Scotiabank Boosts Brixmor Property Group (NYSE:BRX) Price Target to $29.00

Brixmor Property Group (NYSE:BRX) had its price target raised by investment analysts at Scotiabank from $25.00 to $29.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “sector outperform” rating on the real estate investment trust’s stock. Scotiabank’s price objective suggests a potential upside of 6.46% from the stock’s current price.

A number of other research analysts also recently issued reports on BRX. The Goldman Sachs Group boosted their price target on Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their target price on Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Compass Point boosted their price objective on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Truist Financial lifted their target price on shares of Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Piper Sandler restated an “overweight” rating and issued a $33.00 price objective (up from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Brixmor Property Group has a consensus rating of “Moderate Buy” and an average target price of $27.86.

Brixmor Property Group Trading Up 0.4 %

Shares of NYSE BRX traded up $0.12 during midday trading on Monday, reaching $27.24. The company had a trading volume of 110,667 shares, compared to its average volume of 2,325,292. The firm’s fifty day moving average price is $24.22 and its 200-day moving average price is $23.00. The company has a quick ratio of 1.45, a current ratio of 1.50 and a debt-to-equity ratio of 1.88. Brixmor Property Group has a one year low of $19.46 and a one year high of $27.36. The stock has a market cap of $8.21 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 4.43 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). The company 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 business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.52 EPS. On average, equities research analysts anticipate that Brixmor Property Group will post 2.12 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Steven F. Siegel sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the transaction, the insider now directly owns 360,004 shares in the company, valued at $8,640,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total value of $127,250.00. Following the completion of the transaction, the director now owns 46,291 shares of the company’s stock, valued at approximately $1,178,105.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven F. Siegel sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the transaction, the insider now directly owns 360,004 shares of the company’s stock, valued at $8,640,096. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BRX. Blue Trust Inc. raised its stake in shares of Brixmor Property Group by 258.9% in the second quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,007 shares during the period. Quarry LP bought a new stake in shares of Brixmor Property Group during the fourth quarter valued at approximately $40,000. GAMMA Investing LLC purchased a new position in shares of Brixmor Property Group in the fourth quarter worth $45,000. Larson Financial Group LLC bought a new position in shares of Brixmor Property Group during the first quarter worth $47,000. Finally, Abich Financial Wealth Management LLC grew its stake in Brixmor Property Group by 50.7% during the first quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 775 shares in the last quarter. Hedge funds and other 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.