Brixmor Property Group (NYSE:BRX)‘s stock had its “buy” rating reiterated by investment analysts at Boenning Scattergood in a research report issued on Thursday. They presently have a $22.00 price objective on the real estate investment trust’s stock. Boenning Scattergood’s target price points to a potential upside of 25.28% from the stock’s current price.
Other analysts have also issued reports about the company. Mizuho reissued a “buy” rating and set a $19.50 price target on shares of Brixmor Property Group in a research note on Friday, November 10th. ValuEngine raised Brixmor Property Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. KeyCorp reissued a “hold” rating on shares of Brixmor Property Group in a research note on Friday, August 25th. Barclays reissued a “hold” rating and set a $22.00 price target on shares of Brixmor Property Group in a research note on Monday, August 14th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $22.00 price objective on shares of Brixmor Property Group in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $22.00.
Shares of Brixmor Property Group (BRX) traded down $0.56 during mid-day trading on Thursday, hitting $17.56. The stock had a trading volume of 2,929,300 shares, compared to its average volume of 2,849,417. Brixmor Property Group has a 12-month low of $17.23 and a 12-month high of $25.34. The firm has a market capitalization of $5,525.46, a price-to-earnings ratio of 8.59, a price-to-earnings-growth ratio of 1.95 and a beta of 0.52. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.96.
Brixmor Property Group declared that its board has approved a share buyback program on Tuesday, December 5th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
In related news, EVP Mark Horgan acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were bought at an average cost of $17.64 per share, with a total value of $52,920.00. Following the completion of the purchase, the executive vice president now directly owns 56,703 shares in the company, valued at $1,000,240.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of BRX. Fuller & Thaler Asset Management Inc. acquired a new position in Brixmor Property Group in the third quarter valued at approximately $100,000. Pacer Advisors Inc. lifted its stake in Brixmor Property Group by 8.4% in the second quarter. Pacer Advisors Inc. now owns 7,129 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 554 shares during the period. Meeder Asset Management Inc. lifted its stake in Brixmor Property Group by 621.1% in the third quarter. Meeder Asset Management Inc. now owns 7,947 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 6,845 shares during the period. PNC Financial Services Group Inc. lifted its stake in Brixmor Property Group by 159.5% in the second quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 5,203 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its stake in Brixmor Property Group by 58.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 9,603 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 3,538 shares during the period. 98.57% of the stock is currently owned by hedge funds and other institutional investors.
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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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