Zacks Investment Research lowered shares of Brixmor Property Group (NYSE:BRX) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.
According to Zacks, “Brixmor Property Group Inc. operates as a real estate investment trust. It owns and operates a portfolio of grocery-anchored community and neighborhood shopping centers primarily in the United States. Brixmor Property Group Inc. is based in United States. “
A number of other brokerages have also recently issued reports on BRX. KeyCorp lifted their price target on shares of Brixmor Property Group from $20.00 to $22.00 and gave the company an overweight rating in a research report on Monday, September 23rd. Scotiabank cut shares of Brixmor Property Group from an outperform rating to a sector perform rating and lowered their price target for the company from $20.00 to $19.00 in a research report on Friday, August 16th. Deutsche Bank cut shares of Brixmor Property Group from a buy rating to a hold rating and lowered their price target for the company from $20.00 to $19.00 in a research report on Thursday, September 5th. They noted that the move was a valuation call. Barclays reissued a hold rating and set a $21.00 price target on shares of Brixmor Property Group in a research report on Sunday, October 13th. Finally, ValuEngine cut shares of Brixmor Property Group from a sell rating to a strong sell rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $20.00.
Shares of BRX opened at $20.74 on Tuesday. The firm’s 50-day moving average price is $19.78 and its 200-day moving average price is $18.56. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 2.33 and a beta of 0.74. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.78. Brixmor Property Group has a 1-year low of $14.11 and a 1-year high of $20.76.
Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.24). The company had revenue of $291.00 million for the quarter, compared to the consensus estimate of $286.99 million. Brixmor Property Group had a net margin of 30.07% and a return on equity of 12.66%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.51 EPS. On average, research analysts forecast that Brixmor Property Group will post 1.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, October 4th were issued a $0.28 dividend. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.12 annualized dividend and a yield of 5.40%. Brixmor Property Group’s dividend payout ratio (DPR) is presently 60.54%.
In other news, Director James M. Taylor, Jr. bought 7,500 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $18.50 per share, with a total value of $138,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.40% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the business. Stephens Inc. AR purchased a new position in Brixmor Property Group in the third quarter worth about $1,041,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Brixmor Property Group by 2.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 130,711 shares of the real estate investment trust’s stock worth $2,652,000 after buying an additional 3,557 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Brixmor Property Group by 76.6% in the third quarter. Envestnet Asset Management Inc. now owns 47,057 shares of the real estate investment trust’s stock worth $955,000 after buying an additional 20,410 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Brixmor Property Group by 94.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 365,061 shares of the real estate investment trust’s stock worth $7,406,000 after buying an additional 177,475 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Brixmor Property Group by 32.4% in the third quarter. Nisa Investment Advisors LLC now owns 142,322 shares of the real estate investment trust’s stock worth $2,888,000 after buying an additional 34,835 shares during the last quarter. 99.18% of the stock is owned by institutional investors and hedge funds.
Brixmor Property Group Company Profile
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 425 retail centers comprise approximately 74 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.
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