Brixmor Property Group (NYSE:BRX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, Zacks.com reports. The brokerage currently has a $22.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.51% from the stock’s previous close.
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. “
Other research analysts have also recently issued reports about the company. Sandler O’Neill raised Brixmor Property Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $19.00 to $21.00 in a report on Tuesday, September 3rd. KeyCorp set a $20.00 price objective on shares of Brixmor Property Group and gave the company a “buy” rating in a research report on Wednesday, June 19th. Compass Point initiated coverage on shares of Brixmor Property Group in a report on Thursday, August 15th. They issued a “neutral” rating and a $19.00 target price on the stock. Deutsche Bank lowered shares of Brixmor Property Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $20.00 to $19.00 in a research report on Thursday, September 5th. They noted that the move was a valuation call. Finally, Scotiabank cut shares of Brixmor Property Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $20.00 to $19.00 in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Brixmor Property Group currently has an average rating of “Hold” and a consensus target price of $19.30.
BRX opened at $19.73 on Monday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.47 and a current ratio of 0.47. Brixmor Property Group has a fifty-two week low of $14.11 and a fifty-two week high of $19.75. The firm’s fifty day moving average is $18.64 and its 200 day moving average is $18.10. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of 10.66, a price-to-earnings-growth ratio of 2.17 and a beta of 0.74.
Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.24). The business 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%. Brixmor Property Group’s revenue was down 7.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 earnings per share. On average, equities research analysts predict that Brixmor Property Group will post 1.91 earnings per share for the current year.
In other news, Director James M. Taylor, Jr. purchased 7,500 shares of the business’s stock in a transaction on Friday, August 16th. The stock was acquired at an average price of $18.50 per share, for a total transaction of $138,750.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in BRX. Phocas Financial Corp. bought a new stake in shares of Brixmor Property Group in the 2nd quarter valued at approximately $5,287,000. NumerixS Investment Technologies Inc purchased a new stake in Brixmor Property Group during the 2nd quarter valued at $82,000. Machina Capital S.A.S. purchased a new stake in Brixmor Property Group during the 2nd quarter valued at $111,000. MAI Capital Management bought a new stake in Brixmor Property Group in the second quarter worth $180,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Brixmor Property Group in the first quarter worth $301,000. 99.22% of the stock is currently owned by institutional investors.
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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