Boenning Scattergood upgraded shares of Brixmor Property Group Inc. (NYSE:BRX) from a neutral rating to an outperform rating in a report issued on Tuesday morning, MarketBeat.com reports. They currently have $22.00 price objective on the real estate investment trust’s stock.
A number of other equities research analysts have also weighed in on BRX. Royal Bank Of Canada restated a hold rating and issued a $23.00 price objective on shares of Brixmor Property Group in a report on Wednesday, August 2nd. BMO Capital Markets began coverage on shares of Brixmor Property Group in a report on Monday, September 11th. They issued a market perform rating and a $20.00 price objective on the stock. Barclays PLC restated a hold rating and issued a $22.00 price objective on shares of Brixmor Property Group in a report on Monday, August 14th. Zacks Investment Research upgraded shares of Brixmor Property Group from a sell rating to a hold rating in a report on Friday, August 4th. Finally, Mizuho upgraded shares of Brixmor Property Group from a neutral rating to a buy rating and set a $22.00 price objective on the stock in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $23.85.
Brixmor Property Group (NYSE:BRX) opened at 19.70 on Tuesday. The firm has a 50-day moving average of $19.26 and a 200 day moving average of $19.64. The stock has a market capitalization of $6.01 billion, a price-to-earnings ratio of 20.18 and a beta of 0.54. Brixmor Property Group has a 12-month low of $17.35 and a 12-month high of $29.14.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.02. Brixmor Property Group had a net margin of 23.06% and a return on equity of 10.22%. The business had revenue of $322.80 million for the quarter, compared to analyst estimates of $315.69 million. During the same period last year, the business earned $0.50 EPS. The company’s revenue was up 4.1% on a year-over-year basis. On average, analysts predict that Brixmor Property Group will post $0.86 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Thursday, October 5th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.04 annualized dividend and a yield of 5.28%. Brixmor Property Group’s dividend payout ratio is currently 106.12%.
In related news, Director John Schreiber purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were purchased at an average cost of $18.72 per share, for a total transaction of $187,200.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $374,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James M. Taylor, Jr. purchased 15,600 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average price of $19.24 per share, for a total transaction of $300,144.00. Following the completion of the purchase, the insider now directly owns 224,793 shares in the company, valued at $4,325,017.32. The disclosure for this purchase can be found here. 0.27% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in BRX. Pacer Advisors Inc. raised its stake in Brixmor Property Group by 8.4% during the 2nd quarter. Pacer Advisors Inc. now owns 7,129 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 554 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in Brixmor Property Group during the 1st quarter worth $131,000. PNC Financial Services Group Inc. raised its stake in Brixmor Property Group by 159.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock worth $152,000 after acquiring an additional 5,203 shares in the last quarter. LS Investment Advisors LLC raised its stake in Brixmor Property Group by 17.5% during the 2nd quarter. LS Investment Advisors LLC now owns 9,557 shares of the real estate investment trust’s stock worth $171,000 after acquiring an additional 1,420 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in Brixmor Property Group by 58.3% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 9,603 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 3,538 shares in the last quarter.
Brixmor Property Group Company Profile
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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