Brixmor Property Group (NYSE:BRX) Sets New 52-Week High After Analyst Upgrade

Brixmor Property Group Inc. (NYSE:BRX) hit a new 52-week high during mid-day 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 traded. The stock had previously closed at $29.83.

BRX has been the subject of several other research reports. KeyCorp lifted their price target on shares of Brixmor Property Group from $28.00 to $32.00 and gave the company an “overweight” rating in a research note on Tuesday, November 12th. Stifel Nicolaus lifted their price objective on shares of Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a report on Tuesday, October 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $33.00 price target (up from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. Mizuho lifted their price objective on shares of Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, Compass Point lifted 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 note on Tuesday, September 10th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.38.

Insider Activity at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total value of $738,500.00. Following the completion of the transaction, the insider now owns 315,004 shares in the company, valued at approximately $9,305,218.16. This represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BRX. Lazard Asset Management LLC raised its position in shares of Brixmor Property Group by 1.7% in the first quarter. Lazard Asset Management LLC now owns 245,697 shares of the real estate investment trust’s stock worth $5,761,000 after acquiring an additional 3,990 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Brixmor Property Group by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 271,466 shares of the real estate investment trust’s stock valued at $6,366,000 after acquiring an additional 14,748 shares in the last quarter. Caxton Associates LP purchased a new stake in shares of Brixmor Property Group in the 1st quarter valued at approximately $322,000. Burney Co. grew its stake in shares of Brixmor Property Group by 8.0% in the 1st quarter. Burney Co. now owns 70,131 shares of the real estate investment trust’s stock valued at $1,645,000 after buying an additional 5,222 shares during the period. Finally, Boston Partners grew its stake in shares of Brixmor Property Group by 1,140.5% in the 1st quarter. Boston Partners now owns 545,367 shares of the real estate investment trust’s stock valued at $12,774,000 after buying an additional 501,403 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Brixmor Property Group Stock Performance

The firm’s 50 day moving average price is $28.01 and its two-hundred day moving average price is $25.50. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a market cap of $9.05 billion, a PE ratio of 27.81, a PEG ratio of 4.07 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last released its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). The business had revenue of $320.68 million for 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%. Brixmor Property Group’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 earnings per share. On average, research analysts forecast that Brixmor Property Group Inc. will post 2.14 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be given a $0.287 dividend. 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. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.83%. Brixmor Property Group’s dividend payout ratio is currently 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.