Brixmor Property Group (NYSE:BRX) Price Target Raised to $32.00 at Scotiabank

Brixmor Property Group (NYSE:BRX) had its target price increased by Scotiabank from $29.00 to $32.00 in a research report released on Monday,Benzinga reports. The firm currently has a sector outperform rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the company. Mizuho raised their price target on Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Evercore ISI lifted their target price on shares of Brixmor Property Group from $27.00 to $28.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Truist Financial upped their price target on shares of Brixmor Property Group from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Piper Sandler reiterated an “overweight” rating and set a $33.00 price objective (up from $30.00) on shares of Brixmor Property Group in a research note on Wednesday, July 31st. Finally, Compass Point boosted their price objective on shares of Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.38.

Brixmor Property Group Stock Performance

Shares of Brixmor Property Group stock opened at $30.02 on Monday. The company has a market capitalization of $9.07 billion, a PE ratio of 27.80, a P/E/G ratio of 4.07 and a beta of 1.57. The company has a 50-day simple moving average of $28.01 and a two-hundred day simple moving average of $25.50. Brixmor Property Group has a one year low of $20.80 and a one year high of $30.17. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the previous year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. Research analysts expect that Brixmor Property Group 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 paid a $0.287 dividend. This represents a $1.15 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Friday, January 3rd. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s dividend payout ratio is 100.93%.

Insider Buying and Selling

In other news, insider Steven F. Siegel sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.54, for a total transaction of $738,500.00. Following the completion of the transaction, the insider now directly 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 filing with the SEC, which can be accessed through the SEC website. 0.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Brixmor Property Group

Institutional investors have recently modified their holdings of the company. UMB Bank n.a. increased its holdings in Brixmor Property Group by 328.6% in the third quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 723 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Brixmor Property Group by 258.9% during the 2nd 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 in the last quarter. Quarry LP increased its holdings in shares of Brixmor Property Group by 36.3% in the 3rd quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 364 shares during the last quarter. Maryland Capital Advisors Inc. acquired a new stake in shares of Brixmor Property Group during the 3rd quarter worth about $46,000. Finally, Abich Financial Wealth Management LLC lifted its stake in 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 purchasing an additional 775 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Brixmor Property Group Company Profile

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.