Brixmor Property Group (NYSE:BRX) Sets New 12-Month High Following Analyst Upgrade

Brixmor Property Group Inc. (NYSE:BRX)’s share price hit a new 52-week high during trading on Tuesday after KeyCorp raised their price target on the stock from $28.00 to $32.00. KeyCorp currently has an overweight rating on the stock. Brixmor Property Group traded as high as $29.18 and last traded at $29.08, with a volume of 51013 shares trading hands. The stock had previously closed at $28.97.

Other equities research analysts have also issued reports about the company. The Goldman Sachs Group boosted their price objective on Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $33.00 target price (up from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. StockNews.com cut Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Mizuho boosted their target price on Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Five equities research 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.88.

Insider Buying and Selling

In other news, Director Sheryl Maxwell Crosland sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total value of $127,250.00. Following the completion of the sale, the director now directly owns 46,291 shares of the company’s stock, valued at approximately $1,178,105.95. This represents a 0.00 % decrease in their position. 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 hedge funds and other institutional investors have recently bought and sold shares of BRX. PGGM Investments lifted its holdings in Brixmor Property Group by 167.2% during the 2nd quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock valued at $86,847,000 after purchasing an additional 2,353,582 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Brixmor Property Group in the first quarter worth $16,964,000. Canada Pension Plan Investment Board bought a new stake in shares of Brixmor Property Group in the first quarter worth $124,978,000. SG Americas Securities LLC lifted its position in shares of Brixmor Property Group by 115.8% in the first quarter. SG Americas Securities LLC now owns 136,678 shares of the real estate investment trust’s stock worth $3,205,000 after purchasing an additional 73,335 shares in the last quarter. Finally, Boston Partners raised its position in Brixmor Property Group by 1,140.5% during the first quarter. Boston Partners now owns 545,367 shares of the real estate investment trust’s stock worth $12,774,000 after acquiring an additional 501,403 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Brixmor Property Group Price Performance

The company has a debt-to-equity ratio of 1.85, a current ratio of 1.38 and a quick ratio of 1.38. The company’s 50-day simple moving average is $27.68 and its 200-day simple moving average is $25.05. The stock has a market capitalization of $8.78 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 3.92 and a beta of 1.57.

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 business 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 quarter last year, the company posted $0.50 earnings per share. As a group, sell-side analysts expect that Brixmor Property Group Inc. will post 2.14 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 annualized dividend and a yield of 3.95%. Brixmor Property Group’s dividend payout ratio (DPR) 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.