Brixmor Property Group Inc. (BRX) Reaches New 1-Year High at $27.36
Brixmor Property Group Inc. (NYSE:BRX)’s share price hit a new 52-week high on Monday . The company traded as high as $27.36 and last traded at $27.34, with a volume of 681,158 shares trading hands. The stock had previously closed at $27.00.
A number of equities analysts have weighed in on the stock. Deutsche Bank AG reiterated a “hold” rating on shares of Brixmor Property Group in a report on Saturday, March 19th. Mizuho assumed coverage on shares of Brixmor Property Group in a report on Wednesday, April 13th. They issued a “neutral” rating and a $23.00 price target on the stock. JPMorgan Chase & Co. upgraded shares of Brixmor Property Group from an “underweight” rating to a “neutral” rating and set a $26.00 price target on the stock in a report on Friday, June 3rd. Finally, Credit Suisse Group AG initiated coverage on shares of Brixmor Property Group in a report on Wednesday, March 16th. They set a “neutral” rating and a $27.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $26.78.
The stock has a market cap of $8.17 billion and a PE ratio of 36.66. The stock has a 50 day moving average of $25.88 and a 200-day moving average of $25.23.
Brixmor Property Group (NYSE:BRX) last issued its earnings results on Tuesday, April 26th. The real estate investment trust reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The firm had revenue of $323.10 million for the quarter, compared to analyst estimates of $320.70 million. Brixmor Property Group’s quarterly revenue was up 2.5% on a year-over-year basis. On average, analysts expect that Brixmor Property Group Inc. will post $2.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, July 6th will be issued a dividend of $0.245 per share. The ex-dividend date is Friday, July 1st. This represents a $0.98 dividend on an annualized basis and a yield of 3.63%.
In related news, EVP Steven F. Siegel sold 6,000 shares of the business’s stock in a transaction on Friday, April 29th. The shares were sold at an average price of $25.11, for a total transaction of $150,660.00. Following the transaction, the executive vice president now directly owns 338,072 shares in the company, valued at $8,488,987.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Real Estate Holding Blackstone sold 20,000,000 shares of the business’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $26.01, for a total transaction of $520,200,000.00. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of BRX. Vanguard Group Inc. increased its position in shares of Brixmor Property Group by 6.0% in the fourth quarter. Vanguard Group Inc. now owns 26,550,288 shares of the real estate investment trust’s stock worth $685,527,000 after buying an additional 1,493,493 shares during the last quarter. Foresters Investment Management Company Inc. boosted its position in Brixmor Property Group by 4.3% in the fourth quarter. Foresters Investment Management Company Inc. now owns 1,741,625 shares of the real estate investment trust’s stock worth $44,969,000 after buying an additional 72,300 shares during the period. Eagle Asset Management boosted its position in Brixmor Property Group by 129.9% in the third quarter. Eagle Asset Management now owns 1,081,948 shares of the real estate investment trust’s stock worth $25,404,000 after buying an additional 611,315 shares during the period. Morgan Stanley boosted its position in Brixmor Property Group by 231.0% in the fourth quarter. Morgan Stanley now owns 997,896 shares of the real estate investment trust’s stock worth $25,764,000 after buying an additional 696,419 shares during the period. Finally, Advantus Capital Management Inc boosted its position in Brixmor Property Group by 48.9% in the fourth quarter. Advantus Capital Management Inc now owns 593,400 shares of the real estate investment trust’s stock worth $15,322,000 after buying an additional 194,800 shares during the period.
Brixmor Property Group Inc (BPG) is an internally managed real estate investment trust (REIT). Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership) is the entity through which BPG conducts its operations and owns its assets. BPG owns 100% of the common stock of BPG Subsidiary Inc (BPG Sub), which is the sole member of Brixmor OP GP LLC (the General Partner), the sole general partner of the Operating Partnership.
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