Brixmor Property Group (NYSE:BRX) Price Target Raised to $28.00

Brixmor Property Group (NYSE:BRX) had its price objective upped by Wells Fargo & Company from $24.00 to $28.00 in a research note issued to investors on Wednesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

Several other analysts also recently commented on BRX. Piper Sandler reaffirmed an overweight rating and issued a $33.00 target price (up from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. KeyCorp boosted their price objective on Brixmor Property Group from $26.00 to $28.00 and gave the company an overweight rating in a report on Wednesday, August 7th. Evercore ISI upgraded Brixmor Property Group to a hold rating in a report on Tuesday, July 30th. StockNews.com lowered shares of Brixmor Property Group from a buy rating to a hold rating in a research note on Wednesday, August 7th. Finally, Mizuho raised their price objective on shares of Brixmor Property Group from $23.00 to $27.00 and gave the company a neutral rating in a research note on Monday, August 19th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $28.13.

Brixmor Property Group Price Performance

Brixmor Property Group stock opened at $27.39 on Wednesday. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 29.45, a PEG ratio of 4.43 and a beta of 1.57. Brixmor Property Group has a 52-week low of $19.46 and a 52-week high of $27.64. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.45 and a current ratio of 1.50. The stock’s 50 day moving average price is $24.72 and its two-hundred day moving average price is $23.16.

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 (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.29). The company had revenue of $315.69 million for the quarter, compared to the consensus estimate of $317.75 million. Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. On average, equities analysts predict that Brixmor Property Group will post 2.12 earnings per share for the current year.

Brixmor Property Group Dividend Announcement

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 issued a $0.2725 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.09 annualized dividend and a dividend yield of 3.98%. Brixmor Property Group’s dividend payout ratio is currently 117.20%.

Insider Buying and Selling

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

Institutional Trading of Brixmor Property Group

Several hedge funds have recently added to or reduced their stakes in BRX. Creative Planning grew its position in shares of Brixmor Property Group by 2.8% during the 2nd quarter. Creative Planning now owns 14,615 shares of the real estate investment trust’s stock valued at $337,000 after acquiring an additional 396 shares during the period. Fifth Third Bancorp grew its holdings in Brixmor Property Group by 19.1% during 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. Wealth Enhancement Advisory Services LLC increased its position in 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 buying an additional 481 shares during the last quarter. Truist Financial Corp raised its stake in shares of Brixmor Property Group by 0.8% in 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 buying 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% during 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 last quarter. Institutional investors own 98.43% of the company’s stock.

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.