Scotiabank Increases Brixmor Property Group (NYSE:BRX) Price Target to $29.00

Brixmor Property Group (NYSE:BRX) had its target price raised by Scotiabank from $25.00 to $29.00 in a report released on Monday, Benzinga reports. The firm presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price objective suggests a potential upside of 6.46% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Truist Financial boosted their target price on shares of Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 16th. StockNews.com cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. KeyCorp lifted their price target on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, 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 report on Monday, August 19th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Brixmor Property Group presently has a consensus rating of “Moderate Buy” and an average price target of $27.86.

Brixmor Property Group Price Performance

Shares of Brixmor Property Group stock traded up $0.12 during mid-day trading on Monday, reaching $27.24. 110,667 shares of the stock traded hands, compared to its average volume of 2,325,292. The stock has a market capitalization of $8.21 billion, a PE ratio of 29.33, a PEG ratio of 4.43 and a beta of 1.57. The business has a 50-day moving average of $24.22 and a 200 day moving average of $23.00. Brixmor Property Group has a fifty-two week low of $19.46 and a fifty-two week high of $27.36. The company has a quick ratio of 1.45, a current ratio of 1.50 and a debt-to-equity ratio of 1.88.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The firm had revenue of $315.69 million during the quarter, compared to analysts’ expectations of $317.75 million. Brixmor Property Group had a net margin of 23.45% and a return on equity of 10.34%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. On average, analysts predict that Brixmor Property Group will post 2.12 EPS for the current year.

Insider Transactions at Brixmor Property Group

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total value of $127,250.00. Following the sale, the director now directly owns 46,291 shares of the company’s stock, valued at approximately $1,178,105.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of Brixmor Property Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total transaction of $127,250.00. Following the completion of the sale, the director now directly owns 46,291 shares of the company’s stock, valued at approximately $1,178,105.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven F. Siegel sold 10,000 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the transaction, the insider now owns 360,004 shares in the company, valued at approximately $8,640,096. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Blue Trust Inc. boosted 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 acquiring an additional 1,007 shares during the period. Quarry LP acquired a new position in Brixmor Property Group in the 4th quarter valued at $40,000. GAMMA Investing LLC purchased a new position in Brixmor Property Group during the 4th quarter worth $45,000. Larson Financial Group LLC purchased a new position in Brixmor Property Group during the 1st quarter worth $47,000. Finally, Abich Financial Wealth Management LLC lifted its stake in shares of Brixmor Property Group by 50.7% in the 1st 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. Institutional investors and hedge funds own 98.43% of the company’s stock.

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.