Brixmor Property Group (NYSE:BRX) Price Target Raised to $32.00

Brixmor Property Group (NYSE:BRX) had its price target upped by stock analysts at Scotiabank from $29.00 to $32.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 6.56% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $33.00 target price (up previously from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. KeyCorp lifted their target price on Brixmor Property Group from $28.00 to $32.00 and gave the company an “overweight” rating in a research report on Tuesday, November 12th. Stifel Nicolaus increased their price target on Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group boosted their price target on Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company increased their price objective on Brixmor Property Group from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.38.

Brixmor Property Group Trading Up 0.7 %

Shares of BRX stock traded up $0.20 on Monday, hitting $30.03. The stock had a trading volume of 259,849 shares, compared to its average volume of 2,263,894. The firm has a market cap of $9.07 billion, a P/E ratio of 27.81, a PEG ratio of 4.07 and a beta of 1.57. Brixmor Property Group has a twelve month low of $20.80 and a twelve month high of $30.11. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85. The company has a fifty day moving average price of $28.01 and a two-hundred day moving average price of $25.50.

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

Insider Transactions at Brixmor Property Group

In other news, insider Steven F. Siegel sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.54, for a total value of $738,500.00. Following the transaction, the insider now owns 315,004 shares in the company, valued at $9,305,218.16. This trade represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC grew its position in shares of Brixmor Property Group by 1.7% in the first quarter. Lazard Asset Management LLC now owns 245,697 shares of the real estate investment trust’s stock valued at $5,761,000 after purchasing an additional 3,990 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Brixmor Property Group by 5.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 271,466 shares of the real estate investment trust’s stock valued at $6,366,000 after acquiring an additional 14,748 shares during the period. Caxton Associates LP bought a new position in shares of Brixmor Property Group in the first quarter valued at approximately $322,000. Burney Co. grew its stake in Brixmor Property Group by 8.0% during the first quarter. Burney Co. now owns 70,131 shares of the real estate investment trust’s stock valued at $1,645,000 after acquiring an additional 5,222 shares in the last quarter. Finally, Boston Partners lifted its stake in Brixmor Property Group by 1,140.5% in the 1st quarter. Boston Partners now owns 545,367 shares of the real estate investment trust’s stock worth $12,774,000 after purchasing an additional 501,403 shares in the last quarter. Institutional investors 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.