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

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

A number of other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Mizuho increased 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. The Goldman Sachs Group lifted their price objective on Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Evercore ISI increased their target price on Brixmor Property Group from $27.00 to $28.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their target price on Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Five 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 a consensus rating of “Moderate Buy” and a consensus target price of $29.38.

Brixmor Property Group Stock Up 0.3 %

Shares of BRX opened at $30.37 on Monday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38. The company has a 50-day simple moving average of $28.14 and a 200-day simple moving average of $25.65. Brixmor Property Group has a 52 week low of $20.80 and a 52 week high of $30.67. The firm has a market capitalization of $9.17 billion, a P/E ratio of 28.12, a P/E/G ratio of 4.09 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.32 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 the consensus estimate of $320.22 million. During the same quarter in the prior year, the business posted $0.50 EPS. Brixmor Property Group’s revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts expect that Brixmor Property Group will post 2.14 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The firm also recently announced 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. The ex-dividend date is Friday, January 3rd. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.78%. Brixmor Property Group’s dividend payout ratio (DPR) is 100.93%.

Insider Buying and Selling

In related news, insider Steven F. Siegel sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total value of $738,500.00. Following the completion of the sale, the insider now owns 315,004 shares of the company’s stock, valued at $9,305,218.16. This trade represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BRX. UMB Bank n.a. lifted 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 period. Blue Trust Inc. raised its stake in shares of Brixmor Property Group by 258.9% during the second quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,007 shares during the last quarter. Quarry LP lifted its holdings in Brixmor Property Group by 36.3% in the third quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 364 shares during the period. Maryland Capital Advisors Inc. bought a new position in Brixmor Property Group in the third quarter valued at approximately $46,000. Finally, Abich Financial Wealth Management LLC grew its holdings 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 worth $54,000 after acquiring an additional 775 shares during the period. 98.43% of the stock is currently 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.