Brixmor Property Group Inc. (NYSE:BRX) was upgraded by analysts at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a report released on Monday.
A number of other equities research analysts have also recently issued reports on the company. TheStreet upgraded Brixmor Property Group from a “sell” rating to a “hold” rating in a research note on Monday, October 31st. Mitsubishi UFJ Financial Group initiated coverage on Brixmor Property Group in a research note on Wednesday, September 7th. They issued an “outperform” rating and a $29.00 price objective on the stock. Zacks Investment Research lowered Brixmor Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, November 9th. Evercore ISI raised Brixmor Property Group from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Monday, August 22nd. Finally, Citigroup Inc. raised Brixmor Property Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $28.00 to $31.00 in a report on Friday, August 12th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Brixmor Property Group has an average rating of “Hold” and an average price target of $28.36.
Brixmor Property Group (NYSE:BRX) traded up 1.02% on Monday, hitting $24.84. 2,808,171 shares of the stock were exchanged. The company has a 50-day moving average price of $25.17 and a 200-day moving average price of $26.56. Brixmor Property Group has a 52-week low of $19.91 and a 52-week high of $29.14. The firm has a market cap of $7.56 billion, a PE ratio of 31.36 and a beta of 0.61.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, October 24th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.51. Brixmor Property Group had a return on equity of 8.19% and a net margin of 18.62%. The business had revenue of $318.58 million for the quarter, compared to analysts’ expectations of $312.70 million. During the same period in the previous year, the business posted $0.51 EPS. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Brixmor Property Group will post $2.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Thursday, January 5th will be paid a $0.26 dividend. The ex-dividend date is Tuesday, January 3rd. This represents a $1.04 annualized dividend and a yield of 4.19%. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.25. Brixmor Property Group’s dividend payout ratio is currently 125.64%.
In related news, Director John Schreiber acquired 10,000 shares of the stock in a transaction on Friday, November 18th. The stock was purchased at an average price of $23.70 per share, for a total transaction of $237,000.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $118,500. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Steven F. Siegel sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $27.98, for a total value of $167,880.00. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. TLP Group LLC acquired a new position in shares of Brixmor Property Group during the third quarter worth approximately $118,000. Point72 Asia Hong Kong Ltd acquired a new position in shares of Brixmor Property Group during the second quarter worth approximately $124,000. Mn Services Vermogensbeheer B.V. increased its position in shares of Brixmor Property Group by 19.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 5,309 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 871 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of Brixmor Property Group by 10.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 6,140 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 586 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of Brixmor Property Group by 4.7% in the second quarter. American International Group Inc. now owns 6,403 shares of the real estate investment trust’s stock worth $169,000 after buying an additional 287 shares in the last quarter.
About Brixmor Property Group