Brixmor Property Group (NYSE:BRX) Price Target Raised to $28.00

Brixmor Property Group (NYSE:BRX) had its price target boosted by Truist Financial from $25.00 to $28.00 in a research note released on Friday, Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

A number of other brokerages have also recently weighed in on BRX. Mizuho reduced their price objective on Brixmor Property Group from $24.00 to $23.00 and set a neutral rating for the company in a research note on Thursday, May 23rd. KeyCorp increased their price target on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an overweight rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company an overweight rating in a research note on Wednesday, July 31st. Piper Sandler reiterated an overweight rating and set a $33.00 target price (up previously from $30.00) on shares of Brixmor Property Group in a research note on Wednesday, July 31st. Finally, Compass Point boosted their price target on Brixmor Property Group from $26.00 to $28.00 and gave the company a buy rating in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $27.14.

Brixmor Property Group Stock Up 0.2 %

Shares of Brixmor Property Group stock opened at $25.92 on Friday. The company has a market capitalization of $7.81 billion, a P/E ratio of 27.87, a P/E/G ratio of 4.43 and a beta of 1.57. The company has a 50 day moving average of $23.79 and a 200 day moving average of $22.85. Brixmor Property Group has a 52-week low of $19.46 and a 52-week high of $26.41. The company has a quick ratio of 1.45, a current ratio of 1.50 and a debt-to-equity ratio of 1.88.

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 for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The company had revenue of $315.69 million during the quarter, compared to analysts’ expectations of $317.75 million. Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. Brixmor Property Group’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. As a group, research 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. Investors of record on Wednesday, October 2nd will be paid a $0.2725 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.21%. Brixmor Property Group’s dividend payout ratio (DPR) is presently 117.20%.

Insiders Place Their Bets

In other Brixmor Property Group news, insider Steven F. Siegel sold 10,000 shares of the business’s stock in a transaction 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 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 Securities & Exchange Commission, which is available through the SEC website. In other news, Director Sheryl Maxwell Crosland sold 5,000 shares of Brixmor Property Group stock in a transaction that occurred on 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 sale, the director now directly owns 46,291 shares in the company, valued at approximately $1,178,105.95. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Steven F. Siegel sold 10,000 shares of the business’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 sale, the insider now directly owns 360,004 shares in the company, valued at approximately $8,640,096. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Brixmor Property Group

Several hedge funds have recently bought and sold shares of the company. Oliver Luxxe Assets LLC acquired a new stake in Brixmor Property Group in the fourth quarter valued at $851,000. Quest Partners LLC purchased a new position in Brixmor Property Group during the 4th quarter valued at about $1,572,000. Schroder Investment Management Group increased its holdings in Brixmor Property Group by 4.9% during the 4th quarter. Schroder Investment Management Group now owns 1,904,192 shares of the real estate investment trust’s stock valued at $44,311,000 after acquiring an additional 89,445 shares in the last quarter. PGGM Investments raised its position in Brixmor Property Group by 167.2% during the second quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock worth $86,847,000 after acquiring an additional 2,353,582 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new stake in shares of Brixmor Property Group in the first quarter valued at approximately $16,964,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

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.