Brixmor Property Group (NYSE:BRX) Hits New 12-Month High at $24.78

Brixmor Property Group Inc. (NYSE:BRX)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $24.78 and last traded at $24.78, with a volume of 86548 shares. The stock had previously closed at $24.70.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Mizuho decreased their target price on Brixmor Property Group from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, May 23rd. Wells Fargo & Company cut their price objective on shares of Brixmor Property Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 28th. Truist Financial reaffirmed a “buy” rating and issued a $25.00 price target on shares of Brixmor Property Group in a report on Monday, March 25th. JPMorgan Chase & Co. reduced their price target 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. Finally, StockNews.com raised shares of Brixmor Property Group from a “hold” rating to a “buy” rating in a research note on Monday, July 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.13.

Brixmor Property Group Trading Up 0.4 %

The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 1.86. The company has a fifty day simple moving average of $22.66 and a 200-day simple moving average of $22.51. The company has a market capitalization of $7.48 billion, a PE ratio of 26.56, a PEG ratio of 4.26 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.22). Brixmor Property Group had a net margin of 22.47% and a return on equity of 9.84%. The company had revenue of $320.24 million during the quarter, compared to analyst estimates of $314.82 million. During the same period in the previous year, the company earned $0.50 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. Analysts predict that Brixmor Property Group Inc. will post 2.11 EPS for the current year.

Brixmor Property Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd were paid a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date was Tuesday, July 2nd. Brixmor Property Group’s dividend payout ratio (DPR) is 117.21%.

Insider Activity

In other Brixmor Property Group news, insider Steven F. Siegel sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the insider now directly owns 360,004 shares in the company, valued at approximately $8,640,096. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.76% of the company’s stock.

Institutional Trading of Brixmor Property Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC acquired a new position in Brixmor Property Group in the second quarter valued at approximately $238,000. Fifth Third Bancorp increased its stake in Brixmor Property Group by 19.1% in the second quarter. Fifth Third Bancorp now owns 2,684 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 431 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Brixmor Property Group by 2.9% during the second quarter. Nisa Investment Advisors LLC now owns 105,866 shares of the real estate investment trust’s stock worth $2,444,000 after buying an additional 3,000 shares during the period. Blue Trust Inc. grew its holdings 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. Finally, Vanderbilt University increased its position in Brixmor Property Group by 27.7% in the 2nd quarter. Vanderbilt University now owns 44,802 shares of the real estate investment trust’s stock valued at $1,034,000 after acquiring an additional 9,709 shares during the period. 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.