Brixmor Property Group (NYSE:BRX) Price Target Raised to $31.00

Brixmor Property Group (NYSE:BRX) had its price target boosted by Truist Financial from $28.00 to $31.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently weighed in on BRX. Piper Sandler reissued an “overweight” rating and issued a $33.00 price target (up from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. The Goldman Sachs Group lifted their price target on shares of Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Scotiabank upped their price objective on shares of Brixmor Property Group from $25.00 to $29.00 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Finally, Stifel Nicolaus raised their target price on shares of Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $29.13.

Brixmor Property Group Trading Up 0.5 %

Shares of BRX stock opened at $28.83 on Friday. The stock has a market cap of $8.71 billion, a P/E ratio of 26.69, a P/E/G ratio of 3.93 and a beta of 1.57. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.85. Brixmor Property Group has a fifty-two week low of $20.80 and a fifty-two week high of $29.19. The business has a fifty day simple moving average of $27.80 and a 200-day simple moving average of $25.24.

Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.21). The business had revenue of $320.68 million for the quarter, compared to analysts’ expectations of $320.22 million. Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%. The business’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share. On average, analysts forecast that Brixmor Property Group will post 2.14 earnings per share for the current fiscal year.

Brixmor Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be given a $0.287 dividend. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend is Friday, January 3rd. Brixmor Property Group’s dividend payout ratio is presently 106.48%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Quarry LP grew its stake in Brixmor Property Group by 36.3% during the 3rd quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 364 shares in the last quarter. Creative Planning increased its stake in shares of Brixmor Property Group by 2.8% in the second quarter. Creative Planning now owns 14,615 shares of the real estate investment trust’s stock worth $337,000 after buying an additional 396 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Brixmor Property Group by 19.1% in the second quarter. Fifth Third Bancorp now owns 2,684 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 431 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Brixmor Property Group by 5.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,640 shares of the real estate investment trust’s stock valued at $223,000 after acquiring an additional 481 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Brixmor Property Group by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 178,123 shares of the real estate investment trust’s stock valued at $4,961,000 after acquiring an additional 643 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

About Brixmor Property Group

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 362 retail centers comprise approximately 64 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.