Citigroup upgraded shares of Brixmor Property Group (NYSE:BRX) to an overweight rating in a research note published on Wednesday morning. They currently have $21.00 target price on the real estate investment trust’s stock, up from their previous target price of $19.00. The analysts noted that the move was a valuation call.
Several other equities analysts have also recently issued reports on the stock. Mizuho reiterated a buy rating and set a $19.50 price target on shares of Brixmor Property Group in a research report on Friday, November 10th. Boenning Scattergood upgraded shares of Brixmor Property Group from a neutral rating to an outperform rating and set a $22.00 price target on the stock in a research report on Tuesday, September 12th. BMO Capital Markets set a $19.00 price target on shares of Brixmor Property Group and gave the company a hold rating in a research report on Tuesday, December 5th. Zacks Investment Research upgraded shares of Brixmor Property Group from a sell rating to a hold rating in a research report on Wednesday, October 25th. Finally, Stifel Nicolaus initiated coverage on shares of Brixmor Property Group in a research report on Thursday, November 30th. They set a hold rating and a $19.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Brixmor Property Group has an average rating of Hold and a consensus price target of $21.38.
Shares of Brixmor Property Group (NYSE:BRX) traded down $0.30 during midday trading on Wednesday, hitting $18.02. 3,166,116 shares of the company traded hands, compared to its average volume of 3,055,200. Brixmor Property Group has a one year low of $17.23 and a one year high of $25.34. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $5,590.00, a PE ratio of 17.00, a P/E/G ratio of 2.09 and a beta of 0.52.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.24). Brixmor Property Group had a net margin of 25.14% and a return on equity of 11.08%. The company had revenue of $314.50 million for the quarter, compared to analysts’ expectations of $317.31 million. During the same quarter in the prior year, the firm earned $0.51 EPS. Brixmor Property Group’s quarterly revenue was down 1.3% compared to the same quarter last year. equities analysts anticipate that Brixmor Property Group will post 2.08 EPS for the current year.
Brixmor Property Group announced that its board has approved a stock repurchase program on Tuesday, December 5th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, January 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, January 3rd. This represents a $1.10 annualized dividend and a yield of 6.10%. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.26. Brixmor Property Group’s payout ratio is presently 98.11%.
In other Brixmor Property Group news, EVP Mark Horgan acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were acquired at an average price of $17.64 per share, with a total value of $52,920.00. Following the completion of the purchase, the executive vice president now directly owns 56,703 shares of the company’s stock, valued at approximately $1,000,240.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.27% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. lifted its stake in shares of Brixmor Property Group by 3.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,183,228 shares of the real estate investment trust’s stock worth $39,037,000 after buying an additional 79,331 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Brixmor Property Group by 21.2% in the second quarter. Advisors Asset Management Inc. now owns 15,906 shares of the real estate investment trust’s stock worth $284,000 after buying an additional 2,786 shares in the last quarter. Comerica Bank lifted its stake in shares of Brixmor Property Group by 13.1% in the second quarter. Comerica Bank now owns 26,678 shares of the real estate investment trust’s stock worth $505,000 after buying an additional 3,085 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Brixmor Property Group by 126.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 253,279 shares of the real estate investment trust’s stock worth $4,529,000 after buying an additional 141,256 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its stake in shares of Brixmor Property Group by 9.1% in the second quarter. Federated Investors Inc. PA now owns 20,021 shares of the real estate investment trust’s stock worth $358,000 after buying an additional 1,670 shares in the last quarter. 98.30% of the stock is currently owned by institutional investors and hedge funds.
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About Brixmor Property Group
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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