Brixmor Property Group Inc. (BRX) Sets New 12-Month High at $28.69
Brixmor Property Group Inc. (NYSE:BRX) shares reached a new 52-week high on Friday . The company traded as high as $28.69 and last traded at $28.38, with a volume of 1,262,713 shares trading hands. The stock had previously closed at $28.32.
A number of research analysts have weighed in on the stock. Barclays PLC boosted their price objective on shares of 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. JPMorgan Chase & Co. upgraded 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. Deutsche Bank AG upgraded shares of Brixmor Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $27.00 to $30.00 in a research report on Wednesday, August 17th. Stifel Nicolaus upgraded shares of Brixmor Property Group from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Monday, August 15th. They noted that the move was a valuation call. Finally, Citigroup Inc. upgraded shares of Brixmor Property Group from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $28.00 to $31.00 in a research report on Friday, August 12th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.18.
The firm has a 50 day moving average price of $27.65 and a 200-day moving average price of $25.71. The firm has a market capitalization of $8.51 billion and a P/E ratio of 36.214.
Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. During the same quarter in the prior year, the firm earned $0.49 EPS. The company had revenue of $295.43 million for the quarter, compared to analysts’ expectations of $315.21 million. The firm’s revenue was down .6% on a year-over-year basis. On average, equities research analysts anticipate that Brixmor Property Group Inc. will post $2.06 EPS for the current year.
The business also recently declared 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 3.46%.
In related news, EVP Steven F. Siegel sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $25.32, for a total transaction of $151,920.00. Following the completion of the sale, the executive vice president now directly owns 332,072 shares of the company’s stock, valued at approximately $8,408,063.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Brx Holdco Llc sold 42,400,000 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was 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.
An institutional investor recently raised its position in Brixmor Property Group stock. BlackRock Advisors LLC raised its position in Brixmor Property Group Inc. (NYSE:BRX) by 26.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,376,837 shares of the real estate investment trust’s stock after buying an additional 288,373 shares during the period. BlackRock Advisors LLC owned 0.46% of Brixmor Property Group worth $35,550,000 as of its most recent filing with the SEC.
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.