Royal Bank of Canada reaffirmed their hold rating on shares of Brixmor Property Group (NYSE:BRX) in a research report report published on Friday morning. Royal Bank of Canada currently has a $19.00 price objective on the real estate investment trust’s stock.
Other analysts also recently issued reports about the company. Boenning Scattergood reiterated a hold rating on shares of Brixmor Property Group in a research report on Wednesday, February 14th. SunTrust Banks set a $19.00 target price on Brixmor Property Group and gave the stock a buy rating in a research report on Monday, January 22nd. ValuEngine downgraded Brixmor Property Group from a buy rating to a hold rating in a research report on Friday, February 2nd. Stifel Nicolaus decreased their price objective on Brixmor Property Group from $19.00 to $16.00 and set a hold rating for the company in a report on Tuesday, February 13th. Finally, Sandler O’Neill set a $18.00 price objective on Brixmor Property Group and gave the company a buy rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $18.50.
Brixmor Property Group (NYSE:BRX) traded up $0.22 during trading hours on Friday, hitting $15.66. The stock had a trading volume of 2,542,818 shares, compared to its average volume of 5,397,751. Brixmor Property Group has a fifty-two week low of $13.74 and a fifty-two week high of $23.85. The company has a market capitalization of $4,704.63, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.92 and a beta of 0.35. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.65 and a current ratio of 0.65.
Brixmor Property Group (NYSE:BRX) last released its earnings results on Monday, February 12th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.27). Brixmor Property Group had a return on equity of 10.30% and a net margin of 23.40%. The business had revenue of $320.06 million for the quarter, compared to the consensus estimate of $312.97 million. During the same quarter last year, the business posted $0.53 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. analysts forecast that Brixmor Property Group will post 2 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, April 5th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, April 4th. This represents a $1.10 annualized dividend and a dividend yield of 7.02%. Brixmor Property Group’s payout ratio is currently 112.24%.
Brixmor Property Group announced that its board has authorized a stock repurchase plan on Tuesday, December 5th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, EVP Mark Horgan acquired 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was purchased at an average cost of $14.94 per share, for a total transaction of $67,230.00. Following the completion of the acquisition, the executive vice president now directly owns 62,769 shares of the company’s stock, valued at approximately $937,768.86. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BRX. Davis Selected Advisers purchased a new position in Brixmor Property Group in the third quarter valued at about $2,874,000. Swiss National Bank grew its stake in Brixmor Property Group by 1.0% in the third quarter. Swiss National Bank now owns 1,120,650 shares of the real estate investment trust’s stock valued at $21,068,000 after purchasing an additional 11,600 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Brixmor Property Group by 20.2% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 120,208 shares of the real estate investment trust’s stock valued at $2,260,000 after purchasing an additional 20,228 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Brixmor Property Group by 6.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,088,271 shares of the real estate investment trust’s stock valued at $20,459,000 after purchasing an additional 61,943 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD grew its stake in Brixmor Property Group by 1,204.2% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 422,565 shares of the real estate investment trust’s stock valued at $7,885,000 after purchasing an additional 390,164 shares during the last quarter.
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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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