Brixmor Property Group (NYSE:BRX) Given New $32.00 Price Target at Scotiabank

Brixmor Property Group (NYSE:BRX) had its price objective hoisted by Scotiabank from $29.00 to $32.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the real estate investment trust’s stock.

Several other analysts have also recently issued reports on BRX. StockNews.com cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Piper Sandler reaffirmed an “overweight” rating and issued a $33.00 price objective (up from $30.00) on shares of Brixmor Property Group in a research note on Wednesday, July 31st. Truist Financial lifted their target price on Brixmor Property Group from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. KeyCorp increased their price target on Brixmor Property Group from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Finally, Evercore ISI lifted their price objective on shares of Brixmor Property Group from $27.00 to $28.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Five equities research 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.com, Brixmor Property Group has a consensus rating of “Moderate Buy” and a consensus target price of $29.38.

Brixmor Property Group Price Performance

NYSE:BRX opened at $30.02 on Monday. The business’s 50-day moving average is $28.01 and its 200 day moving average is $25.50. Brixmor Property Group has a 12 month low of $20.80 and a 12 month high of $30.17. The company has a market capitalization of $9.07 billion, a P/E ratio of 27.80, a P/E/G ratio of 4.07 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 (NYSE:BRX) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $320.22 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Brixmor Property Group will post 2.14 earnings per share for the current fiscal year.

Brixmor Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be given a $0.287 dividend. This represents a $1.15 annualized dividend and a yield of 3.82%. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, January 3rd. Brixmor Property Group’s payout ratio is 100.93%.

Insiders Place Their Bets

In related news, insider Steven F. Siegel sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 approximately $9,305,218.16. The trade was 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 accessible through the SEC website. Insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Brixmor Property Group

A number of institutional investors and hedge funds have recently bought and sold shares of BRX. UMB Bank n.a. increased its stake in shares of Brixmor Property Group by 328.6% during the third quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 723 shares during the period. Blue Trust Inc. grew its holdings in 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 acquiring an additional 1,007 shares in the last quarter. Quarry LP grew its holdings in Brixmor Property Group by 36.3% during the 3rd quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 364 shares in the last quarter. Maryland Capital Advisors Inc. purchased a new position in Brixmor Property Group during the 3rd quarter valued at about $46,000. Finally, Abich Financial Wealth Management LLC raised its holdings 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 purchasing an additional 775 shares in the last quarter. 98.43% of the stock is owned by institutional investors.

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.