KeyCorp Forecasts Strong Price Appreciation for Brixmor Property Group (NYSE:BRX) Stock

Brixmor Property Group (NYSE:BRX) had its target price hoisted by KeyCorp from $28.00 to $32.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on BRX. Mizuho increased their target price on shares of Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Wells Fargo & Company lifted their target price on Brixmor Property Group from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Stifel Nicolaus lifted their price target on shares of Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a report on Tuesday, October 29th. The Goldman Sachs Group upped 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 lowered shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.13.

Brixmor Property Group Stock Performance

Shares of NYSE:BRX traded up $0.08 during trading on Tuesday, reaching $28.76. 136,452 shares of the stock were exchanged, compared to its average volume of 2,278,779. The firm has a market cap of $8.69 billion, a PE ratio of 26.56, a PEG ratio of 3.93 and a beta of 1.57. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85. Brixmor Property Group has a 12 month low of $20.80 and a 12 month high of $29.19. The stock has a 50-day moving average price of $27.76 and a 200-day moving average price of $25.15.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%. The firm had revenue of $320.68 million during the quarter, compared to analyst estimates of $320.22 million. During the same period in the prior year, the company earned $0.50 earnings per share. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts expect that Brixmor Property Group will post 2.14 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be given a $0.287 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.99%. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s payout ratio is 100.93%.

Institutional Trading of Brixmor Property Group

A number of institutional investors have recently bought and sold shares of the company. UMB Bank n.a. raised its position in shares of Brixmor Property Group by 328.6% in the 3rd quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 723 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Brixmor Property Group by 258.9% during the 2nd quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,007 shares in the last quarter. Maryland Capital Advisors Inc. acquired a new stake in shares of Brixmor Property Group during the 3rd quarter worth approximately $46,000. Abich Financial Wealth Management LLC increased its stake 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. Finally, Fifth Third Bancorp increased 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 valued at $62,000 after acquiring an additional 431 shares in 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.