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

Brixmor Property Group Inc. (NYSE:BRX)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $28.88 and last traded at $28.78, with a volume of 34443 shares changing hands. The stock had previously closed at $28.33.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Brixmor Property Group from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. JPMorgan Chase & Co. increased their target price on Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Evercore ISI upped their price objective on shares of Brixmor Property Group from $27.00 to $28.00 and gave the company an “in-line” rating in a research report on Monday, September 16th. Finally, Compass Point increased their price target on Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.54.

Brixmor Property Group Stock Up 0.5 %

The firm has a 50-day moving average of $27.58 and a two-hundred day moving average of $24.86. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 4.42 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%. The business had revenue of $320.68 million during the quarter, compared to analyst estimates of $320.22 million. During the same quarter last year, the firm earned $0.50 earnings per share. Brixmor Property Group’s revenue was up 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Brixmor Property Group Inc. will post 2.14 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be paid a $0.287 dividend. This represents a $1.15 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s dividend payout ratio (DPR) is presently 106.48%.

Insider Activity at Brixmor Property Group

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of Brixmor Property Group stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Brixmor Property Group

Institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC bought a new position in shares of Brixmor Property Group in the first quarter valued at about $47,000. PGGM Investments raised its position in Brixmor Property Group by 167.2% in the 2nd quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock worth $86,847,000 after purchasing an additional 2,353,582 shares during the last quarter. 1832 Asset Management L.P. acquired a new position in Brixmor Property Group during the 1st quarter worth $16,964,000. SG Americas Securities LLC boosted its position in Brixmor Property Group by 115.8% in the 1st quarter. SG Americas Securities LLC now owns 136,678 shares of the real estate investment trust’s stock valued at $3,205,000 after buying an additional 73,335 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Brixmor Property Group during the first quarter valued at $124,978,000. 98.43% of the stock is 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.