Brixmor Property Group’s (NYSE:BRX) “Hold” Rating Reiterated at Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their hold rating on shares of Brixmor Property Group Inc. (NYSE:BRX) in a report published on Wednesday morning. They currently have a $23.00 target price on the real estate investment trust’s stock.
BRX has been the subject of a number of other reports. Zacks Investment Research upgraded Brixmor Property Group from a sell rating to a hold rating in a report on Thursday, April 27th. Barclays PLC decreased their price target on Brixmor Property Group from $22.00 to $21.00 and set an equal weight rating for the company in a report on Tuesday, July 18th. Citigroup Inc. decreased their price target on Brixmor Property Group from $26.00 to $20.50 and set a neutral rating for the company in a report on Tuesday, May 9th. ValuEngine downgraded Brixmor Property Group from a buy rating to a hold rating in a report on Friday, June 2nd. Finally, BidaskClub raised Brixmor Property Group from a strong sell rating to a sell rating in a report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $26.30.
Brixmor Property Group (NYSE BRX) opened at 19.54 on Wednesday. The company’s 50-day moving average price is $18.58 and its 200 day moving average price is $20.68. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 20.02 and a beta of 0.53. Brixmor Property Group has a 12 month low of $17.35 and a 12 month high of $29.14.
Brixmor Property Group (NYSE:BRX) last released its earnings results on Monday, July 31st. 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. The firm had revenue of $322.80 million during the quarter, compared to analyst estimates of $315.69 million. Brixmor Property Group had a return on equity of 10.22% and a net margin of 23.06%. Brixmor Property Group’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. Analysts predict that Brixmor Property Group will post $0.87 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Thursday, October 5th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date is Wednesday, October 4th. Brixmor Property Group’s dividend payout ratio (DPR) is 106.12%.
In other news, insider James M. Taylor, Jr. bought 5,300 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were acquired at an average price of $18.77 per share, for a total transaction of $99,481.00. Following the completion of the transaction, the insider now owns 209,193 shares of the company’s stock, valued at $3,926,552.61. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Schreiber bought 10,000 shares of the business’s stock in a transaction dated Thursday, May 11th. The shares were purchased at an average price of $18.85 per share, for a total transaction of $188,500.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $188,500. The disclosure for this purchase can be found here. Insiders have bought 16,300 shares of company stock worth $305,831 in the last quarter. Insiders own 0.27% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Federated Investors Inc. PA boosted its stake in Brixmor Property Group by 9.1% in the second quarter. Federated Investors Inc. PA now owns 20,021 shares of the real estate investment trust’s stock worth $358,000 after buying an additional 1,670 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Brixmor Property Group by 126.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 253,279 shares of the real estate investment trust’s stock worth $4,529,000 after buying an additional 141,256 shares during the period. Marshall Wace North America L.P. boosted its stake in Brixmor Property Group by 399.9% in the second quarter. Marshall Wace North America L.P. now owns 615,300 shares of the real estate investment trust’s stock worth $11,075,000 after buying an additional 492,223 shares during the period. ALGEBRIS UK Ltd purchased a new stake in Brixmor Property Group during the second quarter worth approximately $6,822,000. Finally, KBC Group NV boosted its stake in Brixmor Property Group by 18.1% in the second quarter. KBC Group NV now owns 381,619 shares of the real estate investment trust’s stock worth $6,824,000 after buying an additional 58,620 shares during the period.
Brixmor Property Group Company Profile
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.
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