Brixmor Property Group (NYSE:BRX) Price Target Raised to $30.00

Brixmor Property Group (NYSE:BRX) had its target price boosted by Compass Point from $28.00 to $30.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other brokerages have also weighed in on BRX. Piper Sandler restated an overweight rating and set a $33.00 price objective (up previously from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Scotiabank upped their price objective on Brixmor Property Group from $25.00 to $29.00 and gave the company a sector outperform rating in a research note on Monday, August 26th. Wells Fargo & Company raised their price objective on shares of Brixmor Property Group from $24.00 to $28.00 and gave the company an equal weight rating in a report on Wednesday, August 28th. KeyCorp boosted their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an overweight rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group raised their price target on shares of Brixmor Property Group from $26.00 to $29.00 and gave the company a buy rating in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Brixmor Property Group presently has a consensus rating of Moderate Buy and a consensus price target of $28.29.

Brixmor Property Group Trading Up 0.7 %

BRX opened at $27.47 on Tuesday. The company has a market cap of $8.28 billion, a P/E ratio of 29.54, a PEG ratio of 4.76 and a beta of 1.57. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.88. The company’s 50 day moving average is $25.55 and its 200-day moving average is $23.43. Brixmor Property Group has a 1-year low of $19.46 and a 1-year high of $27.70.

Brixmor Property Group (NYSE:BRX) last issued 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). The company had revenue of $315.69 million during the quarter, compared to analyst estimates of $317.75 million. Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 EPS. Equities research analysts predict 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. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date is Wednesday, October 2nd. Brixmor Property Group’s dividend payout ratio is presently 117.20%.

Insider Activity at Brixmor Property Group

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings 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 worth $33,000 after acquiring an additional 1,007 shares during the period. Quarry LP purchased a new position in shares of Brixmor Property Group in the fourth quarter worth about $40,000. Larson Financial Group LLC bought a new stake in shares of Brixmor Property Group in the first quarter valued at approximately $47,000. Abich Financial Wealth Management LLC raised 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 during the period. Finally, Fifth Third Bancorp lifted its stake in shares of Brixmor Property Group by 19.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,684 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 431 shares in the last quarter. 98.43% of the stock is owned by 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.