Brixmor Property Group (NYSE:BRX) Price Target Cut to $27.00 by Analysts at The Goldman Sachs Group

Brixmor Property Group (NYSE:BRX) had its price target lowered by The Goldman Sachs Group from $28.00 to $27.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

A number of other research analysts also recently issued reports on BRX. Deutsche Bank Aktiengesellschaft began coverage on Brixmor Property Group in a report on Tuesday, January 30th. They set a buy rating and a $27.00 price objective for the company. Truist Financial reiterated a buy rating and set a $25.00 price objective on shares of Brixmor Property Group in a report on Monday. Mizuho reiterated a neutral rating and set a $24.00 price objective (up from $23.00) on shares of Brixmor Property Group in a report on Friday, February 23rd. Finally, Stifel Nicolaus increased their price objective on Brixmor Property Group from $22.75 to $24.00 and gave the stock a hold rating in a report on Tuesday, February 13th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Brixmor Property Group presently has a consensus rating of Moderate Buy and an average price target of $25.38.

Brixmor Property Group Stock Up 4.1 %

Shares of Brixmor Property Group stock opened at $23.27 on Wednesday. Brixmor Property Group has a 1 year low of $19.40 and a 1 year high of $24.47. The business has a 50-day moving average of $22.66 and a two-hundred day moving average of $22.09. The company has a market capitalization of $7.01 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 2.70 and a beta of 1.53. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.58 and a quick ratio of 0.58.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.27). Brixmor Property Group had a return on equity of 10.63% and a net margin of 24.50%. The business had revenue of $316.49 million during the quarter, compared to the consensus estimate of $311.77 million. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue was up 2.6% compared to the same quarter last year. As a group, equities analysts predict that Brixmor Property Group will post 2.08 EPS for the current year.

Brixmor Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd will be paid a $0.273 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 4.69%. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, April 1st. Brixmor Property Group’s dividend payout ratio (DPR) is currently 107.92%.

Insider Buying and Selling at Brixmor Property Group

In other Brixmor Property Group news, insider Brian T. Finnegan sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $23.00, for a total value of $172,500.00. Following the completion of the transaction, the insider now directly owns 225,051 shares in the company, valued at $5,176,173. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Brian T. Finnegan sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $23.00, for a total value of $172,500.00. Following the completion of the sale, the insider now directly owns 225,051 shares of the company’s stock, valued at $5,176,173. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael B. Berman sold 10,475 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total value of $239,039.50. Following the completion of the sale, the director now directly owns 40,556 shares of the company’s stock, valued at $925,487.92. The disclosure for this sale can be found here. Insiders sold a total of 25,475 shares of company stock worth $585,990 over the last ninety days. 0.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Brixmor Property Group

Hedge funds have recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new stake in shares of Brixmor Property Group in the first quarter valued at approximately $43,000. Quarry LP acquired a new stake in Brixmor Property Group during the 4th quarter worth approximately $40,000. Covestor Ltd lifted its holdings in Brixmor Property Group by 170.2% during the 1st quarter. Covestor Ltd now owns 1,840 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 1,159 shares during the last quarter. Belpointe Asset Management LLC lifted its holdings in Brixmor Property Group by 42.9% during the 1st quarter. Belpointe Asset Management LLC now owns 1,931 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 580 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in Brixmor Property Group during the 4th quarter worth approximately $45,000. 98.43% of the stock is owned by institutional investors and hedge funds.

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.