Brixmor Property Group (NYSE:BRX) PT Lowered to $27.00

Brixmor Property Group (NYSE:BRX) had its price objective reduced by equities researchers at The Goldman Sachs Group from $28.00 to $27.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 15.14% from the stock’s previous close.

Several other research firms have also recently commented on BRX. Truist Financial reaffirmed a “buy” rating and issued a $25.00 price target on shares of Brixmor Property Group in a report on Monday. Stifel Nicolaus upped their target price 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 began coverage on Brixmor Property Group in a report on Tuesday, January 30th. They set a “buy” rating and a $27.00 price target on the stock. Finally, Mizuho reissued a “neutral” rating and issued a $24.00 price objective (up previously from $23.00) on shares of Brixmor Property Group in a report 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 MarketBeat.com, Brixmor Property Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.38.

Brixmor Property Group Trading Up 0.8 %

Shares of BRX opened at $23.45 on Wednesday. Brixmor Property Group has a 52-week low of $19.40 and a 52-week high of $24.47. The stock has a market cap of $7.07 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 2.70 and a beta of 1.53. The firm’s fifty day moving average is $22.69 and its two-hundred day moving average is $22.10. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.73.

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 analyst estimates of $311.77 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Research analysts forecast that Brixmor Property Group will post 2.08 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Brixmor Property Group

Large investors have recently made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in Brixmor Property Group in the fourth quarter valued at $823,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Brixmor Property Group during the fourth quarter worth approximately $4,445,000. Wellington Management Group LLP boosted its holdings in Brixmor Property Group by 3.7% in the fourth quarter. Wellington Management Group LLP now owns 10,915,844 shares of the real estate investment trust’s stock valued at $254,012,000 after purchasing an additional 394,158 shares in the last quarter. Quarry LP purchased a new position in Brixmor Property Group in the fourth quarter valued at approximately $40,000. Finally, FIL Ltd raised its holdings in Brixmor Property Group by 1.4% during the fourth quarter. FIL Ltd now owns 182,481 shares of the real estate investment trust’s stock worth $4,246,000 after purchasing an additional 2,500 shares in the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

About Brixmor Property Group

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.