Brixmor Property Group (NYSE:BRX) Raised to “Outperform” at BMO Capital Markets

Brixmor Property Group (NYSE:BRX) was upgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm currently has a $33.00 price objective on the real estate investment trust’s stock, up from their previous price objective of $30.00. BMO Capital Markets’ target price indicates a potential upside of 10.96% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Truist Financial raised their price target on Brixmor Property Group from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. KeyCorp raised their price target on Brixmor Property Group from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Scotiabank raised their price target on Brixmor Property Group from $29.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Monday, November 25th. Compass Point raised their price target on Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company lifted their price objective on Brixmor Property Group from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Brixmor Property Group currently has an average rating of “Moderate Buy” and a consensus price target of $29.65.

Brixmor Property Group Trading Up 0.8 %

Shares of BRX stock opened at $29.74 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38. Brixmor Property Group has a 52-week low of $20.80 and a 52-week high of $30.67. The company has a market capitalization of $8.98 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 4.08 and a beta of 1.58. The business’s fifty day moving average is $28.44 and its 200 day moving average is $26.02.

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

Insider Buying and Selling

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of Brixmor Property Group stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.54, for a total transaction of $738,500.00. Following the sale, the insider now directly owns 315,004 shares of the company’s stock, valued at approximately $9,305,218.16. The trade was a 7.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.76% of the stock is owned by insiders.

Institutional Trading of Brixmor Property Group

Several large investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board boosted its position in Brixmor Property Group by 37.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 7,324,870 shares of the real estate investment trust’s stock valued at $169,131,000 after acquiring an additional 1,995,299 shares in the last quarter. Millennium Management LLC boosted its position in Brixmor Property Group by 35.5% during the 2nd quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust’s stock valued at $132,443,000 after acquiring an additional 1,501,282 shares in the last quarter. Geode Capital Management LLC boosted its position in Brixmor Property Group by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,615,014 shares of the real estate investment trust’s stock valued at $156,473,000 after acquiring an additional 44,485 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Brixmor Property Group by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,959,993 shares of the real estate investment trust’s stock valued at $138,185,000 after acquiring an additional 159,388 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Brixmor Property Group by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,804,746 shares of the real estate investment trust’s stock valued at $110,940,000 after acquiring an additional 396,242 shares in the last quarter. 98.43% of the stock is owned by institutional investors.

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.