Zacks Investment Research Downgrades Brixmor Property Group Inc. (BRX) to Sell
Brixmor Property Group Inc. (NYSE:BRX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
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. “
Several other research analysts have also commented on the stock. TheStreet upgraded shares of Brixmor Property Group from a “sell” rating to a “hold” rating in a report on Monday, October 31st. Mitsubishi UFJ Financial Group initiated coverage on shares of Brixmor Property Group in a research report on Wednesday, September 7th. They issued an “outperform” rating and a $29.00 target price on the stock. Evercore ISI raised shares of Brixmor Property Group from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Monday, August 22nd. Citigroup Inc. raised shares of Brixmor Property Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $28.00 to $31.00 in a research report on Friday, August 12th. Finally, Stifel Nicolaus raised shares of Brixmor Property Group from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Monday, August 15th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Brixmor Property Group presently has an average rating of “Hold” and an average price target of $28.36.
Brixmor Property Group (NYSE:BRX) opened at 23.57 on Wednesday. The company has a market cap of $7.17 billion, a P/E ratio of 29.76 and a beta of 0.61. Brixmor Property Group has a 1-year low of $19.91 and a 1-year high of $29.14. The stock’s 50 day moving average is $26.27 and its 200 day moving average is $26.68.
Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Monday, October 24th. The real estate investment trust reported $0.51 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. Brixmor Property Group had a net margin of 18.62% and a return on equity of 8.19%. The business earned $318.58 million during the quarter, compared to analyst estimates of $312.70 million. During the same period in the prior year, the business earned $0.51 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities analysts anticipate that Brixmor Property Group will post $2.06 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Thursday, January 5th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, January 3rd. This represents a $1.04 annualized dividend and a yield of 4.41%. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.25. Brixmor Property Group’s dividend payout ratio is currently 125.64%.
In other Brixmor Property Group news, major shareholder Brx Holdco Llc sold 42,400,000 shares of the company’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $27.30, for a total transaction of $1,157,520,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven F. Siegel sold 6,000 shares of the company’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $27.98, for a total transaction of $167,880.00. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. boosted its position in Brixmor Property Group by 28.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 193,960 shares of the real estate investment trust’s stock valued at $5,390,000 after buying an additional 42,810 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Brixmor Property Group by 8.5% in the third quarter. ProShare Advisors LLC now owns 58,141 shares of the real estate investment trust’s stock valued at $1,616,000 after buying an additional 4,571 shares during the period. Profund Advisors LLC boosted its position in shares of Brixmor Property Group by 23.6% in the third quarter. Profund Advisors LLC now owns 15,224 shares of the real estate investment trust’s stock valued at $423,000 after buying an additional 2,910 shares during the period. Catalyst Capital Advisors LLC acquired a new position in shares of Brixmor Property Group during the third quarter valued at $1,487,000. Finally, Principal Financial Group Inc. boosted its position in shares of Brixmor Property Group by 34.0% in the third quarter. Principal Financial Group Inc. now owns 41,922 shares of the real estate investment trust’s stock valued at $1,165,000 after buying an additional 10,633 shares during the period.
About Brixmor Property Group
Brixmor Property Group Inc and subsidiaries (collectively BPG) is an internally managed real estate investment trust (REIT). Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership) is the entity through which BPG conducts its operations and owns its assets. BPG owns 100% of the common stock of BPG Subsidiary Inc (BPG Sub), which is the sole member of Brixmor OP GP LLC (the General Partner), the sole general partner of the Operating Partnership.
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