Brixmor Property Group (NYSE:BRX) Hits New 1-Year High – Here’s Why

Shares of Brixmor Property Group Inc. (NYSE:BRX) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $28.46 and last traded at $28.28, with a volume of 282247 shares changing hands. The stock had previously closed at $28.35.

Analyst Ratings Changes

BRX has been the topic of several recent research reports. Piper Sandler reiterated an “overweight” rating and set a $33.00 price objective (up previously from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Mizuho increased their target price on shares of Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Stifel Nicolaus raised their price target on shares of Brixmor Property Group from $24.00 to $25.50 and gave the company a “hold” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, Scotiabank raised 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. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.38.

Brixmor Property Group Price Performance

The company has a debt-to-equity ratio of 1.88, a current ratio of 1.50 and a quick ratio of 1.50. The company has a fifty day moving average of $27.34 and a 200-day moving average of $24.43. The firm has a market cap of $8.42 billion, a P/E ratio of 30.04, a P/E/G ratio of 4.43 and a beta of 1.57.

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

Brixmor Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd were given a dividend of $0.2725 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $1.09 annualized dividend and a yield of 3.90%. Brixmor Property Group’s payout ratio is presently 117.20%.

Insider Transactions at Brixmor Property Group

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of Brixmor Property Group 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 transaction, the director now directly owns 46,291 shares of the company’s stock, valued at $1,178,105.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Brixmor Property Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank n.a. raised its position in Brixmor Property Group by 328.6% during the 3rd quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 723 shares during the last quarter. Blue Trust Inc. lifted its stake in Brixmor Property Group by 258.9% in the second 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 during the period. Maryland Capital Advisors Inc. purchased a new stake in Brixmor Property Group in the third quarter worth $46,000. Larson Financial Group LLC bought a new stake in Brixmor Property Group in the first quarter valued at $47,000. Finally, Abich Financial Wealth Management LLC increased its position in Brixmor Property Group by 50.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 775 shares during the period. 98.43% of the stock is owned by 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.