Evercore ISI Issues Pessimistic Forecast for Brixmor Property Group (NYSE:BRX) Stock Price

Brixmor Property Group (NYSE:BRX) had its target price decreased by Evercore ISI from $32.00 to $31.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target would suggest a potential upside of 11.83% from the stock’s previous close.

A number of other research analysts also recently commented on BRX. Scotiabank boosted their price objective on shares of Brixmor Property Group from $29.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Monday, November 25th. Compass Point upped their price target on shares of Brixmor Property Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Truist Financial increased their price objective on Brixmor Property Group from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company boosted their target price on Brixmor Property Group from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. Finally, KeyCorp raised their price target on Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $30.19.

Brixmor Property Group Price Performance

Shares of NYSE:BRX opened at $27.72 on Tuesday. The company’s fifty day moving average is $28.68 and its two-hundred day moving average is $26.58. The company has a market cap of $8.37 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 3.96 and a beta of 1.58. Brixmor Property Group has a 12-month low of $20.80 and a 12-month high of $30.67. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.85.

Brixmor Property Group (NYSE:BRX) last posted its quarterly 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 net margin of 25.81% and a return on equity of 11.48%. The business had revenue of $320.68 million for the quarter, compared to analyst estimates of $320.22 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts expect that Brixmor Property Group will post 2.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Brixmor Property Group

In related news, insider Steven F. Siegel sold 25,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total transaction of $738,500.00. Following the transaction, the insider now owns 315,004 shares of the company’s stock, valued at approximately $9,305,218.16. The trade was a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Institutional Trading of Brixmor Property Group

Several hedge funds and other institutional investors have recently bought and sold shares of BRX. Quarry LP lifted its stake in shares of Brixmor Property Group by 36.3% in the third quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 364 shares during the period. Creative Planning lifted its position in shares of Brixmor Property Group by 2.8% in the 2nd quarter. Creative Planning now owns 14,615 shares of the real estate investment trust’s stock worth $337,000 after acquiring an additional 396 shares during the period. Fifth Third Bancorp grew its holdings 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 worth $62,000 after purchasing an additional 431 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Brixmor Property Group by 5.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,640 shares of the real estate investment trust’s stock worth $223,000 after purchasing an additional 481 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Brixmor Property Group by 0.4% during the third quarter. State of Alaska Department of Revenue now owns 178,123 shares of the real estate investment trust’s stock valued at $4,961,000 after purchasing an additional 643 shares during the period. 98.43% of the stock is currently owned by institutional investors and hedge funds.

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.