Mizuho upgraded shares of Brixmor Property Group Inc. (NYSE:BRX) from a neutral rating to a buy rating in a research note released on Monday morning, Marketbeat reports. They currently have $22.00 target price on the real estate investment trust’s stock.
Several other equities analysts have also weighed in on the company. Barclays PLC reaffirmed a hold rating and issued a $22.00 price objective on shares of Brixmor Property Group in a research note on Monday. Citigroup Inc. lifted their price objective on Brixmor Property Group from $19.00 to $20.00 and gave the stock a neutral rating in a report on Monday, August 7th. Zacks Investment Research upgraded Brixmor Property Group from a sell rating to a hold rating in a report on Friday, August 4th. Boenning Scattergood restated a hold rating on shares of Brixmor Property Group in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reiterated a hold rating and issued a $23.00 price target on shares of Brixmor Property Group in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Brixmor Property Group presently has an average rating of Hold and a consensus target price of $25.55.
Brixmor Property Group (NYSE:BRX) opened at 19.10 on Monday. Brixmor Property Group has a 12 month low of $17.35 and a 12 month high of $29.14. The stock’s 50 day moving average is $18.95 and its 200 day moving average is $20.34. The firm has a market cap of $5.82 billion, a PE ratio of 19.57 and a beta of 0.53.
Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. Brixmor Property Group had a return on equity of 10.22% and a net margin of 23.06%. The firm had revenue of $322.80 million for the quarter, compared to analyst estimates of $315.69 million. During the same period last year, the company earned $0.50 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities analysts forecast that Brixmor Property Group will post $0.86 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Thursday, October 5th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.04 annualized dividend and a yield of 5.45%. Brixmor Property Group’s payout ratio is 106.12%.
In other news, insider James M. Taylor, Jr. purchased 15,600 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was purchased at an average price of $19.24 per share, with a total value of $300,144.00. Following the acquisition, the insider now directly owns 224,793 shares in the company, valued at approximately $4,325,017.32. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.27% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Brixmor Property Group by 2,015.3% in the first quarter. BlackRock Inc. now owns 21,523,219 shares of the real estate investment trust’s stock worth $461,888,000 after buying an additional 20,505,706 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Brixmor Property Group by 122.5% in the first quarter. Bank of New York Mellon Corp now owns 3,533,889 shares of the real estate investment trust’s stock worth $75,840,000 after buying an additional 1,945,697 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Brixmor Property Group by 50.6% in the first quarter. Nuveen Asset Management LLC now owns 4,610,796 shares of the real estate investment trust’s stock worth $98,948,000 after buying an additional 1,549,548 shares in the last quarter. First Manhattan Co. boosted its stake in Brixmor Property Group by 399.3% in the second quarter. First Manhattan Co. now owns 1,537,970 shares of the real estate investment trust’s stock worth $27,498,000 after buying an additional 1,229,970 shares in the last quarter. Finally, State Street Corp boosted its stake in Brixmor Property Group by 12.0% in the second quarter. State Street Corp now owns 10,792,595 shares of the real estate investment trust’s stock worth $192,965,000 after buying an additional 1,159,181 shares in the last quarter.
About Brixmor Property Group
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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