Brixmor Property Group (NYSE:BRX) Hits New 12-Month High on Analyst Upgrade

Shares of Brixmor Property Group Inc. (NYSE:BRX) reached a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from $29.00 to $32.00. Scotiabank currently has a sector outperform rating on the stock. Brixmor Property Group traded as high as $30.00 and last traded at $30.00, with a volume of 124 shares. The stock had previously closed at $29.83.

BRX has been the topic of a number of other reports. Wells Fargo & Company raised their target price on shares of Brixmor Property Group from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Piper Sandler restated an “overweight” rating and set a $33.00 price objective (up from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. KeyCorp upped their target price on Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. 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 note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.38.

Insider Activity

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total transaction of $738,500.00. Following the sale, the insider now 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 document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Brixmor Property Group

Several hedge funds have recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in 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 acquiring an additional 723 shares during the period. Blue Trust Inc. increased its holdings in shares of Brixmor Property Group by 258.9% during the 2nd quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,007 shares in the last quarter. Quarry LP lifted its stake 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 purchasing an additional 364 shares during the period. Maryland Capital Advisors Inc. purchased a new stake in Brixmor Property Group during the third quarter worth $46,000. Finally, Abich Financial Wealth Management LLC grew its position in Brixmor Property Group by 50.7% during the first quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 775 shares during the period. 98.43% of the stock is owned by institutional investors and hedge funds.

Brixmor Property Group Stock Up 0.6 %

The business’s fifty day simple moving average is $28.01 and its two-hundred day simple moving average is $25.50. The company has a market cap of $9.07 billion, a PE ratio of 27.80, a PEG ratio of 4.07 and a beta of 1.57. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.38 and a quick ratio of 1.38.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). The business 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 firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 earnings per share. On average, analysts predict that Brixmor Property Group Inc. will post 2.14 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be given a dividend of $0.287 per share. This represents a $1.15 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Friday, January 3rd. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s dividend payout ratio is 100.93%.

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.