Scotiabank Raises Brixmor Property Group (NYSE:BRX) Price Target to $32.00

Brixmor Property Group (NYSE:BRX) had its price target upped by Scotiabank from $29.00 to $32.00 in a research note released on Monday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the company. Stifel Nicolaus lifted their price target on Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a research report on Tuesday, October 29th. Piper Sandler reissued an “overweight” rating and issued a $33.00 price target (up from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. Compass Point increased their target price on shares of Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Truist Financial raised their target price on shares of Brixmor Property Group from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Mizuho increased their price objective on Brixmor Property Group from $23.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Brixmor Property Group presently has an average rating of “Moderate Buy” and an average price target of $29.38.

Brixmor Property Group Price Performance

Shares of NYSE BRX opened at $30.37 on Monday. The stock has a market cap of $9.17 billion, a P/E ratio of 28.12, a P/E/G ratio of 4.09 and a beta of 1.57. The firm’s 50-day simple moving average is $28.14 and its 200 day simple moving average is $25.65. Brixmor Property Group has a fifty-two week low of $20.80 and a fifty-two week high of $30.67. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.85.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). The company had revenue of $320.68 million for the quarter, compared to the consensus estimate of $320.22 million. Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share. Equities analysts expect that Brixmor Property Group will post 2.14 EPS for the current year.

Brixmor Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be paid a $0.287 dividend. This represents a $1.15 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Friday, January 3rd. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s payout ratio is presently 100.93%.

Insider Buying and Selling

In related news, insider Steven F. Siegel sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.54, for a total value of $738,500.00. Following the completion of the sale, the insider now directly owns 315,004 shares in the company, valued at approximately $9,305,218.16. The trade was a 7.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Brixmor Property Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BRX. UMB Bank n.a. boosted its holdings in shares of Brixmor Property Group by 328.6% during the 3rd quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 723 shares during the period. Blue Trust Inc. boosted its holdings in Brixmor Property Group by 258.9% during the second quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,007 shares during the period. Quarry LP grew its position in shares of Brixmor Property Group by 36.3% in the third quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 364 shares during the last quarter. Maryland Capital Advisors Inc. bought a new position in shares of Brixmor Property Group in the third quarter worth about $46,000. Finally, Abich Financial Wealth Management LLC lifted its position in shares of Brixmor Property Group by 50.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 775 shares during the last quarter. 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.