Zacks Investment Research Upgrades Brixmor Property Group Inc. (NYSE:BRX) to “Hold”
Zacks Investment Research upgraded shares of Brixmor Property Group Inc. (NYSE:BRX) from a sell rating to a hold rating in a research report report published on Friday morning.
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. “
Other equities analysts have also issued reports about the company. Barclays PLC decreased their target price on Brixmor Property Group from $22.00 to $21.00 and set an equal weight rating for the company in a research report on Tuesday, July 18th. Royal Bank Of Canada reiterated a hold rating and issued a $23.00 price objective on shares of Brixmor Property Group in a research report on Monday, June 19th. Boenning Scattergood reiterated a hold rating on shares of Brixmor Property Group in a research report on Wednesday, August 2nd. ValuEngine lowered Brixmor Property Group from a buy rating to a hold rating in a research report on Friday, June 2nd. Finally, Citigroup Inc. decreased their price objective on Brixmor Property Group from $26.00 to $20.50 and set a neutral rating for the company in a research report on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $26.30.
Brixmor Property Group (NYSE BRX) traded down 0.05% during mid-day trading on Friday, hitting $19.53. 290,010 shares of the stock were exchanged. The stock has a market capitalization of $5.96 billion, a P/E ratio of 20.01 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. The firm has a 50-day moving average price of $18.58 and a 200-day moving average price of $20.68.
Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, July 31st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. The company 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%. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS. Equities analysts predict that Brixmor Property Group will post $0.87 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Thursday, October 5th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.04 annualized dividend and a dividend yield of 5.32%. Brixmor Property Group’s dividend payout ratio is presently 106.12%.
In other news, Director John Schreiber purchased 10,000 shares of Brixmor Property Group stock in a transaction on Thursday, May 11th. The stock was purchased at an average price of $18.85 per share, with a total value of $188,500.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $188,500. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.27% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware purchased a new position in Brixmor Property Group during the first quarter worth $131,000. Pacer Advisors Inc. increased its position in Brixmor Property Group by 3.3% in the first quarter. Pacer Advisors Inc. now owns 6,575 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 209 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in Brixmor Property Group by 4.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 8,116 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 341 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Brixmor Property Group by 38.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 9,300 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 2,600 shares during the period. Finally, Laurion Capital Management LP purchased a new position in Brixmor Property Group during the first quarter worth $204,000.
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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