Brixmor Property Group Inc. (BRX) Hits New 52-Week High at $27.66
Brixmor Property Group Inc. (NYSE:BRX)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $27.66 and last traded at $27.63, with a volume of 683,200 shares. The stock had previously closed at $27.44.
A number of equities research analysts have issued reports on the company. Barclays PLC increased their price target on Brixmor Property Group from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 19th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $27.00 price target (up previously from $26.00) on shares of Brixmor Property Group in a research report on Monday, July 18th. Mizuho assumed coverage on Brixmor Property Group in a research report on Wednesday, April 13th. They issued a “neutral” rating and a $23.00 price target on the stock. Finally, JPMorgan Chase & Co. raised Brixmor Property Group from an “underweight” rating to a “neutral” rating and set a $26.00 price target on the stock in a research report on Friday, June 3rd. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $27.00.
The stock has a 50-day moving average price of $26.45 and a 200-day moving average price of $25.35. The stock has a market cap of $8.25 billion and a PE ratio of 36.99.
Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.02. During the same period last year, the firm posted $0.46 EPS. The firm had revenue of $323.10 million for the quarter, compared to analysts’ expectations of $320.70 million. Brixmor Property Group’s revenue was up 2.5% on a year-over-year basis. Analysts expect that Brixmor Property Group Inc. will post $2.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Wednesday, July 6th were given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Friday, July 1st.
In other Brixmor Property Group news, EVP Steven F. Siegel sold 6,000 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $26.34, for a total transaction of $158,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here.
Several hedge funds and institutional investors recently modified their holdings of BRX. ProShare Advisors LLC boosted its position in shares of Brixmor Property Group by 11.9% in the fourth quarter. ProShare Advisors LLC now owns 61,475 shares of the real estate investment trust’s stock worth $1,587,000 after buying an additional 6,529 shares in the last quarter. Vanguard Group Inc. boosted 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 in the last quarter. Eagle Asset Management boosted its position in shares of 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 in the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Brixmor Property Group by 0.8% in the fourth quarter. Gulf International Bank UK Ltd now owns 63,090 shares of the real estate investment trust’s stock worth $1,629,000 after buying an additional 500 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Brixmor Property Group by 8.4% in the fourth quarter. Rhumbline Advisers now owns 123,933 shares of the real estate investment trust’s stock worth $3,200,000 after buying an additional 9,590 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.