Brixmor Property Group (NYSE:BRX) Reaches New 52-Week High at $27.80

Shares of Brixmor Property Group Inc. (NYSE:BRX) reached a new 52-week high on Friday . The stock traded as high as $27.80 and last traded at $27.77, with a volume of 40717 shares. The stock had previously closed at $27.47.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BRX. Truist Financial increased their price target on Brixmor Property Group from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Evercore ISI raised their target price on Brixmor Property Group from $26.00 to $27.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 28th. Wells Fargo & Company raised their target price on Brixmor Property Group from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. JPMorgan Chase & Co. raised their target price on Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group raised their target price on Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.29.

Brixmor Property Group Trading Up 2.0 %

The firm has a fifty day simple moving average of $25.66 and a two-hundred day simple moving average of $23.46. The stock has a market cap of $8.44 billion, a PE ratio of 30.13, a PEG ratio of 4.78 and a beta of 1.57. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.88.

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 for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The firm had revenue of $315.69 million for the quarter, compared to analysts’ expectations of $317.75 million. Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, equities analysts expect that Brixmor Property Group Inc. will post 2.13 earnings per share for the current fiscal year.

Brixmor Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.2725 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.89%. Brixmor Property Group’s dividend payout ratio is 117.21%.

Insider Activity at Brixmor Property Group

In related news, Director Sheryl Maxwell Crosland sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total transaction of $127,250.00. Following the transaction, the director now directly owns 46,291 shares of the company’s stock, valued at approximately $1,178,105.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Brixmor Property Group news, insider Steven F. Siegel sold 10,000 shares of Brixmor Property Group stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the transaction, the insider now directly owns 360,004 shares of the company’s stock, valued at approximately $8,640,096. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sheryl Maxwell Crosland sold 5,000 shares of Brixmor Property Group stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total value of $127,250.00. Following the completion of the transaction, the director now directly owns 46,291 shares in the company, valued at $1,178,105.95. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Brixmor Property Group

A number of large investors have recently made changes to their positions in BRX. BNP Paribas Financial Markets grew its position in shares of Brixmor Property Group by 374.7% in the 4th quarter. BNP Paribas Financial Markets now owns 309,602 shares of the real estate investment trust’s stock worth $7,204,000 after buying an additional 244,387 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of Brixmor Property Group by 10.0% in the 4th quarter. QRG Capital Management Inc. now owns 12,049 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 1,096 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Brixmor Property Group by 0.9% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 182,527 shares of the real estate investment trust’s stock worth $4,138,000 after buying an additional 1,613 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Brixmor Property Group by 39.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 30,973 shares of the real estate investment trust’s stock worth $721,000 after buying an additional 8,778 shares during the last quarter. Finally, Great Lakes Advisors LLC boosted its position in shares of Brixmor Property Group by 10.3% during the fourth quarter. Great Lakes Advisors LLC now owns 155,630 shares of the real estate investment trust’s stock valued at $3,622,000 after purchasing an additional 14,481 shares in the last quarter. 98.43% of the stock is currently 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.