Brixmor Property Group (NYSE:BRX) Earns Overweight Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Brixmor Property Group (NYSE:BRX) in a research report sent to investors on Wednesday, Benzinga reports. They currently have a $33.00 price target on the real estate investment trust’s stock, up from their previous price target of $30.00.

Several other research analysts have also recently issued reports on the company. Wells Fargo & Company cut their target price on Brixmor Property Group from $25.00 to $24.00 and set an equal weight rating on the stock in a research report on Tuesday, May 28th. Mizuho dropped their price target on Brixmor Property Group from $24.00 to $23.00 and set a neutral rating on the stock in a report on Thursday, May 23rd. JPMorgan Chase & Co. dropped their price target on Brixmor Property Group from $27.00 to $26.00 and set an overweight rating on the stock in a report on Monday, May 13th. Stifel Nicolaus lifted their price target on Brixmor Property Group from $24.00 to $25.50 and gave the stock a hold rating in a report on Tuesday. Finally, StockNews.com lowered Brixmor Property Group from a buy rating to a hold rating in a report on Monday, July 29th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Brixmor Property Group has an average rating of Moderate Buy and an average price target of $26.75.

Brixmor Property Group Stock Down 0.7 %

Shares of NYSE:BRX opened at $25.37 on Wednesday. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 4.41 and a beta of 1.57. 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 has a 12-month low of $19.46 and a 12-month high of $26.41. The business’s 50 day moving average is $23.10 and its 200 day moving average is $22.64.

Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.29). The company had revenue of $315.69 million for the quarter, compared to analysts’ expectations of $317.75 million. Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. On average, sell-side analysts forecast that Brixmor Property Group will post 2.13 earnings per share for the current fiscal year.

Brixmor Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be paid a $0.2725 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.09 annualized dividend and a dividend yield of 4.30%. Brixmor Property Group’s payout ratio is presently 117.20%.

Insider Buying and Selling at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the sale, the insider now directly owns 360,004 shares in the company, valued at $8,640,096. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Brixmor Property Group

Several hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp grew its position in shares of Brixmor Property Group by 19.1% in the second quarter. Fifth Third Bancorp now owns 2,684 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 431 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Brixmor Property Group by 5.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,640 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 481 shares in the last quarter. Abich Financial Wealth Management LLC grew its position in shares of Brixmor Property Group by 50.7% in the first quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 775 shares in the last quarter. M&T Bank Corp grew its position in shares of Brixmor Property Group by 0.5% in the fourth quarter. M&T Bank Corp now owns 162,941 shares of the real estate investment trust’s stock valued at $3,792,000 after purchasing an additional 810 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Brixmor Property Group by 45.5% in the second quarter. GAMMA Investing LLC now owns 2,888 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 903 shares in the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

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.