Brixmor Property Group Inc. (BRX) Hits New 52-Week High at $28.69
Shares of Brixmor Property Group Inc. (NYSE:BRX) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $28.69 and last traded at $28.38, with a volume of 1,262,713 shares. The stock had previously closed at $28.32.
A number of research firms have weighed in on BRX. Barclays PLC upped their price target on Brixmor Property Group from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 19th. Evercore ISI raised Brixmor Property Group from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Monday, August 22nd. Deutsche Bank AG raised Brixmor Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $27.00 to $30.00 in a research report on Wednesday, August 17th. Stifel Nicolaus raised Brixmor Property Group from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Monday, August 15th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised Brixmor Property Group from an “underweight” rating to a “neutral” rating and set a $26.00 price target for the company in a research report on Friday, June 3rd. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $28.18.
The firm has a market cap of $8.51 billion and a price-to-earnings ratio of 36.22. The firm’s 50 day moving average price is $27.70 and its 200-day moving average price is $25.76.
Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, July 25th. The real estate investment trust reported $0.50 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.50. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The business earned $295.43 million during the quarter, compared to the consensus estimate of $315.21 million. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, equities analysts expect that Brixmor Property Group Inc. will post $2.06 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Wednesday, October 5th will be issued 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 yield of 3.47%.
In other Brixmor Property Group news, major shareholder Brx Holdco Llc sold 42,400,000 shares of Brixmor Property Group stock in a transaction that occurred on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven F. Siegel sold 6,000 shares of Brixmor Property Group stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $25.32, for a total value of $151,920.00. Following the completion of the sale, the executive vice president now owns 332,072 shares of the company’s stock, valued at $8,408,063.04. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Brixmor Property Group stock. Bank of Montreal Can raised its position in Brixmor Property Group Inc. (NYSE:BRX) by 55.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.
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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