Brixmor Property Group (NYSE:BRX) PT Raised to $27.00 at Evercore ISI

Brixmor Property Group (NYSE:BRX) had its price target upped by Evercore ISI from $26.00 to $27.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price would indicate a potential downside of 1.85% from the company’s previous close.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. raised their price objective on Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Truist Financial raised their target price on Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, August 16th. StockNews.com downgraded Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Wells Fargo & Company raised their target price on Brixmor Property Group from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $33.00 price target (up from $30.00) on shares of Brixmor Property Group in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Brixmor Property Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.13.

Brixmor Property Group Trading Up 0.4 %

Shares of BRX stock traded up $0.10 during mid-day trading on Wednesday, hitting $27.51. 425,217 shares of the company’s stock were exchanged, compared to its average volume of 2,329,415. Brixmor Property Group has a fifty-two week low of $19.46 and a fifty-two week high of $27.60. The stock has a 50-day simple moving average of $24.42 and a two-hundred day simple moving average of $23.06. 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 stock has a market cap of $8.29 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 4.43 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.29). The firm had revenue of $315.69 million during 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 company’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. Equities analysts expect that Brixmor Property Group will post 2.12 EPS for the current fiscal year.

Insider Activity

In other news, insider Steven F. Siegel sold 10,000 shares of Brixmor Property Group stock in a transaction that occurred 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 sale, the insider now owns 360,004 shares of the company’s stock, valued at $8,640,096. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Sheryl Maxwell Crosland sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total transaction of $127,250.00. Following the sale, the director now owns 46,291 shares of the company’s stock, valued at $1,178,105.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven F. Siegel sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Creative Planning increased its holdings in shares of Brixmor Property Group by 2.8% in the second quarter. Creative Planning now owns 14,615 shares of the real estate investment trust’s stock valued at $337,000 after buying an additional 396 shares in the last quarter. Fifth Third Bancorp increased its position in shares of 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 worth $62,000 after acquiring an additional 431 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Brixmor Property Group by 5.3% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 9,640 shares of the real estate investment trust’s stock worth $223,000 after acquiring an additional 481 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Brixmor Property Group by 0.8% during the second quarter. Truist Financial Corp now owns 84,381 shares of the real estate investment trust’s stock valued at $1,948,000 after acquiring an additional 659 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its position in shares of 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 acquiring an additional 775 shares in the last quarter. Institutional investors 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.