Brixmor Property Group (NYSE:BRX) Hits New 1-Year High at $21.20

Brixmor Property Group Inc (NYSE:BRX)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $21.20 and last traded at $21.19, with a volume of 34036 shares. The stock had previously closed at $21.15.

Several research analysts have issued reports on BRX shares. Barclays reaffirmed a “hold” rating and issued a $21.00 target price on shares of Brixmor Property Group in a report on Sunday, October 13th. Deutsche Bank cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $20.00 to $19.00 in a report on Thursday, September 5th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 15th. KeyCorp lifted their price target on shares of Brixmor Property Group from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Compass Point started coverage on shares of Brixmor Property Group in a research note on Thursday, August 15th. They issued a “neutral” rating and a $19.00 price target for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $20.00.

The business’s 50 day moving average price is $20.08 and its 200 day moving average price is $18.63. The stock has a market capitalization of $6.30 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 2.39 and a beta of 0.74. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.47 and a quick ratio of 0.47.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.24). Brixmor Property Group had a return on equity of 12.66% and a net margin of 30.07%. The company had revenue of $291.00 million during the quarter, compared to the consensus estimate of $286.99 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. The business’s revenue was down 7.0% compared to the same quarter last year. As a group, analysts forecast that Brixmor Property Group Inc will post 1.91 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, October 4th were paid a $0.28 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.36%. Brixmor Property Group’s dividend payout ratio is presently 60.54%.

In related news, Director James M. Taylor, Jr. purchased 7,500 shares of Brixmor Property Group stock in a transaction dated Friday, August 16th. The stock was purchased at an average cost of $18.50 per share, for a total transaction of $138,750.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Brixmor Property Group by 2.1% during the second quarter. Vanguard Group Inc. now owns 46,077,508 shares of the real estate investment trust’s stock valued at $823,865,000 after buying an additional 934,580 shares during the period. Bank of New York Mellon Corp grew its position in Brixmor Property Group by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 10,802,990 shares of the real estate investment trust’s stock valued at $193,158,000 after buying an additional 116,348 shares during the period. Northern Trust Corp grew its position in Brixmor Property Group by 1.5% during the second quarter. Northern Trust Corp now owns 4,487,064 shares of the real estate investment trust’s stock valued at $80,228,000 after buying an additional 67,306 shares during the period. Charles Schwab Investment Management Inc. grew its position in Brixmor Property Group by 3.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,937,294 shares of the real estate investment trust’s stock valued at $70,399,000 after buying an additional 114,324 shares during the period. Finally, LSV Asset Management grew its position in Brixmor Property Group by 8.6% during the second quarter. LSV Asset Management now owns 3,202,569 shares of the real estate investment trust’s stock valued at $57,261,000 after buying an additional 254,300 shares during the period. Institutional investors own 99.19% of the company’s stock.

About Brixmor Property Group (NYSE:BRX)

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 425 retail centers comprise approximately 74 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.

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