Scotiabank Raises Brixmor Property Group (NYSE:BRX) Price Target to $29.00

Brixmor Property Group (NYSE:BRX) had its price objective lifted by Scotiabank from $25.00 to $29.00 in a report issued on Monday morning, Benzinga reports. The firm currently has a sector outperform rating on the real estate investment trust’s stock.

BRX has been the topic of a number of other reports. Piper Sandler reissued 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. Truist Financial boosted their price target 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. Mizuho raised their price objective on Brixmor Property Group from $23.00 to $27.00 and gave the company a neutral rating in a research report on Monday, August 19th. The Goldman Sachs Group boosted their target price on Brixmor Property Group from $26.00 to $29.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Finally, KeyCorp raised their price target on Brixmor Property Group from $26.00 to $28.00 and gave the company an overweight rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $28.13.

Brixmor Property Group Stock Down 1.4 %

BRX stock opened at $27.11 on Monday. The business’s 50-day moving average price is $24.62 and its 200-day moving average price is $23.12. The stock has a market cap of $8.17 billion, a P/E ratio of 29.15, a PEG ratio of 4.43 and a beta of 1.57. Brixmor Property Group has a twelve month low of $19.46 and a twelve month high of $27.64. The company has a quick ratio of 1.45, a current ratio of 1.50 and a debt-to-equity ratio of 1.88.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The firm had revenue of $315.69 million during the quarter, compared to the consensus estimate of $317.75 million. Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, equities research analysts forecast that Brixmor Property Group will post 2.12 EPS for the current year.

Brixmor Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Wednesday, October 2nd. Brixmor Property Group’s dividend payout ratio is currently 117.20%.

Insider Activity at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel sold 10,000 shares of Brixmor Property Group stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the transaction, the insider now directly owns 360,004 shares of the company’s stock, valued at $8,640,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Brixmor Property Group news, insider Steven F. Siegel sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the sale, the insider now owns 360,004 shares of the company’s stock, valued at $8,640,096. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sheryl Maxwell Crosland sold 5,000 shares of the business’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 transaction, the director now owns 46,291 shares of the company’s stock, valued at approximately $1,178,105.95. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Brixmor Property Group

Several hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its position in shares of Brixmor Property Group by 258.9% during the second quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,007 shares during the last quarter. Quarry LP bought a new stake in Brixmor Property Group during the 4th quarter valued at about $40,000. GAMMA Investing LLC bought a new stake in Brixmor Property Group during the 4th quarter valued at about $45,000. Larson Financial Group LLC purchased a new stake in Brixmor Property Group in the 1st quarter valued at about $47,000. Finally, Abich Financial Wealth Management LLC grew its stake in Brixmor Property Group by 50.7% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 775 shares in 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.