Other analysts have also issued research reports about the stock. ValuEngine upgraded shares of Brixmor Property Group from a hold rating to a buy rating in a research note on Monday, October 2nd. Boenning Scattergood set a $22.00 price target on shares of Brixmor Property Group and gave the company a buy rating in a report on Wednesday, November 1st. Mizuho reissued a buy rating and set a $19.50 price target on shares of Brixmor Property Group in a report on Friday, November 10th. BMO Capital Markets set a $19.00 price target on shares of Brixmor Property Group and gave the company a hold rating in a report on Tuesday, December 5th. Finally, Stifel Nicolaus began coverage on shares of Brixmor Property Group in a report on Thursday, November 30th. They set a hold rating and a $19.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Brixmor Property Group has a consensus rating of Hold and an average target price of $21.38.
Brixmor Property Group (NYSE BRX) traded down $0.30 during mid-day trading on Wednesday, reaching $18.02. 3,193,000 shares of the company’s stock traded hands, compared to its average volume of 3,055,200. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. Brixmor Property Group has a 12-month low of $17.23 and a 12-month high of $25.34. The company has a market capitalization of $5,440.00, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 2.04 and a beta of 0.52.
Brixmor Property Group declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 5th that permits the company to buyback $400.00 million in shares. This buyback authorization permits the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Thursday, January 4th will be issued a dividend of $0.275 per share. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, January 3rd. This represents a $1.10 annualized dividend and a dividend yield of 6.10%. Brixmor Property Group’s payout ratio is 98.11%.
In other news, EVP Mark Horgan purchased 3,000 shares of Brixmor Property Group stock in a transaction dated Friday, November 3rd. The stock was bought at an average price of $17.64 per share, with a total value of $52,920.00. Following the completion of the acquisition, the executive vice president now owns 56,703 shares in the company, valued at approximately $1,000,240.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.27% of the company’s stock.
A number of hedge funds have recently bought and sold shares of BRX. Schwab Charles Investment Management Inc. lifted its holdings in Brixmor Property Group by 3.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,183,228 shares of the real estate investment trust’s stock worth $39,037,000 after purchasing an additional 79,331 shares during the period. Comerica Bank lifted its holdings in Brixmor Property Group by 13.1% in the second quarter. Comerica Bank now owns 26,678 shares of the real estate investment trust’s stock worth $505,000 after purchasing an additional 3,085 shares during the period. Federated Investors Inc. PA lifted its holdings in Brixmor Property Group by 9.1% in the second quarter. Federated Investors Inc. PA now owns 20,021 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 1,670 shares during the period. Pacer Advisors Inc. lifted its holdings in Brixmor Property Group by 8.4% in the second quarter. Pacer Advisors Inc. now owns 7,129 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 554 shares during the period. Finally, Swiss National Bank lifted its holdings in Brixmor Property Group by 2.9% in the second quarter. Swiss National Bank now owns 1,109,050 shares of the real estate investment trust’s stock worth $19,830,000 after purchasing an additional 30,800 shares during the period. 98.30% of the stock is owned by institutional investors and hedge funds.
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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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