Brixmor Property Group Inc. (BRX) Given New $20.00 Price Target at Citigroup Inc.
Brixmor Property Group Inc. (NYSE:BRX) had its target price hoisted by Citigroup Inc. from $19.00 to $20.00 in a research report sent to investors on Monday morning. The firm currently has a neutral rating on the real estate investment trust’s stock.
A number of other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Brixmor Property Group from a sell rating to a hold rating in a research report on Friday. Boenning Scattergood reaffirmed a hold rating on shares of Brixmor Property Group in a research report on Wednesday, August 2nd. Royal Bank Of Canada reaffirmed a hold rating and set a $23.00 target price on shares of Brixmor Property Group in a research report on Wednesday, August 2nd. Barclays PLC reduced their target price on shares of Brixmor Property Group from $22.00 to $21.00 and set an equal weight rating on the stock in a research report on Tuesday, July 18th. Finally, BidaskClub raised shares of Brixmor Property Group from a strong sell rating to a sell rating in a report on Tuesday, June 27th. One 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. Brixmor Property Group currently has an average rating of Hold and a consensus price target of $26.25.
Shares of Brixmor Property Group (NYSE:BRX) traded down 0.381% during mid-day trading on Monday, hitting $19.615. The stock had a trading volume of 305,600 shares. The company’s 50 day moving average is $18.58 and its 200-day moving average is $20.68. The stock has a market cap of $5.98 billion, a P/E ratio of 20.097 and a beta of 0.53. Brixmor Property Group has a 52-week low of $17.35 and a 52-week high of $29.14.
Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, July 31st. The real estate investment trust reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02. The business had revenue of $322.80 million for the quarter, compared to analyst estimates of $315.69 million. Brixmor Property Group had a net margin of 23.06% and a return on equity of 10.22%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. On average, equities research analysts anticipate that Brixmor Property Group will post $0.87 earnings per share for the current fiscal year.
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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 issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 5.28%. The ex-dividend date of this dividend is Wednesday, October 4th. Brixmor Property Group’s payout ratio is 106.12%.
In other news, Director John Schreiber bought 10,000 shares of the stock in a transaction on Thursday, May 11th. The stock was bought at an average cost of $18.85 per share, for a total transaction of $188,500.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $188,500. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Brixmor Property Group by 1.1% in the first quarter. Vanguard Group Inc. now owns 47,200,813 shares of the real estate investment trust’s stock valued at $1,012,929,000 after buying an additional 526,981 shares during the period. BlackRock Inc. increased its stake in shares of Brixmor Property Group by 2,015.3% in the first quarter. BlackRock Inc. now owns 21,523,219 shares of the real estate investment trust’s stock valued at $461,888,000 after buying an additional 20,505,706 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Brixmor Property Group by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 13,138,135 shares of the real estate investment trust’s stock valued at $281,944,000 after buying an additional 797,075 shares during the period. State Street Corp increased its stake in shares of Brixmor Property Group by 3.8% in the first quarter. State Street Corp now owns 9,633,414 shares of the real estate investment trust’s stock valued at $206,723,000 after buying an additional 350,623 shares during the period. Finally, Lasalle Investment Management Securities LLC increased its stake in shares of Brixmor Property Group by 4.3% in the first quarter. Lasalle Investment Management Securities LLC now owns 8,732,564 shares of the real estate investment trust’s stock valued at $187,401,000 after buying an additional 361,710 shares during the period.
About Brixmor Property Group
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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