Brixmor Property Group Inc. (BRX) Sees Strong Trading Volume
Brixmor Property Group Inc. (NYSE:BRX) shares saw strong trading volume on Friday . 8,994,009 shares were traded during trading, an increase of 121% from the previous session’s volume of 4,078,915 shares.The stock last traded at $28.08 and had previously closed at $27.41.
A number of analysts have weighed in on the company. Citigroup Inc. upgraded Brixmor Property Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $28.00 to $31.00 in a report on Friday. Barclays PLC increased their price target on Brixmor Property Group from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 19th. Deutsche Bank AG reiterated a “hold” rating and set a $27.00 price target (up from $26.00) on shares of Brixmor Property Group in a report on Monday, July 18th. Finally, JPMorgan Chase & Co. raised shares of Brixmor Property Group from an “underweight” rating to a “neutral” rating and set a $26.00 price objective on the stock in a research report on Friday, June 3rd. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $27.40.
The firm’s 50-day moving average is $27.35 and its 200 day moving average is $25.62. The firm has a market cap of $8.45 billion and a price-to-earnings ratio of 36.00.
Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. The business earned $295.43 million during the quarter, compared to the consensus estimate of $315.21 million. During the same period in the prior year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts expect that Brixmor Property Group Inc. will post $2.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Wednesday, October 5th will be given a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a dividend yield of 3.49%. The ex-dividend date is Monday, October 3rd.
In other Brixmor Property Group news, major shareholder Real Estate Holding Blackstone sold 20,000,000 shares of the business’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $26.01, for a total value of $520,200,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Steven F. Siegel sold 6,000 shares of the business’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $26.34, for a total transaction of $158,040.00. The disclosure for this sale can be found here.
Other institutional investors have recently added to or reduced their stakes in the company. 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 last quarter. BlackRock Advisors LLC boosted its position in shares of Brixmor Property Group by 26.5% in the fourth quarter. BlackRock Advisors LLC now owns 1,376,837 shares of the real estate investment trust’s stock valued at $35,550,000 after buying an additional 288,373 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Brixmor Property Group by 55.4% in the fourth quarter. Bank of Montreal Can now owns 565,162 shares of the real estate investment trust’s stock valued at $14,592,000 after buying an additional 201,554 shares in the last quarter. Foresters Investment Management Company Inc. boosted its position in shares of 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 valued at $44,969,000 after buying an additional 72,300 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Brixmor Property Group by 12.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 515,000 shares of the real estate investment trust’s stock valued at $13,297,000 after buying an additional 56,000 shares in the last quarter.
Brixmor Property Group Inc and subsidiaries (collectively 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.