Brixmor Property Group (NYSE:BRX) Lifted to Hold at Evercore ISI

Evercore ISI upgraded shares of Brixmor Property Group (NYSE:BRX) to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

A number of other analysts have also commented on BRX. Piper Sandler reiterated an overweight rating and issued a $33.00 price objective (up from $30.00) on shares of Brixmor Property Group in a research report on Wednesday. Wells Fargo & Company decreased their target price on Brixmor Property Group from $25.00 to $24.00 and set an equal weight rating for the company in a research report on Tuesday, May 28th. Compass Point boosted their target price on Brixmor Property Group from $26.00 to $28.00 and gave the stock a buy rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Brixmor Property Group from $26.00 to $28.00 and gave the stock an overweight rating in a research report on Wednesday. Finally, Stifel Nicolaus boosted their target price on Brixmor Property Group from $24.00 to $25.50 and gave the stock a hold rating in a research report on Tuesday. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Brixmor Property Group has an average rating of Moderate Buy and an average price target of $26.75.

Brixmor Property Group Price Performance

Shares of BRX stock opened at $25.55 on Tuesday. The stock has a 50-day moving average price of $23.02 and a 200 day moving average price of $22.62. The company has a quick ratio of 1.45, a current ratio of 1.50 and a debt-to-equity ratio of 1.88. The firm has a market cap of $7.70 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 4.59 and a beta of 1.57. Brixmor Property Group has a 12 month low of $19.46 and a 12 month high of $26.41.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.23 EPS 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 analyst estimates of $317.75 million. Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. Brixmor Property Group’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 business earned $0.52 earnings per share. Research analysts expect that Brixmor Property Group will post 2.12 EPS for the current year.

Brixmor Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Wednesday, October 2nd. Brixmor Property Group’s dividend payout ratio (DPR) is presently 117.21%.

Insider Activity

In related news, insider Steven F. Siegel 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Brixmor Property Group by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 45,662,863 shares of the real estate investment trust’s stock worth $1,070,794,000 after purchasing an additional 165,572 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Brixmor Property Group by 16.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 14,985,745 shares of the real estate investment trust’s stock worth $348,718,000 after purchasing an additional 2,067,135 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Brixmor Property Group by 3.7% during the 4th quarter. Wellington Management Group LLP now owns 10,915,844 shares of the real estate investment trust’s stock worth $254,012,000 after purchasing an additional 394,158 shares during the last quarter. Centersquare Investment Management LLC increased its position in shares of Brixmor Property Group by 13.6% during the 4th quarter. Centersquare Investment Management LLC now owns 8,467,936 shares of the real estate investment trust’s stock worth $197,049,000 after purchasing an additional 1,016,209 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Brixmor Property Group during the 1st quarter worth approximately $124,978,000. Institutional investors and hedge funds 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.