Brixmor Property Group (NYSE:BRX) Reaches New 52-Week High on Analyst Upgrade

Shares of Brixmor Property Group Inc. (NYSE:BRX) reached a new 52-week high during mid-day trading on Monday after Truist Financial raised their price target on the stock from $28.00 to $31.00. Truist Financial currently has a buy rating on the stock. Brixmor Property Group traded as high as $29.24 and last traded at $29.20, with a volume of 536040 shares. The stock had previously closed at $28.83.

Several other research firms have also recently commented on BRX. Mizuho boosted their target price on Brixmor Property Group from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $33.00 target price (up previously from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their price target on shares of Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. StockNews.com cut Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Compass Point upped their target price on Brixmor Property Group from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.13.

Institutional Investors Weigh In On Brixmor Property Group

Several institutional investors and hedge funds have recently bought and sold shares of the company. PGGM Investments raised its position in shares of 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 buying an additional 2,353,582 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Brixmor Property Group in the 1st quarter valued at $16,964,000. Boston Partners boosted its holdings in shares of Brixmor Property Group by 1,140.5% in the 1st quarter. Boston Partners now owns 545,367 shares of the real estate investment trust’s stock valued at $12,774,000 after purchasing an additional 501,403 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Brixmor Property Group in the 1st quarter valued at $124,978,000. Finally, Wolverine Asset Management LLC acquired a new position in shares of Brixmor Property Group during the 2nd quarter worth $494,000. Institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Trading Up 1.5 %

The firm has a 50-day moving average of $27.88 and a two-hundred day moving average of $25.34. The firm has a market capitalization of $8.97 billion, a P/E ratio of 27.49, a P/E/G ratio of 3.93 and a beta of 1.57. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85.

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

Brixmor Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.287 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.87%. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 3rd. Brixmor Property Group’s dividend payout ratio (DPR) is 100.93%.

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.