Brixmor Property Group (NYSE:BRX) Given New $30.00 Price Target at Scotiabank

Brixmor Property Group (NYSE:BRX) had its target price reduced by Scotiabank from $32.00 to $30.00 in a research report report published on Friday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the real estate investment trust’s stock.

A number of other research analysts have also weighed in on the stock. Wells Fargo & Company reduced their price objective on shares of Brixmor Property Group from $29.00 to $27.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Jefferies Financial Group upgraded shares of Brixmor Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $28.00 to $33.00 in a research note on Friday, February 14th. Evercore ISI upgraded shares of Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 price objective for the company in a research note on Tuesday, February 11th. Stifel Nicolaus reduced their price objective on shares of Brixmor Property Group from $31.75 to $31.25 and set a “hold” rating for the company in a research note on Tuesday, February 11th. Finally, BMO Capital Markets upgraded shares of Brixmor Property Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $30.00 to $33.00 in a research report on Friday, December 6th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.56.

Brixmor Property Group Trading Up 1.2 %

NYSE:BRX opened at $27.94 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $8.55 billion, a PE ratio of 25.17, a price-to-earnings-growth ratio of 2.66 and a beta of 1.58. The firm’s 50 day moving average is $26.90 and its 200 day moving average is $27.60. Brixmor Property Group has a 12 month low of $20.80 and a 12 month high of $30.67.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.31. Brixmor Property Group had a net margin of 26.40% and a return on equity of 11.72%. Sell-side analysts expect that Brixmor Property Group will post 2.22 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.2875 per share. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.29. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Wednesday, April 2nd. Brixmor Property Group’s payout ratio is currently 103.60%.

Institutional Trading of Brixmor Property Group

Hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA lifted its holdings in shares of Brixmor Property Group by 222.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 37,706 shares of the real estate investment trust’s stock worth $1,050,000 after acquiring an additional 26,000 shares during the last quarter. Vestcor Inc bought a new stake in shares of Brixmor Property Group during the 3rd quarter worth $776,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Brixmor Property Group by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,959,993 shares of the real estate investment trust’s stock worth $138,185,000 after acquiring an additional 159,388 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in shares of Brixmor Property Group by 95.0% during the 4th quarter. Park Avenue Securities LLC now owns 25,852 shares of the real estate investment trust’s stock worth $720,000 after acquiring an additional 12,593 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in shares of Brixmor Property Group by 33.3% during the 3rd quarter. Natixis Advisors LLC now owns 147,477 shares of the real estate investment trust’s stock worth $4,108,000 after acquiring an additional 36,823 shares during the last quarter. 98.43% of the stock is owned by institutional investors.

Brixmor Property Group Company Profile

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.