Brixmor Property Group Inc. (BRX) Sets New 52-Week High at $28.97
Brixmor Property Group Inc. (NYSE:BRX)’s share price hit a new 52-week high during mid-day 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 changing hands. The stock had previously closed at $28.50.
Several brokerages have recently issued reports on BRX. Barclays PLC lifted their price objective on Brixmor Property Group from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 19th. Deutsche Bank AG reiterated a “hold” rating and issued a $27.00 price objective (up previously from $26.00) on shares of Brixmor Property Group in a research note on Monday, July 18th. Stifel Nicolaus upgraded Brixmor Property Group from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research note on Monday, August 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. upgraded Brixmor Property Group from an “underweight” rating to a “neutral” rating and set a $26.00 price objective for the company in a research note on Friday, June 3rd. Finally, Evercore ISI upgraded Brixmor Property Group from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research note on Monday, August 22nd. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $28.18.
The stock has a market cap of $8.65 billion and a P/E ratio of 36.82. The company has a 50-day moving average of $27.88 and a 200-day moving average of $25.94.
Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, July 25th. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. The company earned $295.43 million during the quarter, compared to analyst estimates of $315.21 million. Brixmor Property Group’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 EPS. On average, equities research analysts expect that Brixmor Property Group Inc. will post $2.06 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Wednesday, October 5th will be paid a $0.245 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.98 dividend on an annualized basis and a dividend yield of 3.41%.
In other news, EVP Steven F. Siegel sold 6,000 shares of the stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $26.34, for a total value of $158,040.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Brx Holdco Llc sold 42,400,000 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $27.30, for a total value of $1,157,520,000.00. The disclosure for this sale can be found here.
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.
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