Brixmor Property Group (NYSE:BRX) Stock Price Target Lowered at Citigroup

Brixmor Property Group (NYSE:BRX – Get Free Report) had its target price dropped by Citigroup from $34.00 to $32.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup‘s price objective suggests a potential upside of 8.37% from the company’s current price.

BRX has been the topic of several other reports. KeyCorp restated an “overweight” rating and issued a $34.00 price objective on shares of Brixmor Property Group in a report on Wednesday, October 7th. UBS Group lowered their target price on shares of Brixmor Property Group from $37.00 to $33.00 and set a “buy” rating for the company in a report on Friday, October 9th. Mizuho dropped their target price on shares of Brixmor Property Group from $33.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 24th. Piper Sandler cut their price target on Brixmor Property Group from $40.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. Finally, Stifel Nicolaus reduced their price target on Brixmor Property Group from $32.00 to $30.50 and set a “hold” rating on the stock in a research report on Tuesday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.95.

Read Our Latest Report on Brixmor Property Group

Brixmor Property Group Price Performance

NYSE:BRX traded up $0.39 during mid-day trading on Monday, hitting $29.53. The company’s stock had a trading volume of 1,194,187 shares, compared to its average volume of 2,760,565. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 2.25 and a beta of 0.97. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. Brixmor Property Group has a fifty-two week low of $24.66 and a fifty-two week high of $32.86. The stock has a fifty day moving average of $28.24 and a 200-day moving average of $29.52.

Brixmor Property Group (NYSE:BRX – Get Free Report) last released its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.31). The business had revenue of $359.60 million for the quarter, compared to the consensus estimate of $357.28 million. Brixmor Property Group had a return on equity of 14.10% and a net margin of 29.96%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $0.56 earnings per share. As a group, equities analysts forecast that Brixmor Property Group will post 2.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Brixmor Property Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Brixmor Property Group in the second quarter valued at approximately $1,265,950,000. Canada Pension Plan Investment Board acquired a new position in shares of Brixmor Property Group during the second quarter worth $180,406,000. Principal Financial Group Inc. lifted its stake in shares of Brixmor Property Group by 686.1% in the 1st quarter. Principal Financial Group Inc. now owns 5,176,486 shares of the real estate investment trust’s stock valued at $149,083,000 after acquiring an additional 4,518,001 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Brixmor Property Group by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,790,090 shares of the real estate investment trust’s stock valued at $137,955,000 after acquiring an additional 64,449 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Brixmor Property Group during the 2nd quarter valued at $122,922,000. 98.43% of the stock is currently owned by institutional investors.

About Brixmor Property Group

(Get Free Report)

Brixmor Property Group Inc (NYSE: BRX) is a real estate investment trust that owns and operates open-air shopping centers across the United States. Its portfolio is primarily focused on grocery-anchored community and neighborhood centers located in established, densely populated markets.

The company leases retail space to a diverse mix of tenants, including grocery stores, restaurants, service businesses, health and wellness providers, and other essential retailers. Brixmor also manages property operations and pursues redevelopment, re-tenanting, and leasing initiatives designed to enhance the functionality and long-term value of its shopping centers.

Brixmor became a publicly traded company in 2013 after being separated from an ownership structure associated with Blackstone.

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Analyst Recommendations for Brixmor Property Group (NYSE:BRX)

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