Truist Financial Lowers Brixmor Property Group (NYSE:BRX) Price Target to $26.00

Brixmor Property Group (NYSE:BRXGet Rating) had its target price reduced by Truist Financial from $29.00 to $26.00 in a report issued on Tuesday morning, The Fly reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

BRX has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Brixmor Property Group from $27.00 to $28.00 and gave the stock a hold rating in a report on Thursday, March 31st. StockNews.com initiated coverage on shares of Brixmor Property Group in a report on Thursday, March 31st. They issued a hold rating on the stock. TheStreet cut shares of Brixmor Property Group from a b- rating to a c+ rating in a report on Monday, May 23rd. Wells Fargo & Company lifted their price target on shares of Brixmor Property Group from $24.00 to $26.00 and gave the company an equal weight rating in a report on Thursday, April 7th. Finally, Piper Sandler cut their price target on shares of Brixmor Property Group to $28.00 in a report on Friday, May 20th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $26.57.

Shares of Brixmor Property Group stock opened at $20.36 on Tuesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.65 and a current ratio of 0.65. Brixmor Property Group has a 52-week low of $19.42 and a 52-week high of $27.19. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 1.39 and a beta of 1.52. The company’s 50 day moving average price is $23.56 and its 200-day moving average price is $24.56.

Brixmor Property Group (NYSE:BRXGet Rating) last issued its earnings results on Monday, May 2nd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. Brixmor Property Group had a net margin of 25.39% and a return on equity of 10.92%. During the same period in the previous year, the business earned $0.44 EPS. As a group, equities research analysts forecast that Brixmor Property Group will post 1.94 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Tuesday, July 5th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Friday, July 1st. Brixmor Property Group’s dividend payout ratio (DPR) is 97.96%.

In other Brixmor Property Group news, insider Brian T. Finnegan sold 5,000 shares of the business’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $25.14, for a total transaction of $125,700.00. Following the completion of the sale, the insider now directly owns 145,682 shares in the company, valued at approximately $3,662,445.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven F. Siegel sold 20,000 shares of the business’s stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $26.00, for a total value of $520,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 50,000 shares of company stock valued at $1,304,900. 0.64% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP grew its stake in shares of Brixmor Property Group by 123.0% during the 4th quarter. Allworth Financial LP now owns 1,155 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 637 shares during the period. Prospera Financial Services Inc bought a new position in shares of Brixmor Property Group during the 1st quarter valued at approximately $43,000. Brown Brothers Harriman & Co. bought a new position in shares of Brixmor Property Group during the 1st quarter valued at approximately $43,000. Covestor Ltd grew its stake in shares of Brixmor Property Group by 170.2% during the 1st quarter. Covestor Ltd now owns 1,840 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 1,159 shares during the period. Finally, Ellevest Inc. grew its stake in shares of Brixmor Property Group by 205.5% during the 1st quarter. Ellevest Inc. now owns 1,894 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 1,274 shares during the period. Institutional investors and hedge funds own 98.35% of the company’s stock.

About Brixmor Property Group (Get Rating)

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 395 retail centers comprise approximately 69 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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