Brixmor Property Group (NYSE:BRX) Sets New 52-Week High at $26.43

Shares of Brixmor Property Group Inc. (NYSE:BRX) hit a new 52-week high on Wednesday . The stock traded as high as $26.43 and last traded at $26.38, with a volume of 230333 shares traded. The stock had previously closed at $26.21.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their target price on Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Wells Fargo & Company reduced their price target 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. KeyCorp lifted their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Piper Sandler restated an “overweight” rating and set a $33.00 target price (up previously from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Finally, StockNews.com lowered shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and eight have given 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 $27.50.

Brixmor Property Group Stock Performance

The company has a current ratio of 1.50, a quick ratio of 1.45 and a debt-to-equity ratio of 1.88. The business’s 50 day moving average is $24.12 and its two-hundred day moving average is $22.95. The company has a market cap of $8.03 billion, a PE ratio of 28.65, a PEG ratio of 4.43 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The business had revenue of $315.69 million during the quarter, compared to the consensus estimate of $317.75 million. During the same quarter last year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities research analysts anticipate that Brixmor Property Group Inc. will post 2.12 EPS for the current year.

Brixmor Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.2725 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.09 annualized dividend and a dividend yield of 4.09%. Brixmor Property Group’s dividend payout ratio is currently 117.20%.

Insider Buying and Selling

In other news, Director Sheryl Maxwell Crosland sold 5,000 shares of Brixmor Property Group stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total value of $127,250.00. Following the sale, the director now owns 46,291 shares in the company, valued at $1,178,105.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Steven F. Siegel sold 10,000 shares of Brixmor Property Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the insider now owns 360,004 shares in the company, valued at $8,640,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sheryl Maxwell Crosland sold 5,000 shares of Brixmor Property Group stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total transaction of $127,250.00. Following the completion of the transaction, the director now owns 46,291 shares in the company, valued at $1,178,105.95. The disclosure for this sale can be found here. 0.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Brixmor Property Group

Several institutional investors and hedge funds have recently made changes to their positions in BRX. Blue Trust Inc. grew its position in Brixmor Property Group by 258.9% during the second quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,007 shares during the period. Quarry LP bought a new position in Brixmor Property Group during the 4th quarter worth approximately $40,000. GAMMA Investing LLC acquired a new position in Brixmor Property Group in the fourth quarter worth $45,000. Larson Financial Group LLC acquired a new position in shares of Brixmor Property Group in the 1st quarter valued at about $47,000. Finally, Abich Financial Wealth Management LLC increased its position in 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 worth $54,000 after buying an additional 775 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

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.