Brixmor Property Group’s (BRX) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Brixmor Property Group (NYSE:BRX) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $33.00 target price on the real estate investment trust’s stock, up from their prior target price of $30.00.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company cut their price target on shares of Brixmor Property Group from $25.00 to $24.00 and set an equal weight rating for the company in a research note on Tuesday, May 28th. JPMorgan Chase & Co. cut their target price on Brixmor Property Group from $27.00 to $26.00 and set an overweight rating for the company in a research report on Monday, May 13th. Mizuho decreased their price target on Brixmor Property Group from $24.00 to $23.00 and set a neutral rating on the stock in a research note on Thursday, May 23rd. Stifel Nicolaus increased their price objective on Brixmor Property Group from $24.00 to $25.50 and gave the stock a hold rating in a research note on Tuesday, July 30th. Finally, StockNews.com cut Brixmor Property Group from a buy rating to a hold rating in a report on Monday, July 29th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $26.75.

Brixmor Property Group Stock Performance

NYSE:BRX opened at $25.37 on Wednesday. The firm’s 50-day moving average is $23.17 and its 200-day moving average is $22.66. The company has a market cap of $7.65 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 4.43 and a beta of 1.57. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.45 and a current ratio of 1.50. Brixmor Property Group has a 52-week low of $19.46 and a 52-week high of $26.41.

Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 EPS 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 during the quarter, compared to the consensus estimate of $317.75 million. During the same period last year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts anticipate that Brixmor Property Group will post 2.12 earnings per share for the current year.

Brixmor Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.2725 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.30%. Brixmor Property Group’s payout ratio is currently 117.21%.

Insider Activity at Brixmor Property Group

In related news, insider Steven F. Siegel 10,000 shares of the stock in a transaction dated Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Brixmor Property Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. raised its position in shares of Brixmor Property Group by 258.9% during the 2nd quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,007 shares during the last quarter. Quarry LP acquired a new stake in shares of Brixmor Property Group during the fourth quarter worth $40,000. GAMMA Investing LLC bought a new stake in Brixmor Property Group in the fourth quarter valued at about $45,000. Larson Financial Group LLC bought a new stake in Brixmor Property Group in the first quarter valued at about $47,000. Finally, Abich Financial Wealth Management LLC lifted its stake in Brixmor Property Group by 50.7% in the first quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock valued at $54,000 after buying an additional 775 shares during the period. 98.43% of the stock is owned by institutional investors.

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.