Brixmor Property Group (BRX) Cut to Sell at Zacks Investment Research
Zacks Investment Research downgraded shares of Brixmor Property Group (NYSE:BRX) from a hold rating to a sell rating in a research report released on Tuesday 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. “
A number of other equities research analysts have also recently issued reports on the company. Mizuho cut Brixmor Property Group from a buy rating to a neutral rating and set a $19.00 price objective on the stock. in a research note on Tuesday, August 21st. BMO Capital Markets restated a hold rating and issued a $16.50 price target on shares of Brixmor Property Group in a research note on Monday, July 30th. Sandler O’Neill cut Brixmor Property Group from a buy rating to a hold rating in a research note on Wednesday, August 1st. ValuEngine upgraded Brixmor Property Group from a strong sell rating to a sell rating in a research note on Thursday, August 2nd. Finally, Stifel Nicolaus increased their price target on Brixmor Property Group from $16.00 to $18.00 and gave the company a hold rating in a research note on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $18.55.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.24). Brixmor Property Group had a return on equity of 10.21% and a net margin of 23.30%. The company had revenue of $313.03 million for the quarter, compared to the consensus estimate of $307.73 million. During the same quarter in the prior year, the company earned $0.53 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, equities analysts expect that Brixmor Property Group will post 2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, October 5th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date was Thursday, October 4th. Brixmor Property Group’s dividend payout ratio (DPR) is presently 52.63%.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Qube Research & Technologies Ltd acquired a new position in Brixmor Property Group in the 2nd quarter valued at $124,000. Spirit of America Management Corp NY grew its holdings in Brixmor Property Group by 143.5% in the 3rd quarter. Spirit of America Management Corp NY now owns 7,975 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 4,700 shares in the last quarter. Private Advisor Group LLC acquired a new position in Brixmor Property Group in the 2nd quarter valued at $201,000. Signition LP acquired a new position in Brixmor Property Group in the 2nd quarter valued at $222,000. Finally, Point72 Hong Kong Ltd acquired a new position in Brixmor Property Group in the 2nd quarter valued at $258,000.
About Brixmor Property Group
Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 471 retail centers comprise approximately 80 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers.
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