Brixmor Property Group (NYSE:BRX) Stock Price Target Lowered at Citigroup

Brixmor Property Group (NYSE:BRX) had its price target cut by investment analysts at Citigroup from $34.00 to $32.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the real estate investment trust’s stock. Citigroup‘s price objective would suggest a potential upside of 8.37% from the company’s current price.

Several other brokerages have also recently issued reports on BRX. Weiss Ratings reiterated a “buy (b)” rating on shares of Brixmor Property Group in a research report on Thursday. KeyCorp restated an “overweight” rating and issued a $34.00 price objective on shares of Brixmor Property Group in a report on Wednesday, October 7th. Truist Financial initiated coverage on Brixmor Property Group in a research note on Friday, October 2nd. They set a “buy” rating and a $31.00 target price for the company. Piper Sandler lowered their target price on Brixmor Property Group from $40.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Finally, UBS Group dropped their price target on shares of Brixmor Property Group from $37.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.95.

Brixmor Property Group Stock Up 1.3%

BRX traded up $0.39 during trading hours on Monday, reaching $29.53. 1,194,187 shares of the stock traded hands, compared to its average volume of 2,760,565. Brixmor Property Group has a fifty-two week low of $24.66 and a fifty-two week high of $32.86. The company has a market cap of $9.06 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 2.25 and a beta of 0.97. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s fifty day simple moving average is $28.24 and its two-hundred day simple moving average is $29.52.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.31). The firm had revenue of $359.60 million for the quarter, compared to the consensus estimate of $357.28 million. Brixmor Property Group had a return on equity of 14.10% and a net margin of 29.96%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.56 earnings per share. As a group, analysts forecast that Brixmor Property Group will post 2.37 earnings per share for the current fiscal year.

Institutional Trading of Brixmor Property Group

Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its position in Brixmor Property Group by 5.2% in the 3rd quarter. GAMMA Investing LLC now owns 8,450 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 416 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of Brixmor Property Group by 103.7% in the second quarter. Parkside Financial Bank & Trust now owns 876 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 446 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Brixmor Property Group by 34.7% in the third quarter. Versant Capital Management Inc now owns 1,753 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 452 shares during the last quarter. Private Advisor Group LLC increased its position in Brixmor Property Group by 9.7% during the first quarter. Private Advisor Group LLC now owns 8,863 shares of the real estate investment trust’s stock worth $255,000 after acquiring an additional 783 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in Brixmor Property Group during the second quarter worth $26,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

About Brixmor Property Group

Brixmor Property Group Inc (NYSE: BRX) is a real estate investment trust that owns and operates open-air shopping centers across the United States. Its portfolio is primarily focused on grocery-anchored community and neighborhood centers located in established, densely populated markets.

The company leases retail space to a diverse mix of tenants, including grocery stores, restaurants, service businesses, health and wellness providers, and other essential retailers. Brixmor also manages property operations and pursues redevelopment, re-tenanting, and leasing initiatives designed to enhance the functionality and long-term value of its shopping centers.

Brixmor became a publicly traded company in 2013 after being separated from an ownership structure associated with Blackstone.