Evercore ISI Cuts Brixmor Property Group (NYSE:BRX) Price Target to $31.00

Brixmor Property Group (NYSE:BRX) had its price target decreased by Evercore ISI from $32.00 to $31.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

A number of other brokerages also recently issued reports on BRX. Mizuho increased their price target on shares of Brixmor Property Group from $28.00 to $31.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. BMO Capital Markets raised Brixmor Property Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $30.00 to $33.00 in a research note on Friday, December 6th. Scotiabank raised their price objective on Brixmor Property Group from $29.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Monday, November 25th. KeyCorp lifted their price objective on Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Finally, Truist Financial upped their target price on Brixmor Property Group from $28.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Brixmor Property Group has an average rating of “Moderate Buy” and a consensus price target of $30.19.

Brixmor Property Group Price Performance

Shares of NYSE:BRX opened at $27.75 on Tuesday. Brixmor Property Group has a 52 week low of $20.80 and a 52 week high of $30.67. The company has a 50-day moving average price of $28.68 and a 200 day moving average price of $26.58. The company has a market cap of $8.38 billion, a P/E ratio of 25.69, a PEG ratio of 3.96 and a beta of 1.58. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.85.

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

Brixmor Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be paid a $0.287 dividend. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 annualized dividend and a yield of 4.14%. The ex-dividend date is Friday, January 3rd. Brixmor Property Group’s payout ratio is presently 106.48%.

Insiders Place Their Bets

In other news, insider Steven F. Siegel sold 25,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total transaction of $738,500.00. Following the completion of the transaction, the insider now owns 315,004 shares of the company’s stock, valued at $9,305,218.16. This represents a 7.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Brixmor Property Group

A number of institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. lifted its stake in shares of Brixmor Property Group by 328.6% in the 3rd quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 723 shares in the last quarter. Quarry LP lifted its position in Brixmor Property Group by 36.3% during the third quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 364 shares in the last quarter. Maryland Capital Advisors Inc. purchased a new stake in Brixmor Property Group during the third quarter worth approximately $46,000. Fifth Third Bancorp increased its position in shares of Brixmor Property Group by 19.1% in the second quarter. Fifth Third Bancorp now owns 2,684 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 431 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Brixmor Property Group by 103.7% in the 3rd quarter. Blue Trust Inc. now owns 2,844 shares of the real estate investment trust’s stock valued at $79,000 after acquiring an additional 1,448 shares during the period. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

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.