Brixmor Property Group (NYSE:BRX) Stock Gets Price Target Cut from Citigroup

by · The Cerbat Gem

Brixmor Property Group (NYSE:BRX – Free Report) had its price target cut by Citigroup from $34.00 to $32.00 in a research note published on Monday,Benzinga reports. They currently have a neutral rating on the real estate investment trust’s stock.

A number of other brokerages have also weighed in on BRX. UBS Group decreased their price objective 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 on the stock in a research note on Thursday, September 24th. Piper Sandler reduced their target price on shares of Brixmor Property Group from $40.00 to $36.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Wells Fargo & Company raised Brixmor Property Group to a “hold” rating in a research note on Thursday, July 23rd. Finally, Stifel Nicolaus reduced their price objective on Brixmor Property Group from $32.00 to $30.50 and set a “hold” rating on the stock in a report on Tuesday, October 27th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.95.

Read Our Latest Stock Analysis on Brixmor Property Group

Brixmor Property Group Stock Performance

BRX stock opened at $30.25 on Monday. 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 business’s fifty day simple moving average is $28.25 and its two-hundred day simple moving average is $29.58. Brixmor Property Group has a twelve month low of $24.66 and a twelve month high of $32.86. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.27 and a beta of 0.95.

Brixmor Property Group (NYSE:BRX – Get Free Report) last released its earnings results 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 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 for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. Analysts predict that Brixmor Property Group will post 2.37 earnings per share for the current 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 issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a 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 (DPR) is currently 89.78%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in Brixmor Property Group by 5.2% in the third quarter. GAMMA Investing LLC now owns 8,450 shares of the real estate investment trust’s stock valued at $233,000 after acquiring an additional 416 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Brixmor Property Group by 103.7% in the second quarter. Parkside Financial Bank & Trust now owns 876 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 446 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Brixmor Property Group by 34.7% during the third quarter. Versant Capital Management Inc now owns 1,753 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 452 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Brixmor Property Group by 9.7% during the first quarter. Private Advisor Group LLC now owns 8,863 shares of the real estate investment trust’s stock worth $255,000 after purchasing an additional 783 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Brixmor Property Group during the second quarter worth $26,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

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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