The Goldman Sachs Group Increases Brixmor Property Group (NYSE:BRX) Price Target to $29.00

Brixmor Property Group (NYSE:BRX) had its price target upped by The Goldman Sachs Group from $26.00 to $29.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 13.59% from the company’s previous close.

BRX has been the subject of several other reports. Evercore ISI raised Brixmor Property Group to a “hold” rating in a report on Tuesday. StockNews.com lowered Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Monday. JPMorgan Chase & Co. increased their price objective on Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday. Piper Sandler reissued an “overweight” rating and set a $33.00 price objective (up from $30.00) on shares of Brixmor Property Group in a report on Wednesday. Finally, Wells Fargo & Company reduced their price objective on Brixmor Property Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, May 28th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Brixmor Property Group currently has an average rating of “Moderate Buy” and a consensus price target of $26.75.

Brixmor Property Group Stock Performance

Shares of BRX traded up $0.06 on Thursday, reaching $25.53. 888,261 shares of the company’s stock traded hands, compared to its average volume of 2,362,328. The company has a current ratio of 1.50, a quick ratio of 1.45 and a debt-to-equity ratio of 1.88. The stock has a market cap of $7.69 billion, a PE ratio of 27.45, a PEG ratio of 4.59 and a beta of 1.57. The stock’s 50 day simple moving average is $23.02 and its two-hundred day simple moving average is $22.62. Brixmor Property Group has a 52-week low of $19.46 and a 52-week high of $26.41.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The business had revenue of $315.69 million for the quarter, compared to analysts’ expectations of $317.75 million. Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 earnings per share. On average, analysts forecast that Brixmor Property Group will post 2.12 earnings per share for the current fiscal year.

Insider Activity at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel 10,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Brixmor Property Group

A number of large investors have recently added to or reduced their stakes in BRX. Vanguard Group Inc. increased its holdings in shares of Brixmor Property Group by 0.4% in the first quarter. Vanguard Group Inc. now owns 45,662,863 shares of the real estate investment trust’s stock worth $1,070,794,000 after buying an additional 165,572 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Brixmor Property Group by 16.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 14,985,745 shares of the real estate investment trust’s stock worth $348,718,000 after buying an additional 2,067,135 shares during the period. Wellington Management Group LLP increased its holdings in shares of Brixmor Property Group by 3.7% in the fourth 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. Centersquare Investment Management LLC increased its holdings in shares of Brixmor Property Group by 13.6% in the fourth quarter. Centersquare Investment Management LLC now owns 8,467,936 shares of the real estate investment trust’s stock worth $197,049,000 after buying an additional 1,016,209 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Brixmor Property Group in the first quarter worth about $124,978,000. Hedge funds and other institutional investors 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.