Brixmor Property Group’s (BRX) Buy Rating Reaffirmed at Truist Financial

Truist Financial reissued their buy rating on shares of Brixmor Property Group (NYSE:BRX) in a report issued on Monday, Benzinga reports. The brokerage currently has a $25.00 price objective on the real estate investment trust’s stock.

A number of other equities research analysts also recently commented on the company. Stifel Nicolaus upped their price objective on Brixmor Property Group from $22.75 to $24.00 and gave the company a hold rating in a report on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft assumed coverage on Brixmor Property Group in a research note on Tuesday, January 30th. They issued a buy rating and a $27.00 price target for the company. Finally, Mizuho reissued a neutral rating and set a $24.00 price objective (up previously from $23.00) on shares of Brixmor Property Group in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Brixmor Property Group has a consensus rating of Moderate Buy and a consensus price target of $25.38.

Brixmor Property Group Stock Performance

Shares of NYSE:BRX opened at $23.45 on Monday. The stock has a market capitalization of $7.07 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.70 and a beta of 1.53. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.73. Brixmor Property Group has a 1-year low of $19.40 and a 1-year high of $24.47. The business has a 50-day moving average price of $22.69 and a two-hundred day moving average price of $22.10.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.27). Brixmor Property Group had a return on equity of 10.63% and a net margin of 24.50%. The business had revenue of $316.49 million for the quarter, compared to the consensus estimate of $311.77 million. During the same period last year, the firm earned $0.49 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. Equities analysts predict that Brixmor Property Group will post 2.08 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Tuesday, April 2nd will be given a $0.273 dividend. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.09 annualized dividend and a yield of 4.66%. The ex-dividend date is Monday, April 1st. Brixmor Property Group’s payout ratio is currently 107.92%.

Insider Buying and Selling

In related news, Director Michael B. Berman sold 10,475 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $22.82, for a total transaction of $239,039.50. Following the completion of the transaction, the director now directly owns 40,556 shares in the company, valued at $925,487.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Brixmor Property Group news, Director Michael B. Berman sold 10,475 shares of Brixmor Property Group stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total value of $239,039.50. Following the sale, the director now directly owns 40,556 shares in the company, valued at approximately $925,487.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian T. Finnegan sold 7,500 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $23.00, for a total transaction of $172,500.00. Following the transaction, the insider now owns 225,051 shares of the company’s stock, valued at $5,176,173. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,475 shares of company stock valued at $585,990. Company insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Jump Financial LLC acquired a new stake in shares of Brixmor Property Group in the 3rd quarter valued at approximately $1,630,000. Deutsche Bank AG raised its position in Brixmor Property Group by 1,073.3% during the third quarter. Deutsche Bank AG now owns 3,019,909 shares of the real estate investment trust’s stock worth $62,754,000 after acquiring an additional 2,762,529 shares in the last quarter. Invesco Ltd. raised its position in Brixmor Property Group by 22.8% during the third quarter. Invesco Ltd. now owns 6,929,942 shares of the real estate investment trust’s stock worth $144,004,000 after acquiring an additional 1,288,656 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Brixmor Property Group by 236.4% in the second quarter. Hsbc Holdings PLC now owns 530,154 shares of the real estate investment trust’s stock valued at $11,575,000 after acquiring an additional 372,578 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Brixmor Property Group by 9.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 12,918,610 shares of the real estate investment trust’s stock valued at $268,449,000 after acquiring an additional 1,130,130 shares during the period. 98.43% 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 362 retail centers comprise approximately 64 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.