Brixmor Property Group (NYSE:BRX) Price Target Raised to $32.00

Brixmor Property Group (NYSE:BRX) had its target price hoisted by KeyCorp from $28.00 to $32.00 in a report released on Tuesday,Benzinga reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

BRX has been the subject of several other reports. Scotiabank increased their price objective on Brixmor Property Group from $25.00 to $29.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Compass Point boosted their price objective on shares of Brixmor Property Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Stifel Nicolaus upped their target price on shares of Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a research report on Tuesday, October 29th. Evercore ISI raised their price target on Brixmor Property Group from $27.00 to $28.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Truist Financial lifted their price objective on shares of Brixmor Property Group from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.13.

Brixmor Property Group Stock Performance

Shares of NYSE BRX traded up $0.08 during trading hours on Tuesday, hitting $28.76. 136,452 shares of the stock were exchanged, compared to its average volume of 2,278,779. 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 has a one year low of $20.80 and a one year high of $29.19. The company’s 50 day moving average is $27.76 and its 200 day moving average is $25.15. The firm has a market capitalization of $8.69 billion, a P/E ratio of 26.56, a P/E/G ratio of 3.93 and a beta of 1.57.

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 return on equity of 11.48% and a net margin of 25.81%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. On average, research analysts expect that Brixmor Property Group will post 2.14 EPS for the current year.

Brixmor Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be given a $0.287 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Friday, January 3rd. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s payout ratio is currently 100.93%.

Institutional Trading of Brixmor Property Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Brixmor Property Group by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 45,662,863 shares of the real estate investment trust’s stock valued at $1,070,794,000 after acquiring an additional 165,572 shares during the period. Canada Pension Plan Investment Board raised its stake in Brixmor Property Group by 37.4% in the second 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 buying an additional 1,995,299 shares during the period. Millennium Management LLC boosted its stake in shares of 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 worth $132,443,000 after acquiring an additional 1,501,282 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 worth $138,185,000 after acquiring an additional 159,388 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of 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 worth $110,940,000 after acquiring an additional 396,242 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

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.