Brixmor Property Group (NYSE:BRX) Downgraded by StockNews.com

StockNews.com downgraded shares of Brixmor Property Group (NYSE:BRX) from a buy rating to a hold rating in a report published on Wednesday.

A number of other brokerages have also issued reports on BRX. JPMorgan Chase & Co. raised their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an overweight rating in a research report on Wednesday, July 31st. Piper Sandler reiterated an overweight rating and issued a $33.00 price objective (up from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Evercore ISI upgraded shares of Brixmor Property Group to a hold rating in a research report on Tuesday, July 30th. Wells Fargo & Company lowered 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 report on Tuesday, May 28th. Finally, The Goldman Sachs Group lifted their price objective on shares of Brixmor Property Group from $26.00 to $29.00 and gave the company a buy rating in a research report on Thursday, August 1st. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $26.86.

Brixmor Property Group Stock Up 1.0 %

Brixmor Property Group stock traded up $0.25 during mid-day trading on Wednesday, hitting $25.46. The company had a trading volume of 1,548,244 shares, compared to its average volume of 2,382,514. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 4.43 and a beta of 1.57. Brixmor Property Group has a 1 year low of $19.46 and a 1 year high of $26.41. The company has a quick ratio of 1.45, a current ratio of 1.50 and a debt-to-equity ratio of 1.88. The business has a fifty day moving average of $23.49 and a 200 day moving average of $22.75.

Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The business had revenue of $315.69 million for the quarter, compared to analysts’ expectations of $317.75 million. Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.52 earnings per share. On average, sell-side analysts expect that Brixmor Property Group will post 2.12 earnings per share for the current fiscal year.

Brixmor Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Wednesday, October 2nd. Brixmor Property Group’s dividend payout ratio (DPR) is currently 117.20%.

Insider Transactions at Brixmor Property Group

In other news, insider Steven F. Siegel sold 10,000 shares of Brixmor Property Group stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the transaction, the insider now owns 360,004 shares of the company’s stock, valued at approximately $8,640,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BRX. Blue Trust Inc. raised its stake in Brixmor Property Group by 258.9% in the 2nd quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,007 shares during the last quarter. Quarry LP acquired a new position in Brixmor Property Group in the 4th quarter valued at about $40,000. GAMMA Investing LLC acquired a new position in Brixmor Property Group in the 4th quarter valued at about $45,000. Larson Financial Group LLC acquired a new position in Brixmor Property Group in the 1st quarter valued at about $47,000. Finally, Abich Financial Wealth Management LLC grew its holdings in Brixmor Property Group by 50.7% in the 1st 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. Institutional investors and hedge funds own 98.43% of the company’s stock.

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.