Brixmor Property Group Inc. (BRX) Sets New 1-Year High at $28.97
Brixmor Property Group Inc. (NYSE:BRX) shares reached a new 52-week high during trading on Friday . The stock traded as high as $28.97 and last traded at $28.61, with a volume of 1,149,149 shares. The stock had previously closed at $28.50.
Several research analysts recently commented on the stock. Barclays PLC raised their price objective on shares of Brixmor Property Group from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 19th. JPMorgan Chase & Co. raised shares of Brixmor Property Group from an “underweight” rating to a “neutral” rating and set a $26.00 price objective for the company in a report on Friday, June 3rd. Deutsche Bank AG reaffirmed a “hold” rating and issued a $26.00 price objective on shares of Brixmor Property Group in a report on Sunday, May 22nd. Stifel Nicolaus raised shares of Brixmor Property Group from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Monday, August 15th. They noted that the move was a valuation call. Finally, Citigroup Inc. raised shares of Brixmor Property Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $28.00 to $31.00 in a report on Friday, August 12th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Brixmor Property Group currently has an average rating of “Hold” and a consensus target price of $28.18.
The firm’s 50 day moving average is $27.85 and its 200-day moving average is $25.94. The company has a market cap of $8.62 billion and a PE ratio of 36.712.
Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The company had revenue of $295.43 million for the quarter, compared to analysts’ expectations of $315.21 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts expect that Brixmor Property Group Inc. will post $2.06 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Wednesday, October 5th will be issued a dividend of $0.245 per share. The ex-dividend date is Monday, October 3rd. This represents a $0.98 annualized dividend and a dividend yield of 3.44%.
In other news, major shareholder Real Estate Holding Blackstone sold 20,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $26.01, for a total transaction of $520,200,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven F. Siegel sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $28.39, for a total transaction of $170,340.00. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Brixmor Property Group stock. Bank of Montreal Can increased its stake in shares of Brixmor Property Group Inc. (NYSE:BRX) by 55.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 565,162 shares of the real estate investment trust’s stock after buying an additional 201,554 shares during the period. Bank of Montreal Can owned about 0.19% of Brixmor Property Group worth $14,592,000 as of its most recent SEC filing.
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.