Brixmor Property Group (NYSE:BRX) Reaches New 52-Week High After Analyst Upgrade

Brixmor Property Group Inc. (NYSE:BRX)’s share price reached a new 52-week high during mid-day trading on Tuesday after KeyCorp raised their price target on the stock from $28.00 to $32.00. KeyCorp currently has an overweight rating on the stock. Brixmor Property Group traded as high as $29.18 and last traded at $29.08, with a volume of 51013 shares trading hands. The stock had previously closed at $28.97.

Several other equities analysts also recently weighed in on BRX. The Goldman Sachs Group boosted their target price on Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus boosted their target price on Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a research report on Tuesday, October 29th. Compass Point boosted their target price on Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. boosted 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. Finally, Mizuho upped their price objective on Brixmor Property Group from $23.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Brixmor Property Group presently has an average rating of “Moderate Buy” and a consensus price target of $28.88.

Hedge Funds Weigh In On Brixmor Property Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board acquired a new stake in Brixmor Property Group during the 1st quarter valued at $124,978,000. PGGM Investments lifted its stake in shares of Brixmor Property Group by 167.2% during the 2nd quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock worth $86,847,000 after purchasing an additional 2,353,582 shares during the period. Zurich Insurance Group Ltd FI purchased a new position in shares of Brixmor Property Group during the 2nd quarter worth $49,546,000. Millennium Management LLC lifted its stake in shares of Brixmor Property Group by 35.5% during the 2nd quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust’s stock worth $132,443,000 after purchasing an additional 1,501,282 shares during the period. Finally, 1832 Asset Management L.P. purchased a new position in shares of Brixmor Property Group during the 1st quarter worth $16,964,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Brixmor Property Group Trading Up 0.3 %

The company has a market cap of $8.71 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 3.92 and a beta of 1.57. The business has a 50 day simple moving average of $27.73 and a two-hundred day simple moving average of $25.13. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85.

Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.21). Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. The firm had revenue of $320.68 million during the quarter, compared to analysts’ expectations of $320.22 million. During the same period last year, the business posted $0.50 earnings per share. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts forecast that Brixmor Property Group Inc. will post 2.14 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.287 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Friday, January 3rd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s payout ratio is 106.48%.

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.