Analysts Set Brixmor Property Group Inc. (NYSE:BRX) Target Price at $30.19

Shares of Brixmor Property Group Inc. (NYSE:BRX) have been given an average recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $30.19.

BRX has been the subject of a number of recent research reports. Scotiabank increased their target price on Brixmor Property Group from $29.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Monday, November 25th. Stifel Nicolaus lifted their price objective on Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a report on Tuesday, October 29th. Evercore ISI reduced their target price on shares of Brixmor Property Group from $32.00 to $31.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. Truist Financial increased their target price on shares of Brixmor Property Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, KeyCorp boosted their price target on shares of Brixmor Property Group from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th.

Brixmor Property Group Stock Down 0.6 %

Shares of BRX stock opened at $27.57 on Wednesday. Brixmor Property Group has a one year low of $20.80 and a one year high of $30.67. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a fifty day moving average price of $28.67 and a 200 day moving average price of $26.66. The stock has a market cap of $8.33 billion, a P/E ratio of 25.53, a price-to-earnings-growth ratio of 3.96 and a beta of 1.58.

Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.21). Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%. The business had revenue of $320.68 million for the quarter, compared to analyst estimates of $320.22 million. During the same quarter last year, the firm posted $0.50 earnings per share. Brixmor Property Group’s revenue was up 4.3% on a year-over-year basis. Analysts predict that Brixmor Property Group will post 2.14 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be given a $0.287 dividend. This represents a $1.15 annualized dividend and a yield of 4.16%. The ex-dividend date is Friday, January 3rd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s payout ratio is 106.48%.

Insider Activity

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total transaction of $738,500.00. Following the transaction, the insider now directly owns 315,004 shares in the company, valued at approximately $9,305,218.16. This represents a 7.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Brixmor Property Group

A number of institutional investors and hedge funds have recently modified their holdings of BRX. Canada Pension Plan Investment Board boosted its stake in Brixmor Property Group by 37.4% in the second quarter. Canada Pension Plan Investment Board now owns 7,324,870 shares of the real estate investment trust’s stock valued at $169,131,000 after acquiring an additional 1,995,299 shares during the last quarter. Millennium Management LLC grew its stake in shares of Brixmor Property Group by 35.5% during the second quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust’s stock worth $132,443,000 after purchasing an additional 1,501,282 shares during the period. Geode Capital Management LLC increased its holdings in Brixmor Property Group by 0.8% in the third quarter. Geode Capital Management LLC now owns 5,615,014 shares of the real estate investment trust’s stock valued at $156,473,000 after purchasing an additional 44,485 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Brixmor Property Group by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,959,993 shares of the real estate investment trust’s stock valued at $138,185,000 after buying an additional 159,388 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Brixmor Property Group by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 4,804,746 shares of the real estate investment trust’s stock worth $110,940,000 after buying an additional 396,242 shares during the last quarter. 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.