Truist Financial Issues Positive Forecast for Brixmor Property Group (NYSE:BRX) Stock Price

Brixmor Property Group (NYSE:BRX) had its price objective raised by Truist Financial from $28.00 to $31.00 in a research note published on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on BRX. Piper Sandler reiterated an “overweight” rating and set a $33.00 target price (up from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. KeyCorp raised their price target on Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group raised their price target on Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Mizuho raised their price target on Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Finally, 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 report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.13.

Brixmor Property Group Price Performance

Shares of NYSE BRX traded up $0.15 during midday trading on Friday, reaching $28.83. 2,247,467 shares of the stock traded hands, compared to its average volume of 2,288,288. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $8.71 billion, a PE ratio of 26.69, a P/E/G ratio of 3.93 and a beta of 1.57. Brixmor Property Group has a one year low of $20.80 and a one year high of $29.19. The company’s 50 day moving average is $27.80 and its 200 day moving average is $25.20.

Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 EPS 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 net margin of 25.81% and a return on equity of 11.48%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 earnings per share. On average, equities research analysts anticipate that Brixmor Property Group will post 2.14 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be paid a $0.287 dividend. This represents a $1.15 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Friday, January 3rd. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s payout ratio is 100.93%.

Hedge Funds Weigh In On Brixmor Property Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRX. UMB Bank n.a. grew its stake in Brixmor Property Group by 328.6% in the third quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 723 shares during the last quarter. Blue Trust Inc. boosted its holdings in Brixmor Property Group by 258.9% in the second quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,007 shares in the last quarter. Quarry LP increased its position in shares of Brixmor Property Group by 36.3% in the third quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 364 shares in the last quarter. Maryland Capital Advisors Inc. purchased a new stake in shares of Brixmor Property Group in the third quarter valued at approximately $46,000. Finally, Abich Financial Wealth Management LLC increased its position in shares of Brixmor Property Group by 50.7% in the first quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 775 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

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.