Brixmor Property Group (NYSE:BRX) Price Target Raised to $31.00 at Truist Financial

Brixmor Property Group (NYSE:BRX) had its price target lifted by Truist Financial from $28.00 to $31.00 in a research report sent to investors on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the real estate investment trust’s stock.

BRX has been the subject of a number of other reports. Mizuho lifted 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. Compass Point boosted their price objective on Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. StockNews.com lowered Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and issued a $33.00 target price (up from $30.00) on shares of Brixmor Property Group in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus upped 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 investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.13.

Brixmor Property Group Stock Performance

BRX stock opened at $28.83 on Friday. The stock’s 50 day simple moving average is $27.80 and its 200 day simple moving average is $25.24. Brixmor Property Group has a 12-month low of $20.80 and a 12-month high of $29.19. The firm has a market cap of $8.71 billion, a P/E ratio of 26.69, 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 issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. The business had revenue of $320.68 million for the quarter, compared to analyst estimates of $320.22 million. During the same period last year, the company posted $0.50 earnings per share. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. As a group, equities research analysts predict that Brixmor Property Group will post 2.14 EPS for the current year.

Brixmor Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 3.98%. 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 payout ratio is 106.48%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. lifted its position in Brixmor Property Group by 328.6% in the third quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 723 shares during the period. Quarry LP lifted its holdings 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 buying an additional 364 shares during the period. Blue Trust Inc. lifted its holdings in shares of Brixmor Property Group by 258.9% in the second quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 1,007 shares during the period. Maryland Capital Advisors Inc. bought a new position in Brixmor Property Group during the third quarter valued at about $46,000. Finally, Abich Financial Wealth Management LLC grew its holdings in Brixmor Property Group by 50.7% during the first quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 775 shares during the period. 98.43% of the stock is currently owned by institutional investors.

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.