Brixmor Property Group (NYSE:BRX) Hits New 12-Month High at $27.70

Brixmor Property Group Inc. (NYSE:BRX)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $27.70 and last traded at $27.63, with a volume of 115754 shares traded. The stock had previously closed at $27.37.

Analysts Set New Price Targets

Several brokerages recently commented on BRX. Wells Fargo & Company increased their price objective on shares of Brixmor Property Group from $24.00 to $28.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 28th. The Goldman Sachs Group upped their price objective on Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Mizuho raised their target price on Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Finally, StockNews.com downgraded Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.13.

Brixmor Property Group Price Performance

The business has a fifty day simple moving average of $25.18 and a 200-day simple moving average of $23.30. The stock has a market capitalization of $8.19 billion, a P/E ratio of 29.22, a PEG ratio of 4.79 and a beta of 1.57. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.50 and a current ratio of 1.50.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.29). The company had revenue of $315.69 million during the quarter, compared to the consensus estimate of $317.75 million. Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $0.52 earnings per share. Sell-side analysts expect that Brixmor Property Group Inc. will post 2.13 earnings per share for the current fiscal year.

Brixmor Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Wednesday, October 2nd will be issued a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Wednesday, October 2nd. Brixmor Property Group’s dividend payout ratio is currently 117.20%.

Insiders Place Their Bets

In other news, insider Steven F. Siegel sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the sale, the insider now directly owns 360,004 shares of the company’s stock, valued at $8,640,096. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Steven F. Siegel sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the sale, the insider now owns 360,004 shares in the company, valued at $8,640,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sheryl Maxwell Crosland sold 5,000 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total value of $127,250.00. Following the completion of the sale, the director now directly owns 46,291 shares of the company’s stock, valued at $1,178,105.95. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Brixmor Property Group

Institutional investors have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board purchased a new position in shares of Brixmor Property Group in the 1st quarter worth approximately $124,978,000. Norges Bank purchased a new position in Brixmor Property Group in the fourth quarter worth $73,143,000. PGGM Investments grew its stake in Brixmor Property Group by 167.2% in the 2nd quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock valued at $86,847,000 after purchasing an additional 2,353,582 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in shares of Brixmor Property Group during the 2nd quarter valued at $49,546,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Brixmor Property Group by 16.0% in the 4th 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 last quarter. 98.43% of the stock is owned by institutional investors.

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 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.