posted 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). Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The business had revenue of $315.69 million during the quarter, compared to the consensus estimate of $317.75 million. During the same quarter in the prior year, the firm posted $0.52 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that Brixmor Property Group will post 2.13 EPS for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Brixmor Property Group

A number of hedge funds have recently made changes to their positions in BRX. Blue Trust Inc. grew its position in Brixmor Property Group by 258.9% in the 2nd quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,007 shares in the last quarter. Quarry LP purchased a new stake in Brixmor Property Group during the 4th quarter worth approximately $40,000. Larson Financial Group LLC purchased a new stake in Brixmor Property Group during the 1st quarter worth approximately $47,000. Abich Financial Wealth Management LLC lifted its holdings 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 worth $54,000 after buying an additional 775 shares in the last quarter. Finally, Fifth Third Bancorp boosted its position in Brixmor Property Group by 19.1% in the 2nd quarter. Fifth Third Bancorp now owns 2,684 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 431 shares during the period. 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.