Brixmor Property Group (NYSE:BRX) Shares Gap Up After Strong Earnings

Shares of Brixmor Property Group Inc. (NYSE:BRX) gapped up prior to trading on Tuesday following a stronger than expected earnings report. The stock had previously closed at $26.18, but opened at $26.94. Brixmor Property Group shares last traded at $26.83, with a volume of 228,702 shares traded.

The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.31. Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%.

Analyst Upgrades and Downgrades

BRX has been the subject of a number of recent research reports. Evercore ISI upgraded shares of Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 price target for the company in a report on Tuesday. BMO Capital Markets raised shares of Brixmor Property Group from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $30.00 to $33.00 in a research note on Friday, December 6th. Truist Financial increased their price target on Brixmor Property Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Mizuho lifted their price objective on Brixmor Property Group from $28.00 to $31.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Stifel Nicolaus increased their target price on Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $30.38.

Insider Buying and Selling at Brixmor Property Group

In related news, insider Steven F. Siegel sold 25,000 shares of Brixmor Property Group 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 sale, the insider now directly owns 315,004 shares in the company, valued at $9,305,218.16. This trade represents a 7.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Brixmor Property Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in Brixmor Property Group in the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its stake in shares of Brixmor Property Group by 124.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 938 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 521 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Brixmor Property Group by 328.6% in the 3rd quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 723 shares during the last quarter. Quarry LP lifted its holdings in shares of Brixmor Property Group by 36.3% during the third quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 364 shares during the last quarter. Finally, Maryland Capital Advisors Inc. purchased a new stake in shares of Brixmor Property Group during the third quarter valued at $46,000. Institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Price Performance

The stock has a 50-day moving average of $27.28 and a two-hundred day moving average of $27.42. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 2.54 and a beta of 1.58. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85.

Brixmor Property Group Company Profile

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.