Brixmor Property Group (NYSE:BRX) Reaches New 1-Year High Following Analyst Upgrade

Brixmor Property Group Inc. (NYSE:BRX)’s stock price hit a new 52-week high during mid-day trading on Tuesday after KeyCorp raised their price target on the stock from $28.00 to $32.00. KeyCorp currently has an overweight rating on the stock. Brixmor Property Group traded as high as $29.18 and last traded at $29.08, with a volume of 51013 shares traded. The stock had previously closed at $28.97.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. increased their price objective on Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. StockNews.com cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Evercore ISI boosted their price objective on shares of Brixmor Property Group from $27.00 to $28.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. Piper Sandler reaffirmed an “overweight” rating and set a $33.00 target price (up previously from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their price target on shares of Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a research note on Tuesday, October 29th. Five 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, the company presently has an average rating of “Moderate Buy” and an average price target of $28.88.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BRX. Vanguard Group Inc. grew its holdings in shares of Brixmor Property Group by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 45,662,863 shares of the real estate investment trust’s stock worth $1,070,794,000 after acquiring an additional 165,572 shares during the period. Canada Pension Plan Investment Board grew its stake in Brixmor Property Group by 37.4% in the second quarter. Canada Pension Plan Investment Board now owns 7,324,870 shares of the real estate investment trust’s stock worth $169,131,000 after purchasing an additional 1,995,299 shares during the period. Millennium Management LLC raised its holdings in Brixmor Property Group by 35.5% in the second quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust’s stock worth $132,443,000 after purchasing an additional 1,501,282 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Brixmor Property Group by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,959,993 shares of the real estate investment trust’s stock valued at $138,185,000 after buying an additional 159,388 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Brixmor Property Group by 9.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,804,746 shares of the real estate investment trust’s stock valued at $110,940,000 after buying an additional 396,242 shares in the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Brixmor Property Group Stock Down 0.8 %

The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38. The stock’s 50-day moving average price is $27.71 and its two-hundred day moving average price is $25.10. The stock has a market capitalization of $8.68 billion, a PE ratio of 26.61, a P/E/G ratio of 3.92 and a beta of 1.57.

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

Brixmor Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.287 per share. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, January 3rd. This represents a $1.15 dividend on an annualized basis and a yield of 3.99%. Brixmor Property Group’s payout ratio is presently 100.93%.

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.