Brixmor Property Group (NYSE:BRX) Given New $28.00 Price Target at Evercore ISI

Brixmor Property Group (NYSE:BRX) had its price objective lifted by Evercore ISI from $27.00 to $28.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Several other research analysts also recently weighed in on BRX. Stifel Nicolaus boosted their target price on Brixmor Property Group from $24.00 to $25.50 and gave the stock a hold rating in a research note on Tuesday, July 30th. Scotiabank boosted their target price on Brixmor Property Group from $25.00 to $29.00 and gave the stock a sector outperform rating in a research note on Monday, August 26th. The Goldman Sachs Group boosted their price target on Brixmor Property Group from $26.00 to $29.00 and gave the company a buy rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on Brixmor Property Group from $26.00 to $28.00 and gave the company an overweight rating in a research note on Wednesday, July 31st. Finally, Mizuho boosted their price target on Brixmor Property Group from $23.00 to $27.00 and gave the company a neutral rating in a research note on Monday, August 19th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $28.38.

Brixmor Property Group Trading Up 0.4 %

Shares of NYSE BRX opened at $28.14 on Monday. The firm has a market cap of $8.48 billion, a PE ratio of 30.26, a price-to-earnings-growth ratio of 4.78 and a beta of 1.57. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.88. Brixmor Property Group has a twelve month low of $19.46 and a twelve month high of $28.28. The business has a fifty day simple moving average of $25.66 and a two-hundred day simple moving average of $23.48.

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

Brixmor Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a $0.2725 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.09 dividend on an annualized basis and a yield of 3.87%. Brixmor Property Group’s payout ratio is 117.21%.

Insider Buying and Selling at Brixmor Property Group

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Creative Planning grew its position in Brixmor Property Group by 2.8% in the second 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 boosted its position in shares of Brixmor Property Group by 19.1% during the second quarter. Fifth Third Bancorp now owns 2,684 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 431 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Brixmor Property Group by 5.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,640 shares of the real estate investment trust’s stock worth $223,000 after buying an additional 481 shares during the period. Truist Financial Corp boosted its position in shares of Brixmor Property Group by 0.8% during the second quarter. Truist Financial Corp now owns 84,381 shares of the real estate investment trust’s stock worth $1,948,000 after buying an additional 659 shares during the period. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Brixmor Property Group by 50.7% during 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.