Scotiabank Issues Positive Forecast for Brixmor Property Group (NYSE:BRX) Stock Price

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

A number of other analysts also recently weighed in on BRX. Wells Fargo & Company upped their target price on Brixmor Property Group from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Truist Financial upped their price objective on shares of Brixmor Property Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Mizuho raised their target price on shares of Brixmor Property Group from $23.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, August 19th. KeyCorp boosted their target price on shares of Brixmor Property Group from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus increased 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. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Brixmor Property Group presently has an average rating of “Moderate Buy” and a consensus price target of $29.38.

Brixmor Property Group Price Performance

Shares of Brixmor Property Group stock opened at $30.37 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 4.09 and a beta of 1.57. Brixmor Property Group has a twelve month low of $20.80 and a twelve month high of $30.67. The company has a 50-day simple moving average of $28.09 and a two-hundred day simple moving average of $25.61.

Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.21). The business 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 revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 earnings per share. Analysts forecast that Brixmor Property Group 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. Investors of record on Friday, January 3rd will be paid a $0.287 dividend. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 3rd. This represents a $1.15 annualized dividend and a yield of 3.78%. Brixmor Property Group’s dividend payout ratio is presently 100.93%.

Insider Buying and Selling at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 315,004 shares of the company’s stock, valued at $9,305,218.16. This represents a 7.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Brixmor Property Group

Several hedge funds have recently added to or reduced their stakes in BRX. Tidal Investments LLC bought a new position in shares of Brixmor Property Group during the third quarter valued at $472,000. World Investment Advisors LLC acquired a new stake in Brixmor Property Group in the third quarter valued at $385,000. Sanctuary Advisors LLC bought a new position in Brixmor Property Group during the 3rd quarter worth $577,000. Geode Capital Management LLC lifted its holdings in Brixmor Property Group by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,615,014 shares of the real estate investment trust’s stock worth $156,473,000 after buying an additional 44,485 shares during the period. Finally, Vestcor Inc bought a new stake in shares of Brixmor Property Group in the 3rd quarter valued at about $776,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

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.