Wells Fargo & Company Issues Pessimistic Forecast for Brixmor Property Group (NYSE:BRX) Stock Price

Brixmor Property Group (NYSE:BRX) had its price target reduced by Wells Fargo & Company from $27.00 to $26.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the real estate investment trust’s stock.

A number of other equities research analysts have also weighed in on the company. BMO Capital Markets upgraded Brixmor Property Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $30.00 to $33.00 in a research report on Friday, December 6th. Scotiabank dropped their price objective on Brixmor Property Group from $32.00 to $30.00 and set a “sector outperform” rating on the stock in a report on Friday, February 28th. Jefferies Financial Group upgraded Brixmor Property Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $28.00 to $33.00 in a research report on Friday, February 14th. Evercore ISI upgraded shares of Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 target price on the stock in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus cut their price target on shares of Brixmor Property Group from $31.75 to $31.25 and set a “hold” rating for the company in a report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.48.

Brixmor Property Group Price Performance

Shares of NYSE BRX opened at $26.09 on Wednesday. The stock has a fifty day moving average price of $26.62 and a 200 day moving average price of $27.55. Brixmor Property Group has a 1-year low of $20.80 and a 1-year high of $30.67. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $7.98 billion, a PE ratio of 23.50, a P/E/G ratio of 2.66 and a beta of 1.59.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, February 10th. The real estate investment trust reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.31. Brixmor Property Group had a net margin of 26.40% and a return on equity of 11.72%. Sell-side analysts forecast that Brixmor Property Group will post 2.22 EPS for the current year.

Brixmor Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a yield of 4.41%. The ex-dividend date is Wednesday, April 2nd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.29. Brixmor Property Group’s dividend payout ratio is 103.60%.

Hedge Funds Weigh In On Brixmor Property Group

Institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its position in Brixmor Property Group by 6.4% during the 4th quarter. Canada Pension Plan Investment Board now owns 7,792,016 shares of the real estate investment trust’s stock worth $216,930,000 after purchasing an additional 467,146 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Brixmor Property Group by 31.3% during the 4th quarter. Deutsche Bank AG now owns 5,882,828 shares of the real estate investment trust’s stock worth $163,778,000 after purchasing an additional 1,404,034 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Brixmor Property Group by 61.1% during the fourth quarter. Invesco Ltd. now owns 5,748,492 shares of the real estate investment trust’s stock worth $160,038,000 after buying an additional 2,180,541 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Brixmor Property Group by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 5,653,925 shares of the real estate investment trust’s stock valued at $157,450,000 after buying an additional 38,911 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Brixmor Property Group by 7.8% during the fourth quarter. Ameriprise Financial Inc. now owns 5,453,599 shares of the real estate investment trust’s stock valued at $151,155,000 after buying an additional 393,317 shares during the period. 98.43% of the stock is owned by institutional investors and hedge funds.

About Brixmor Property Group

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.