Brixmor Property Group (NYSE:BRX) was downgraded by equities research analysts at Mizuho from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday.
BRX has been the subject of several other reports. Barclays restated a “hold” rating and set a $22.00 target price on shares of Brixmor Property Group in a research note on Monday, August 14th. Zacks Investment Research downgraded Brixmor Property Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Boenning Scattergood set a $22.00 target price on Brixmor Property Group and gave the company a “buy” rating in a research note on Wednesday, November 1st. BMO Capital Markets initiated coverage on Brixmor Property Group in a research note on Monday, September 11th. They set a “market perform” rating and a $20.00 target price for the company. Finally, ValuEngine upgraded Brixmor Property Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.00.
Shares of Brixmor Property Group (NYSE BRX) opened at $17.93 on Monday. Brixmor Property Group has a twelve month low of $17.23 and a twelve month high of $25.34. The stock has a market capitalization of $5,467.52, a price-to-earnings ratio of 8.50, a P/E/G ratio of 1.93 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.70 and a quick ratio of 0.70.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.24). Brixmor Property Group had a net margin of 25.14% and a return on equity of 11.08%. The company had revenue of $314.50 million during the quarter, compared to analyst estimates of $317.31 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. equities analysts anticipate that Brixmor Property Group will post 2.08 earnings per share for the current year.
Brixmor Property Group declared that its Board of Directors has approved a stock repurchase program on Tuesday, December 5th that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, EVP Mark Horgan purchased 3,000 shares of Brixmor Property Group stock in a transaction dated Friday, November 3rd. The shares were acquired at an average price of $17.64 per share, with a total value of $52,920.00. Following the completion of the transaction, the executive vice president now owns 56,703 shares of the company’s stock, valued at approximately $1,000,240.92. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.27% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. bought a new position in shares of Brixmor Property Group during the third quarter worth about $100,000. Pacer Advisors Inc. lifted its holdings in Brixmor Property Group by 8.4% in the second quarter. Pacer Advisors Inc. now owns 7,129 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 554 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Brixmor Property Group by 621.1% in the third quarter. Meeder Asset Management Inc. now owns 7,947 shares of the real estate investment trust’s stock worth $150,000 after acquiring an additional 6,845 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Brixmor Property Group by 159.5% in the second quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock worth $152,000 after acquiring an additional 5,203 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in Brixmor Property Group by 58.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 9,603 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 3,538 shares during the last quarter. 98.57% of the stock is currently owned by institutional investors and hedge funds.
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Brixmor Property Group Company Profile
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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