Brixmor Property Group (NYSE:BRX) Sets New 52-Week High After Analyst Upgrade

Brixmor Property Group Inc. (NYSE:BRX) reached a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from $29.00 to $32.00. Scotiabank currently has a sector outperform rating on the stock. Brixmor Property Group traded as high as $30.00 and last traded at $30.00, with a volume of 124 shares changing hands. The stock had previously closed at $29.83.

BRX has been the topic of several other reports. JPMorgan Chase & Co. raised their price objective 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. Compass Point raised their price objective on shares of Brixmor Property Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Piper Sandler reissued an “overweight” rating and set a $33.00 price objective (up from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. The Goldman Sachs Group raised their price objective on shares of Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, StockNews.com cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $29.38.

Insider Activity at Brixmor Property Group

In related news, insider Steven F. Siegel sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total value of $738,500.00. Following the completion of the sale, the insider now owns 315,004 shares in the company, valued at $9,305,218.16. This trade represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Brixmor Property Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board raised its position in Brixmor Property Group by 37.4% during the second quarter. Canada Pension Plan Investment Board now owns 7,324,870 shares of the real estate investment trust’s stock worth $169,131,000 after acquiring an additional 1,995,299 shares during the last quarter. Millennium Management LLC lifted its position in Brixmor Property Group by 35.5% during the second quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust’s stock valued at $132,443,000 after buying an additional 1,501,282 shares in the last quarter. Geode Capital Management LLC lifted its position in Brixmor Property Group by 0.8% during the third quarter. Geode Capital Management LLC now owns 5,615,014 shares of the real estate investment trust’s stock valued at $156,473,000 after buying an additional 44,485 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Brixmor Property Group by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,959,993 shares of the real estate investment trust’s stock worth $138,185,000 after purchasing an additional 159,388 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Brixmor Property Group by 9.0% in the second quarter. Dimensional Fund Advisors LP now owns 4,804,746 shares of the real estate investment trust’s stock valued at $110,940,000 after acquiring an additional 396,242 shares in the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Brixmor Property Group Stock Up 0.4 %

The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 4.07 and a beta of 1.57. The stock’s fifty day simple moving average is $28.01 and its two-hundred day simple moving average is $25.50. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.38 and a quick ratio of 1.38.

Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). The business had revenue of $320.68 million for the quarter, compared to analyst estimates of $320.22 million. Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company posted $0.50 earnings per share. On average, sell-side analysts predict that Brixmor Property Group Inc. will post 2.14 earnings per share for the current fiscal year.

Brixmor Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be issued a $0.287 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s dividend payout ratio (DPR) is 100.93%.

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.