Brixmor Property Group (NYSE:BRX) Price Target Cut to $28.00

Brixmor Property Group (NYSE:BRXGet Rating) had its target price decreased by Piper Sandler to $28.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. Piper Sandler’s price target points to a potential upside of 28.21% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. TheStreet raised shares of Brixmor Property Group from a “c” rating to a “b-” rating in a research note on Tuesday, February 8th. Wells Fargo & Company raised their target price on shares of Brixmor Property Group from $24.00 to $26.00 and gave the company an “equal weight” rating in a research note on Thursday, April 7th. Mizuho lowered their target price on shares of Brixmor Property Group from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Brixmor Property Group from $27.00 to $28.00 and gave the company a “hold” rating in a research note on Thursday, March 31st. Finally, Zacks Investment Research cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Monday, February 28th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Brixmor Property Group presently has an average rating of “Hold” and a consensus target price of $27.38.

Shares of BRX stock traded down $1.01 during trading hours on Friday, reaching $21.84. The stock had a trading volume of 216,616 shares, compared to its average volume of 2,320,680. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.65 and a quick ratio of 0.65. Brixmor Property Group has a twelve month low of $21.01 and a twelve month high of $27.19. The firm has a 50-day simple moving average of $25.12 and a 200-day simple moving average of $24.93. The firm has a market capitalization of $6.54 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 1.70 and a beta of 1.52.

Brixmor Property Group (NYSE:BRXGet Rating) last released its quarterly earnings data on Monday, May 2nd. The real estate investment trust reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. Brixmor Property Group had a net margin of 25.39% and a return on equity of 10.92%. During the same period in the previous year, the firm posted $0.44 EPS. On average, equities analysts anticipate that Brixmor Property Group will post 1.93 earnings per share for the current year.

In other Brixmor Property Group news, insider Brian T. Finnegan sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $25.14, for a total value of $125,700.00. Following the completion of the transaction, the insider now directly owns 145,682 shares in the company, valued at $3,662,445.48. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steven F. Siegel sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $26.00, for a total transaction of $520,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,000 shares of company stock valued at $1,304,900. Corporate insiders own 0.64% of the company’s stock.

Several hedge funds have recently bought and sold shares of BRX. Wellington Management Group LLP boosted its holdings in shares of Brixmor Property Group by 99.4% during the first quarter. Wellington Management Group LLP now owns 20,119,950 shares of the real estate investment trust’s stock worth $519,296,000 after purchasing an additional 10,028,534 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Brixmor Property Group by 17.5% during the fourth quarter. JPMorgan Chase & Co. now owns 30,237,387 shares of the real estate investment trust’s stock worth $768,332,000 after purchasing an additional 4,493,274 shares during the period. Norges Bank bought a new position in Brixmor Property Group during the fourth quarter valued at approximately $75,388,000. Invesco Ltd. raised its position in Brixmor Property Group by 30.1% during the third quarter. Invesco Ltd. now owns 9,158,057 shares of the real estate investment trust’s stock valued at $202,485,000 after acquiring an additional 2,116,347 shares in the last quarter. Finally, BlackRock Inc. raised its position in Brixmor Property Group by 6.1% during the fourth quarter. BlackRock Inc. now owns 35,956,258 shares of the real estate investment trust’s stock valued at $913,647,000 after acquiring an additional 2,078,502 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

About Brixmor Property Group (Get Rating)

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 395 retail centers comprise approximately 69 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.

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