Brixmor Property Group Inc. (BRX) Lifted to “Outperform” at Wells Fargo & Co.
Brixmor Property Group Inc. (NYSE:BRX) was upgraded by equities researchers at Wells Fargo & Co. from a “market perform” rating to an “outperform” rating in a research report issued on Monday.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Brixmor Property Group from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a report on Tuesday, October 25th. Deutsche Bank AG upgraded Brixmor Property Group from a “hold” rating to a “buy” rating and increased their price objective for the stock from $27.00 to $30.00 in a report on Wednesday, August 17th. Stifel Nicolaus upgraded Brixmor Property Group from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Monday, August 15th. They noted that the move was a valuation call. Citigroup Inc. upgraded Brixmor Property Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $28.00 to $31.00 in a report on Friday, August 12th. Finally, Mitsubishi UFJ Financial Group restated a “neutral” rating on shares of Brixmor Property Group in a report on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $28.36.
Brixmor Property Group (NYSE:BRX) opened at 24.59 on Monday. The stock’s 50 day moving average is $25.17 and its 200-day moving average is $26.56. The firm has a market capitalization of $7.48 billion, a PE ratio of 31.05 and a beta of 0.61. Brixmor Property Group has a 52-week low of $19.91 and a 52-week high of $29.14.
Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, October 24th. The real estate investment trust reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The company had revenue of $318.58 million for the quarter, compared to the consensus estimate of $312.70 million. Brixmor Property Group had a return on equity of 8.19% and a net margin of 18.62%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. Equities analysts expect that Brixmor Property Group will post $2.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Stockholders of record on Thursday, January 5th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.23%. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, January 3rd. Brixmor Property Group’s dividend payout ratio is currently 125.64%.
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In related news, insider Steven F. Siegel sold 6,000 shares of the firm’s stock in a transaction on Monday, October 31st. The stock was sold at an average price of $25.26, for a total value of $151,560.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James M. Taylor, Jr. acquired 10,000 shares of the company’s stock in a transaction on Monday, November 21st. The shares were bought at an average price of $23.82 per share, with a total value of $238,200.00. Following the completion of the purchase, the insider now directly owns 213,590 shares of the company’s stock, valued at $5,087,713.80. The disclosure for this purchase can be found here. 0.22% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. bought a new position in Brixmor Property Group during the third quarter valued at about $146,283,000. D.A. Davidson & CO. raised its position in Brixmor Property Group by 0.3% in the third quarter. D.A. Davidson & CO. now owns 11,738 shares of the real estate investment trust’s stock valued at $325,000 after buying an additional 33 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Brixmor Property Group by 37.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 61,937 shares of the real estate investment trust’s stock valued at $1,721,000 after buying an additional 16,742 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its position in Brixmor Property Group by 14.4% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 234,057 shares of the real estate investment trust’s stock valued at $6,503,000 after buying an additional 29,402 shares in the last quarter. Finally, Credit Suisse AG raised its position in Brixmor Property Group by 44.9% in the third quarter. Credit Suisse AG now owns 1,114,045 shares of the real estate investment trust’s stock valued at $30,960,000 after buying an additional 345,430 shares in the last quarter.
Brixmor Property Group Company Profile
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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