Brixmor Property Group (NYSE:BRX) Sets New 1-Year High – Should You Buy?

Brixmor Property Group Inc. (NYSE:BRX) reached a new 52-week high on Wednesday . The company traded as high as $28.88 and last traded at $28.78, with a volume of 34443 shares changing hands. The stock had previously closed at $28.33.

Analyst Ratings Changes

Several research analysts have recently commented on BRX shares. The Goldman Sachs Group boosted their target price on Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price objective on Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. KeyCorp lifted their price objective on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Mizuho lifted their price target on shares of Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Finally, Truist Financial lifted their price objective on Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 16th. Five equities 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, Brixmor Property Group presently has an average rating of “Moderate Buy” and an average price target of $28.54.

Brixmor Property Group Stock Up 0.5 %

The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85. The firm has a market cap of $8.60 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 4.42 and a beta of 1.57. The stock has a fifty day simple moving average of $27.58 and a two-hundred day simple moving average of $24.86.

Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $320.22 million. During the same period in the prior year, the company posted $0.50 EPS. The firm’s revenue was up 4.3% on a year-over-year basis. As a group, sell-side analysts expect that Brixmor Property Group Inc. will post 2.14 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be issued a $0.287 dividend. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 3rd. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.03%. Brixmor Property Group’s payout ratio is presently 106.48%.

Insider Activity

In other news, Director Sheryl Maxwell Crosland sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total value of $127,250.00. Following the sale, the director now owns 46,291 shares in the company, valued at $1,178,105.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Brixmor Property Group

Institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc acquired a new stake in shares of Brixmor Property Group in the third quarter valued at $247,000. Metis Global Partners LLC increased its stake in Brixmor Property Group by 29.7% in the 3rd quarter. Metis Global Partners LLC now owns 31,021 shares of the real estate investment trust’s stock valued at $864,000 after buying an additional 7,103 shares during the period. KBC Group NV grew its holdings in Brixmor Property Group by 14.3% during the third quarter. KBC Group NV now owns 7,157 shares of the real estate investment trust’s stock worth $199,000 after acquiring an additional 897 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in shares of Brixmor Property Group by 65.6% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 197,574 shares of the real estate investment trust’s stock worth $5,504,000 after acquiring an additional 78,236 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in Brixmor Property Group by 26.8% during the third quarter. Los Angeles Capital Management LLC now owns 60,039 shares of the real estate investment trust’s stock worth $1,673,000 after purchasing an additional 12,700 shares in the last quarter. 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.