Wells Fargo & Company Cuts Brixmor Property Group (NYSE:BRX) Price Target to $27.00

Brixmor Property Group (NYSE:BRXFree Report) had its target price cut by Wells Fargo & Company from $29.00 to $27.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

BRX has been the topic of a number of other reports. Truist Financial upped their price objective on Brixmor Property Group from $28.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Scotiabank upped their price target on Brixmor Property Group from $29.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Monday, November 25th. Evercore ISI cut their price objective on Brixmor Property Group from $32.00 to $31.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. 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. Finally, 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 report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.38.

View Our Latest Analysis on Brixmor Property Group

Brixmor Property Group Price Performance

Shares of BRX stock opened at $26.13 on Wednesday. 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 has a market capitalization of $7.89 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 3.59 and a beta of 1.59. The firm’s 50-day moving average is $27.77 and its two-hundred day moving average is $27.31. Brixmor Property Group has a 12 month low of $20.80 and a 12 month high of $30.67.

Insiders Place Their Bets

In other 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 sale, the insider now owns 315,004 shares of the company’s stock, valued at approximately $9,305,218.16. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can boosted its stake in shares of Brixmor Property Group by 8.4% in the 2nd quarter. Bank of Montreal Can now owns 97,954 shares of the real estate investment trust’s stock valued at $2,265,000 after buying an additional 7,610 shares during the period. Marshall Wace LLP lifted its stake in Brixmor Property Group by 9.3% in the second quarter. Marshall Wace LLP now owns 15,082 shares of the real estate investment trust’s stock worth $348,000 after acquiring an additional 1,285 shares during the last quarter. AQR Capital Management LLC grew its holdings in Brixmor Property Group by 33.3% during the 2nd quarter. AQR Capital Management LLC now owns 730,619 shares of the real estate investment trust’s stock worth $16,658,000 after acquiring an additional 182,566 shares in the last quarter. Creative Planning increased its position in shares of Brixmor Property Group by 2.8% in the 2nd quarter. Creative Planning now owns 14,615 shares of the real estate investment trust’s stock valued at $337,000 after purchasing an additional 396 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in shares of Brixmor Property Group by 0.8% in the 2nd quarter. Truist Financial Corp now owns 84,381 shares of the real estate investment trust’s stock valued at $1,948,000 after purchasing an additional 659 shares in the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Brixmor Property Group Company Profile

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Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.

Further Reading

Analyst Recommendations for Brixmor Property Group (NYSE:BRX)

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