Brixmor Property Group (NYSE:BRX) Reaches New 1-Year High After Analyst Upgrade

Brixmor Property Group Inc. (NYSE:BRX)’s share price reached a new 52-week high during mid-day trading on Monday after Truist Financial raised their price target on the stock from $28.00 to $31.00. Truist Financial currently has a buy rating on the stock. Brixmor Property Group traded as high as $29.24 and last traded at $29.20, with a volume of 536040 shares trading hands. The stock had previously closed at $28.83.

A number of other equities research analysts also recently weighed in on the stock. Stifel Nicolaus raised their target price on shares of Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a research note on Tuesday, October 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $33.00 price target (up previously from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Mizuho boosted their price target on Brixmor Property Group from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. The Goldman Sachs Group boosted their price target on Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com downgraded Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.13.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. increased its position in shares of Brixmor Property Group by 328.6% during the third quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 723 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Brixmor Property Group by 258.9% in the 2nd quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,007 shares during the last quarter. Quarry LP increased its holdings in shares of Brixmor Property Group by 36.3% in the 3rd quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 364 shares during the last quarter. Maryland Capital Advisors Inc. acquired a new stake in shares of Brixmor Property Group in the 3rd quarter valued at about $46,000. Finally, Abich Financial Wealth Management LLC lifted its position in Brixmor Property Group by 50.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 775 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Brixmor Property Group Stock Up 1.5 %

The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38. The business has a 50-day simple moving average of $27.83 and a two-hundred day simple moving average of $25.29. The company has a market capitalization of $8.84 billion, a price-to-earnings ratio of 27.09, a PEG ratio of 3.93 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data 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 firm had revenue of $320.68 million during 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 for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 earnings per share. As a group, equities analysts predict that Brixmor Property Group Inc. will post 2.14 EPS for the current year.

Brixmor Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be issued a $0.287 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.15 dividend on an annualized basis and a yield of 3.92%. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s dividend payout ratio (DPR) is presently 106.48%.

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 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.