Brixmor Property Group (NYSE:BRX) Sets New 12-Month High – Here’s What Happened

Shares of Brixmor Property Group Inc. (NYSE:BRX) reached a new 52-week high on Monday . The company traded as high as $28.46 and last traded at $28.28, with a volume of 282247 shares trading hands. The stock had previously closed at $28.35.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Truist Financial raised their price target on shares of Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and set a $33.00 price target (up previously from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. KeyCorp upped their price objective on Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Compass Point lifted their price target on shares of Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group upped their price target on shares of Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.38.

Brixmor Property Group Stock Performance

The firm has a market cap of $8.42 billion, a PE ratio of 30.04, a price-to-earnings-growth ratio of 4.43 and a beta of 1.57. The business has a 50 day simple moving average of $27.34 and a two-hundred day simple moving average of $24.43. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.88.

Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The business had revenue of $315.69 million for 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 period last year, the business posted $0.52 EPS. As a group, equities research analysts forecast that Brixmor Property Group Inc. will post 2.13 earnings per share for the current fiscal year.

Brixmor Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd were given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Wednesday, October 2nd. Brixmor Property Group’s payout ratio is presently 117.20%.

Insiders Place Their Bets

In related 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 owns 46,291 shares of the company’s stock, valued at $1,178,105.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Brixmor Property Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new stake in Brixmor Property Group during the 1st quarter worth approximately $124,978,000. PGGM Investments lifted its holdings in Brixmor Property Group by 167.2% during the 2nd quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock worth $86,847,000 after buying an additional 2,353,582 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Brixmor Property Group in the second quarter valued at $49,546,000. Millennium Management LLC boosted its stake in shares of Brixmor Property Group by 35.5% in the 2nd quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust’s stock valued at $132,443,000 after buying an additional 1,501,282 shares during the period. Finally, 1832 Asset Management L.P. acquired a new position in Brixmor Property Group during the 1st quarter worth approximately $16,964,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

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.