Brixmor Property Group (NYSE:BRX) Given New $29.00 Price Target at Scotiabank

Brixmor Property Group (NYSE:BRX) had its price target cut by Scotiabank from $30.00 to $29.00 in a research note published on Wednesday,Benzinga reports. They currently have a sector outperform rating on the real estate investment trust’s stock.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Brixmor Property Group from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Wells Fargo & Company assumed coverage on Brixmor Property Group in a research note on Tuesday, October 21st. They set an “equal weight” rating and a $28.00 target price for the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Brixmor Property Group in a research note on Monday, December 22nd. Finally, UBS Group increased their price target on Brixmor Property Group from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.30.

Brixmor Property Group Stock Up 0.6%

Shares of BRX opened at $25.87 on Wednesday. Brixmor Property Group has a 52-week low of $22.28 and a 52-week high of $28.61. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.85. The stock has a fifty day simple moving average of $25.98 and a two-hundred day simple moving average of $26.54. The company has a market capitalization of $7.92 billion, a PE ratio of 23.74, a price-to-earnings-growth ratio of 2.28 and a beta of 1.09.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, October 27th. The real estate investment trust reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. Brixmor Property Group had a net margin of 24.70% and a return on equity of 11.22%. The firm had revenue of $340.84 million during the quarter, compared to analyst estimates of $335.23 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Brixmor Property Group’s quarterly revenue was up 6.3% on a year-over-year basis. Brixmor Property Group has set its FY 2025 guidance at 2.23-2.250 EPS. As a group, equities analysts forecast that Brixmor Property Group will post 2.22 EPS for the current year.

Brixmor Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, January 5th will be given a dividend of $0.3075 per share. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.29. This represents a $1.23 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, January 5th. Brixmor Property Group’s dividend payout ratio (DPR) is 112.84%.

Hedge Funds Weigh In On Brixmor Property Group

Hedge funds have recently bought and sold shares of the company. Cox Capital Mgt LLC acquired a new position in Brixmor Property Group in the 4th quarter valued at about $2,367,000. Exchange Traded Concepts LLC purchased a new position in shares of Brixmor Property Group in the fourth quarter valued at approximately $170,000. Peak Financial Advisors LLC boosted its stake in shares of Brixmor Property Group by 226.4% in the fourth quarter. Peak Financial Advisors LLC now owns 85,552 shares of the real estate investment trust’s stock valued at $2,243,000 after purchasing an additional 59,340 shares during the period. Pensionfund Sabic acquired a new position in shares of Brixmor Property Group in the fourth quarter valued at approximately $1,054,000. Finally, Pensionfund PDN purchased a new stake in Brixmor Property Group during the 4th quarter worth approximately $2,360,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

About Brixmor Property Group

Brixmor Property Group is a publicly traded real estate investment trust (REIT) focused on the ownership, management and development of open-air shopping centers across the United States. The company acquires and leases retail properties that feature everyday, necessity-based tenants such as grocery stores, discount retailers, and service providers. Brixmor’s core strategy centers on generating stable, long-term income streams through tenant relationships and targeted property enhancements.

The company’s main business activities include proactive leasing, property upkeep and capital improvement projects designed to maximize occupancy and tenant satisfaction.