Brixmor Property Group Inc. (BRX) Receives New Coverage from Analysts at BMO Capital Markets
BMO Capital Markets initiated coverage on shares of Brixmor Property Group Inc. (NYSE:BRX) in a research report released on Monday morning. The firm issued a market perform rating and a $20.00 target price on the real estate investment trust’s stock.
BRX has been the topic of a number of other research reports. Citigroup Inc. increased their target price on Brixmor Property Group from $19.00 to $20.00 and gave the company a neutral rating in a research report on Monday, August 7th. Zacks Investment Research lowered Brixmor Property Group from a hold rating to a sell rating in a research report on Tuesday, July 18th. Royal Bank Of Canada reiterated a hold rating and set a $23.00 target price on shares of Brixmor Property Group in a research report on Wednesday, August 2nd. Mizuho upgraded Brixmor Property Group from a neutral rating to a buy rating and set a $22.00 target price on the stock in a research report on Monday, August 14th. Finally, Barclays PLC decreased their target price on 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $24.06.
Brixmor Property Group (NYSE BRX) traded up 0.441% during midday trading on Monday, hitting $19.365. 275,695 shares of the stock traded hands. The firm has a market cap of $5.91 billion, a PE ratio of 19.841 and a beta of 0.54. Brixmor Property Group has a 12 month low of $17.35 and a 12 month high of $29.14. The company’s 50 day moving average price is $19.25 and its 200 day moving average price is $19.71.
Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, July 31st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. Brixmor Property Group had a return on equity of 10.22% and a net margin of 23.06%. The firm had revenue of $322.80 million for the quarter, compared to analyst estimates of $315.69 million. During the same quarter last year, the firm posted $0.50 EPS. The business’s revenue was up 4.1% on a year-over-year basis. Equities research analysts predict that Brixmor Property Group will post $0.86 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Thursday, October 5th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.04 dividend on an annualized basis and a yield of 5.39%. Brixmor Property Group’s payout ratio is currently 106.12%.
In other news, insider James M. Taylor, Jr. acquired 15,600 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were bought at an average price of $19.24 per share, for a total transaction of $300,144.00. Following the acquisition, the insider now owns 224,793 shares of the company’s stock, valued at approximately $4,325,017.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Schreiber acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was purchased at an average price of $18.72 per share, for a total transaction of $187,200.00. Following the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $374,400. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.
A number of hedge funds have recently made changes to their positions in BRX. Pacer Advisors Inc. lifted its holdings in Brixmor Property Group by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 7,129 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 554 shares in the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in Brixmor Property Group in the 1st quarter valued at $131,000. PNC Financial Services Group Inc. lifted its holdings in Brixmor Property Group by 159.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 5,203 shares in the last quarter. LS Investment Advisors LLC lifted its holdings in Brixmor Property Group by 17.5% in the 2nd quarter. LS Investment Advisors LLC now owns 9,557 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 1,420 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in Brixmor Property Group by 58.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 9,603 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 3,538 shares in the last quarter.
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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