Brixmor Property Group (NYSE:BRX) declared that its board has initiated a stock repurchase plan, which permits the company to repurchase $400.00 million in outstanding shares on Tuesday, December 5th, EventVestor reports. This repurchase authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

BRX has been the topic of several recent research reports. KeyCorp reiterated a “hold” rating on shares of Brixmor Property Group in a report on Friday, August 25th. Boenning Scattergood upgraded Brixmor Property Group from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Tuesday, September 12th. BMO Capital Markets initiated coverage on Brixmor Property Group in a report on Monday, September 11th. They issued a “market perform” rating and a $20.00 price target on the stock. Mizuho reiterated a “buy” rating and issued a $19.50 price target on shares of Brixmor Property Group in a report on Friday, November 10th. Finally, ValuEngine cut Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Brixmor Property Group (NYSE BRX) opened at $17.93 on Friday. The stock has a market capitalization of $5,354.70, a PE ratio of 8.32, a P/E/G ratio of 1.89 and a beta of 0.52. Brixmor Property Group has a 1-year low of $17.23 and a 1-year high of $25.34. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.96.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.24). Brixmor Property Group had a net margin of 25.14% and a return on equity of 11.08%. The firm had revenue of $314.50 million during the quarter, compared to the consensus estimate of $317.31 million. During the same quarter in the prior year, the business earned $0.51 EPS. Brixmor Property Group’s revenue was down 1.3% on a year-over-year basis. equities analysts forecast that Brixmor Property Group will post 2.08 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Thursday, January 4th will be paid a $0.275 dividend. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, January 3rd. This represents a $1.10 annualized dividend and a yield of 6.13%. Brixmor Property Group’s dividend payout ratio is presently 98.11%.

In related news, EVP Mark Horgan bought 3,000 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were purchased at an average price of $17.64 per share, with a total value of $52,920.00. Following the completion of the purchase, the executive vice president now owns 56,703 shares of the company’s stock, valued at approximately $1,000,240.92. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.27% of the company’s stock.

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About Brixmor Property Group

Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.

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