Brixmor Property Group (NYSE:BRX) Price Target Lowered to $31.00 at Evercore ISI

Brixmor Property Group (NYSE:BRX) had its price target trimmed by Evercore ISI from $32.00 to $31.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

A number of other analysts also recently issued reports on BRX. Truist Financial raised their price target on Brixmor Property Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. KeyCorp lifted their price target on shares of Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Mizuho increased their price objective on shares of Brixmor Property Group from $28.00 to $31.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. BMO Capital Markets upgraded Brixmor Property Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $30.00 to $33.00 in a research report on Friday, December 6th. Finally, Wells Fargo & Company upped their target price on Brixmor Property Group from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.19.

Brixmor Property Group Stock Performance

Shares of NYSE:BRX opened at $27.72 on Tuesday. The firm has a fifty day simple moving average of $28.69 and a two-hundred day simple moving average of $26.58. Brixmor Property Group has a 52 week low of $20.80 and a 52 week high of $30.67. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $8.37 billion, a P/E ratio of 25.67, a PEG ratio of 3.96 and a beta of 1.58.

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

Brixmor Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.287 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.15 annualized dividend and a dividend yield of 4.14%. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s dividend payout ratio (DPR) is currently 106.48%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Lord Abbett & CO. LLC purchased a new position in Brixmor Property Group in the third quarter valued at about $25,492,000. Tidal Investments LLC purchased a new stake in shares of Brixmor Property Group during the third quarter valued at about $472,000. World Investment Advisors LLC bought a new stake in shares of Brixmor Property Group in the 3rd quarter valued at about $385,000. Sanctuary Advisors LLC purchased a new position in shares of Brixmor Property Group in the 3rd quarter worth approximately $577,000. Finally, Geode Capital Management LLC raised its stake in shares of 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 worth $156,473,000 after acquiring an additional 44,485 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.