Brixmor Property Group Inc (BRX) Stock Rating Lowered by Zacks Investment Research
Brixmor Property Group Inc (NYSE:BRX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Brixmor Property Group Inc. operates as a real estate investment trust. It owns and operates a portfolio of grocery-anchored community and neighborhood shopping centers primarily in the United States. Brixmor Property Group Inc. is based in United States. “
Several other equities analysts also recently issued reports on the stock. Boenning Scattergood downgraded shares of Brixmor Property Group from an “outperform” rating to a “neutral” rating in a research note on Wednesday, March 22nd. Stifel Nicolaus reduced their price objective on shares of Brixmor Property Group from $30.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, February 14th. Barclays PLC reduced their price objective on shares of Brixmor Property Group from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Monday, January 23rd. Finally, SunTrust Banks, Inc. raised shares of Brixmor Property Group from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Thursday, January 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. Brixmor Property Group presently has a consensus rating of “Hold” and an average target price of $28.17.
Brixmor Property Group (NYSE:BRX) traded up 0.46% during mid-day trading on Tuesday, reaching $21.66. 1,681,845 shares of the company traded hands. Brixmor Property Group has a 52-week low of $20.62 and a 52-week high of $29.14. The stock has a market capitalization of $6.59 billion, a PE ratio of 23.78 and a beta of 0.54. The stock has a 50-day moving average of $21.62 and a 200 day moving average of $23.92.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, February 13th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.20. The firm had revenue of $324 million for the quarter, compared to analysts’ expectations of $322.05 million. Brixmor Property Group had a net margin of 21.60% and a return on equity of 9.51%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. Equities research analysts expect that Brixmor Property Group will post $0.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Wednesday, April 5th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.80%. The ex-dividend date was Monday, April 3rd. Brixmor Property Group’s dividend payout ratio (DPR) is 114.29%.
In related news, EVP Steven F. Siegel sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $24.22, for a total transaction of $145,320.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James M. Taylor, Jr. purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The shares were bought at an average cost of $21.17 per share, with a total value of $105,850.00. Following the transaction, the insider now directly owns 189,893 shares of the company’s stock, valued at approximately $4,020,034.81. The disclosure for this purchase can be found here. Corporate insiders own 0.22% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Brookfield Asset Management Inc. bought a new position in shares of Brixmor Property Group during the third quarter valued at approximately $146,283,000. Norges Bank bought a new position in shares of Brixmor Property Group during the fourth quarter valued at approximately $64,235,000. Russell Investments Group Ltd. bought a new position in shares of Brixmor Property Group during the fourth quarter valued at approximately $52,177,000. BlackRock Institutional Trust Company N.A. raised its position in shares of Brixmor Property Group by 20.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 9,382,077 shares of the real estate investment trust’s stock valued at $260,728,000 after buying an additional 1,620,899 shares during the period. Finally, Commonwealth Bank of Australia raised its position in shares of Brixmor Property Group by 56,045.7% in the third quarter. Commonwealth Bank of Australia now owns 1,235,206 shares of the real estate investment trust’s stock valued at $34,326,000 after buying an additional 1,233,006 shares during the period.
About Brixmor Property Group
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Brixmor Property Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brixmor Property Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.