Brixmor Property Group Inc. (NYSE:BRX – Get Free Report)’s stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $29.58 and traded as high as $30.37. Brixmor Property Group shares last traded at $30.2480, with a volume of 4,580,711 shares changing hands.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on BRX shares. Wells Fargo & Company upgraded shares of Brixmor Property Group to a “hold” rating in a research report on Thursday, July 23rd. KeyCorp reaffirmed an “overweight” rating and set a $34.00 price objective on shares of Brixmor Property Group in a report on Wednesday, October 7th. Mizuho dropped their price target on Brixmor Property Group from $33.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, September 24th. Piper Sandler dropped their price objective on shares of Brixmor Property Group from $40.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday, October 12th. Finally, Truist Financial assumed coverage on Brixmor Property Group in a research note on Friday, October 2nd. They issued a “buy” rating and a $31.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.95.
Get Our Latest Stock Report on BRX
Brixmor Property Group Price Performance
The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.76. The stock has a fifty day moving average of $28.28 and a 200-day moving average of $29.61. The firm has a market capitalization of $9.22 billion, a P/E ratio of 21.93, a PEG ratio of 2.28 and a beta of 0.95.
Brixmor Property Group (NYSE:BRX – Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.31). The company had revenue of $359.60 million during 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 business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. Equities analysts predict that Brixmor Property Group Inc. will post 2.37 EPS for the current fiscal year.
Brixmor Property Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, January 5th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Tuesday, January 5th. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.3075. Brixmor Property Group’s dividend payout ratio is presently 89.78%.
Institutional Trading of Brixmor Property Group
A number of hedge funds have recently modified their holdings of BRX. BlackRock Inc. acquired a new stake in shares of Brixmor Property Group in the second quarter valued at approximately $1,265,950,000. Canada Pension Plan Investment Board bought a new stake in Brixmor Property Group in the second quarter valued at approximately $180,406,000. Principal Financial Group Inc. lifted its holdings in Brixmor Property Group by 686.1% during 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 purchasing 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% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,790,090 shares of the real estate investment trust’s stock worth $137,955,000 after buying an additional 64,449 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in Brixmor Property Group during the second quarter worth approximately $122,922,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.
Brixmor Property Group Company Profile
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.
See Also
- Five stocks we like better than Brixmor Property Group
- Q3 Earnings Have Investors Wondering: Is Mercado Libre Finally a Buy?
- CVS Raised Its Outlook and Announced a Breakup—So Why Did the Stock Drop?
- Array and Shoals Are Merging: Who Really Wins the All-Stock Solar Deal?
- Duolingo’s User Growth Is Outpacing Bookings, But Is Its Strategy Paying Off?
Receive News & Ratings for Brixmor Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brixmor Property Group and related companies with MarketBeat.com's FREE daily email newsletter.
