Evercore ISI Raises Brixmor Property Group (NYSE:BRX) Price Target to $28.00

Brixmor Property Group (NYSE:BRX) had its target price raised by Evercore ISI from $27.00 to $28.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s target price would suggest a potential downside of 0.28% from the stock’s current price.

A number of other equities analysts also recently commented on BRX. Stifel Nicolaus lifted their price target on Brixmor Property Group from $24.00 to $25.50 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Scotiabank lifted their target price on Brixmor Property Group from $25.00 to $29.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. 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 report on Wednesday, July 31st. KeyCorp raised their price objective on Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Compass Point lifted their price objective on shares of Brixmor Property Group from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.38.

Brixmor Property Group Stock Up 0.2 %

NYSE BRX traded up $0.06 during mid-day trading on Monday, reaching $28.08. 164,451 shares of the company’s stock traded hands, compared to its average volume of 2,311,426. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.88. Brixmor Property Group has a 1-year low of $19.46 and a 1-year high of $28.25. The company has a fifty day simple moving average of $25.66 and a 200-day simple moving average of $23.48. The company has a market cap of $8.46 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 4.78 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The company had revenue of $315.69 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. As a group, equities research analysts expect that Brixmor Property Group will post 2.13 EPS for the current year.

Insider Buying and Selling

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 transaction of $127,250.00. Following the completion of the transaction, the director now owns 46,291 shares in the company, valued at approximately $1,178,105.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sheryl Maxwell Crosland sold 5,000 shares of the company’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 value of $127,250.00. Following the completion of the sale, the director now owns 46,291 shares of the company’s stock, valued at $1,178,105.95. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

Institutional Trading of Brixmor Property Group

A number of hedge funds and other institutional investors have recently modified their holdings of BRX. Blue Trust Inc. boosted its stake in 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 valued at $33,000 after buying an additional 1,007 shares in the last quarter. Quarry LP acquired a new stake in Brixmor Property Group in the 4th quarter valued at about $40,000. Larson Financial Group LLC acquired a new stake in Brixmor Property Group in the 1st quarter valued at about $47,000. Abich Financial Wealth Management LLC boosted 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 purchasing an additional 775 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Brixmor Property Group by 19.1% in the 2nd quarter. Fifth Third Bancorp now owns 2,684 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 431 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.