Scotiabank Forecasts Strong Price Appreciation for Brixmor Property Group (NYSE:BRX) Stock

Brixmor Property Group (NYSE:BRX) had its price target raised by equities research analysts at Scotiabank from $29.00 to $32.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s target price would indicate a potential upside of 5.68% from the company’s current price.

BRX has been the topic of a number of other reports. JPMorgan Chase & Co. increased their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. KeyCorp increased their target price on shares of Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Mizuho increased their price objective on shares of Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Stifel Nicolaus increased their price objective on shares of Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a report on Tuesday, October 29th. Finally, Compass Point increased their price objective on shares of Brixmor Property Group from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Brixmor Property Group presently has an average rating of “Moderate Buy” and a consensus price target of $29.38.

Brixmor Property Group Price Performance

Shares of BRX stock opened at $30.28 on Monday. The company has a market capitalization of $9.15 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 4.07 and a beta of 1.57. The firm has a fifty day simple moving average of $28.05 and a 200-day simple moving average of $25.56. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85. Brixmor Property Group has a twelve month low of $20.80 and a twelve month high of $30.31.

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

Insider Transactions at Brixmor Property Group

In related news, insider Steven F. Siegel sold 25,000 shares of the firm’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 transaction, the insider now owns 315,004 shares of the company’s stock, valued at approximately $9,305,218.16. This trade represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Brixmor Property Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. 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 valued at $26,000 after purchasing an additional 723 shares during the last quarter. Quarry LP grew its holdings in Brixmor Property Group by 36.3% during the third 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 last quarter. Blue Trust Inc. grew its holdings in Brixmor Property Group by 258.9% during the second 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 during the last quarter. Maryland Capital Advisors Inc. acquired a new position in Brixmor Property Group during the third quarter valued at approximately $46,000. Finally, Abich Financial Wealth Management LLC grew its holdings 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 purchasing an additional 775 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

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.