Brixmor Property Group (NYSE:BRX) Price Target Lowered to $30.00 at Scotiabank

Brixmor Property Group (NYSE:BRX) had its price target lowered by Scotiabank from $31.00 to $30.00 in a research report released on Thursday,Benzinga reports. The firm currently has a sector outperform rating on the real estate investment trust’s stock.

A number of other research firms also recently issued reports on BRX. Mizuho raised their price objective on shares of Brixmor Property Group from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Wednesday, August 20th. Evercore ISI boosted their price objective on shares of Brixmor Property Group from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. LADENBURG THALM/SH SH began coverage on Brixmor Property Group in a report on Tuesday, September 9th. They issued a “buy” rating and a $32.00 target price on the stock. Wells Fargo & Company started coverage on Brixmor Property Group in a report on Tuesday, October 21st. They set an “equal weight” rating and a $28.00 price target for the company. Finally, Stifel Nicolaus decreased their price objective on Brixmor Property Group from $29.50 to $29.00 and set a “hold” rating on the stock in a research note on Tuesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Brixmor Property Group Stock Performance

BRX traded up $0.06 during mid-day trading on Thursday, reaching $26.50. 1,874,718 shares of the company traded hands, compared to its average volume of 2,525,238. The company’s fifty day moving average price is $27.19 and its 200-day moving average price is $26.42. The stock has a market capitalization of $8.11 billion, a P/E ratio of 24.31, a P/E/G ratio of 2.50 and a beta of 1.31. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.85. Brixmor Property Group has a 52-week low of $22.28 and a 52-week high of $30.67.

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

Brixmor Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, January 5th will be paid a dividend of $0.3075 per share. The ex-dividend date of this dividend is Monday, January 5th. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.29. This represents a $1.23 annualized dividend and a yield of 4.6%. Brixmor Property Group’s dividend payout ratio is 105.50%.

Insider Buying and Selling

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of the business’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $28.21, for a total value of $705,250.00. Following the sale, the insider owned 302,657 shares in the company, valued at $8,537,953.97. The trade was a 7.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.75% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Brixmor Property Group

A number of hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in Brixmor Property Group by 0.5% in the 2nd quarter. State Street Corp now owns 15,699,421 shares of the real estate investment trust’s stock worth $408,813,000 after acquiring an additional 81,497 shares during the last quarter. Franklin Resources Inc. increased its position in Brixmor Property Group by 0.4% in the third quarter. Franklin Resources Inc. now owns 12,237,955 shares of the real estate investment trust’s stock worth $338,747,000 after purchasing an additional 51,778 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Brixmor Property Group by 10.6% during the first quarter. Canada Pension Plan Investment Board now owns 8,616,420 shares of the real estate investment trust’s stock valued at $228,766,000 after purchasing an additional 824,404 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Brixmor Property Group by 3.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 8,219,666 shares of the real estate investment trust’s stock valued at $214,040,000 after purchasing an additional 272,616 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Brixmor Property Group by 6.8% in the 3rd quarter. Invesco Ltd. now owns 8,036,728 shares of the real estate investment trust’s stock worth $222,457,000 after buying an additional 511,976 shares in the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Brixmor Property Group Company Profile

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.