Scotiabank Begins Coverage on Brixmor Property Group (BRX)

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Equities research analysts at Scotiabank started coverage on shares of Brixmor Property Group (NYSE:BRX) in a research report issued on Tuesday, October 16th, The Fly reports. The brokerage set an “outperform” rating on the real estate investment trust’s stock.

BRX has been the topic of a number of other research reports. Mizuho downgraded Brixmor Property Group from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a report on Tuesday, August 21st. BMO Capital Markets reaffirmed a “hold” rating and issued a $16.50 target price on shares of Brixmor Property Group in a report on Monday, July 30th. Barclays reissued a “hold” rating and set a $16.00 price objective on shares of Brixmor Property Group in a report on Sunday, October 14th. ValuEngine downgraded Brixmor Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Finally, SunTrust Banks reissued a “buy” rating and set a $20.00 price objective on shares of Brixmor Property Group in a report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Brixmor Property Group currently has a consensus rating of “Hold” and a consensus price target of $18.50.

Brixmor Property Group stock traded down $0.01 during mid-day trading on Tuesday, reaching $16.14. 2,912,564 shares of the company were exchanged, compared to its average volume of 3,561,725. Brixmor Property Group has a 12 month low of $13.74 and a 12 month high of $18.83. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a market cap of $4.84 billion, a PE ratio of 7.72, a price-to-earnings-growth ratio of 2.11 and a beta of 0.47.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $0.49 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.49. The firm had revenue of $306.48 million for the quarter, compared to analyst estimates of $301.87 million. Brixmor Property Group had a return on equity of 12.47% and a net margin of 28.54%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the company earned $0.52 EPS. Sell-side analysts expect that Brixmor Property Group will post 2 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of Brixmor Property Group by 26.5% in the 2nd quarter. Bank of America Corp DE now owns 1,955,044 shares of the real estate investment trust’s stock worth $34,077,000 after acquiring an additional 410,028 shares in the last quarter. Russell Investments Group Ltd. increased its position in Brixmor Property Group by 175.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,291,534 shares of the real estate investment trust’s stock valued at $57,675,000 after buying an additional 2,098,559 shares in the last quarter. Riverhead Capital Management LLC increased its position in Brixmor Property Group by 86.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 305,050 shares of the real estate investment trust’s stock valued at $5,317,000 after buying an additional 141,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Brixmor Property Group by 11.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,400 shares of the real estate investment trust’s stock valued at $1,332,000 after buying an additional 7,949 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in Brixmor Property Group by 25.4% in the 2nd quarter. Schroder Investment Management Group now owns 3,695,743 shares of the real estate investment trust’s stock valued at $65,414,000 after buying an additional 748,041 shares in the last quarter.

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 471 retail centers comprise approximately 80 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.

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The Fly

Analyst Recommendations for Brixmor Property Group (NYSE:BRX)

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