Brixmor Property Group Inc (NYSE:BRX) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 7,967,400 shares, a decrease of 20.9% from the July 31st total of 10,071,700 shares. Currently, 2.7% of the shares of the stock are sold short. Based on an average daily volume of 2,700,000 shares, the short-interest ratio is currently 3.0 days.
Shares of BRX stock traded down $0.11 during mid-day trading on Friday, reaching $19.57. The company’s stock had a trading volume of 2,959,700 shares, compared to its average volume of 3,220,103. Brixmor Property Group has a 1-year low of $14.11 and a 1-year high of $19.89. The company has a market cap of $5.92 billion, a P/E ratio of 10.52, a PEG ratio of 2.23 and a beta of 0.74. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.47 and a current ratio of 0.47. The firm’s 50-day moving average is $18.67 and its two-hundred day moving average is $18.11.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.24). Brixmor Property Group had a net margin of 30.07% and a return on equity of 12.66%. The business had revenue of $291.00 million during the quarter, compared to analyst estimates of $286.99 million. During the same quarter in the prior year, the company posted $0.51 EPS. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. Sell-side analysts anticipate that Brixmor Property Group will post 1.91 EPS for the current year.
In other news, Director James M. Taylor, Jr. purchased 7,500 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $18.50 per share, for a total transaction of $138,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in BRX. BlackRock Inc. increased its position in shares of Brixmor Property Group by 61.1% during the 1st quarter. BlackRock Inc. now owns 36,138,525 shares of the real estate investment trust’s stock worth $663,868,000 after purchasing an additional 13,704,777 shares in the last quarter. Lazard Asset Management LLC increased its position in Brixmor Property Group by 236.8% in the 1st quarter. Lazard Asset Management LLC now owns 3,091,300 shares of the real estate investment trust’s stock valued at $56,786,000 after acquiring an additional 2,173,350 shares in the last quarter. Principal Financial Group Inc. increased its position in Brixmor Property Group by 4,946.0% in the 1st quarter. Principal Financial Group Inc. now owns 1,320,891 shares of the real estate investment trust’s stock valued at $24,265,000 after acquiring an additional 1,294,714 shares in the last quarter. Vanguard Group Inc. increased its position in Brixmor Property Group by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 46,077,508 shares of the real estate investment trust’s stock valued at $823,865,000 after acquiring an additional 934,580 shares in the last quarter. Finally, Centersquare Investment Management LLC increased its position in Brixmor Property Group by 19.1% in the 1st quarter. Centersquare Investment Management LLC now owns 5,543,313 shares of the real estate investment trust’s stock valued at $101,830,000 after acquiring an additional 890,450 shares in the last quarter. Institutional investors and hedge funds own 99.22% of the company’s stock.
Several research firms have weighed in on BRX. Zacks Investment Research upgraded shares of Brixmor Property Group from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Monday. Compass Point began coverage on shares of Brixmor Property Group in a research note on Thursday, August 15th. They set a “neutral” rating and a $19.00 price target on the stock. Scotiabank lowered shares of Brixmor Property Group from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $20.00 to $19.00 in a research note on Friday, August 16th. BMO Capital Markets restated a “hold” rating and set a $17.00 price target on shares of Brixmor Property Group in a research note on Wednesday, July 31st. Finally, ValuEngine lowered shares of Brixmor Property Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $19.30.
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 425 retail centers comprise approximately 74 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.
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