Truist Financial Reaffirms “Buy” Rating for Brixmor Property Group (NYSE:BRX)

Truist Financial reaffirmed their buy rating on shares of Brixmor Property Group (NYSE:BRX) in a report released on Monday, Benzinga reports. Truist Financial currently has a $25.00 target price on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus lifted their price objective on Brixmor Property Group from $22.75 to $24.00 and gave the company a hold rating in a research note on Tuesday, February 13th. Mizuho reaffirmed a neutral rating and issued a $24.00 price objective (up from $23.00) on shares of Brixmor Property Group in a research note on Friday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on Brixmor Property Group in a research note on Tuesday, January 30th. They issued a buy rating and a $27.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $25.38.

Brixmor Property Group Price Performance

NYSE:BRX opened at $23.27 on Monday. Brixmor Property Group has a 52 week low of $19.40 and a 52 week high of $24.47. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $7.01 billion, a P/E ratio of 23.04, a P/E/G ratio of 2.70 and a beta of 1.53. The stock’s fifty day moving average is $22.66 and its two-hundred day moving average is $22.09.

Brixmor Property Group (NYSE:BRX) last posted its earnings results on Tuesday, February 13th. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.27). Brixmor Property Group had a net margin of 24.50% and a return on equity of 10.63%. The business had revenue of $316.49 million during the quarter, compared to analysts’ expectations of $311.77 million. During the same quarter in the prior year, the firm earned $0.49 EPS. Brixmor Property Group’s revenue for the quarter was up 2.6% compared to the same quarter last year. Equities analysts expect that Brixmor Property Group will post 2.08 EPS for the current year.

Brixmor Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Tuesday, April 2nd will be paid a dividend of $0.273 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.69%. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, April 1st. Brixmor Property Group’s dividend payout ratio is 107.92%.

Insider Transactions at Brixmor Property Group

In other news, Director Michael B. Berman sold 10,475 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $22.82, for a total transaction of $239,039.50. Following the completion of the transaction, the director now directly owns 40,556 shares of the company’s stock, valued at approximately $925,487.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Michael B. Berman sold 10,475 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $22.82, for a total value of $239,039.50. Following the sale, the director now owns 40,556 shares in the company, valued at approximately $925,487.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian T. Finnegan sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $23.00, for a total value of $172,500.00. Following the completion of the sale, the insider now owns 225,051 shares in the company, valued at approximately $5,176,173. The disclosure for this sale can be found here. In the last three months, insiders sold 25,475 shares of company stock valued at $585,990. Corporate insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Brixmor Property Group

A number of large investors have recently bought and sold shares of the stock. Quadrature Capital Ltd acquired a new stake in Brixmor Property Group during the 4th quarter valued at $823,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Brixmor Property Group in the 4th quarter worth $4,445,000. Wellington Management Group LLP raised its position in shares of Brixmor Property Group by 3.7% in the 4th quarter. Wellington Management Group LLP now owns 10,915,844 shares of the real estate investment trust’s stock worth $254,012,000 after buying an additional 394,158 shares during the period. Quarry LP purchased a new position in shares of Brixmor Property Group in the 4th quarter worth $40,000. Finally, FIL Ltd raised its position in shares of Brixmor Property Group by 1.4% in the 4th quarter. FIL Ltd now owns 182,481 shares of the real estate investment trust’s stock worth $4,246,000 after buying an additional 2,500 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

Brixmor Property Group Company Profile

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 362 retail centers comprise approximately 64 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.