Brixmor Property Group (NYSE:BRX) Hits New 52-Week High at $27.70

Shares of Brixmor Property Group Inc. (NYSE:BRX) hit a new 52-week high during trading on Thursday . The company traded as high as $27.70 and last traded at $27.63, with a volume of 115754 shares trading hands. The stock had previously closed at $27.37.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BRX shares. StockNews.com cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Mizuho lifted their target price on Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Wells Fargo & Company increased their price target on Brixmor Property Group from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Stifel Nicolaus lifted their price objective on Brixmor Property Group from $24.00 to $25.50 and gave the company a “hold” rating in a report on Tuesday, July 30th. Finally, Compass Point increased their target price on Brixmor Property Group from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Brixmor Property Group presently has a consensus rating of “Moderate Buy” and an average target price of $28.13.

Brixmor Property Group Price Performance

The firm has a market cap of $8.19 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 4.79 and a beta of 1.57. The company’s fifty day moving average is $25.18 and its 200 day moving average is $23.30. 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 (NYSE:BRX) last posted its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The business had revenue of $315.69 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, equities research analysts predict that Brixmor Property Group Inc. will post 2.13 EPS for the current year.

Brixmor Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Wednesday, October 2nd. Brixmor Property Group’s dividend payout ratio (DPR) is 117.20%.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Truist Financial Corp grew its stake in shares of Brixmor Property Group by 0.8% in the second quarter. Truist Financial Corp now owns 84,381 shares of the real estate investment trust’s stock valued at $1,948,000 after acquiring an additional 659 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Brixmor Property Group in the 2nd quarter valued at about $11,626,000. Creative Planning grew its position in shares of Brixmor Property Group by 2.8% during the 2nd quarter. Creative Planning now owns 14,615 shares of the real estate investment trust’s stock worth $337,000 after purchasing an additional 396 shares in the last quarter. Algert Global LLC increased its holdings in shares of Brixmor Property Group by 29.2% during the second quarter. Algert Global LLC now owns 208,502 shares of the real estate investment trust’s stock worth $4,814,000 after purchasing an additional 47,062 shares during the period. Finally, Lighthouse Investment Partners LLC raised its position in shares of Brixmor Property Group by 27.2% in the second quarter. Lighthouse Investment Partners LLC now owns 1,145,233 shares of the real estate investment trust’s stock valued at $26,443,000 after buying an additional 245,233 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

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.