Brixmor Property Group (NYSE:BRX) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Brixmor Property Group (NYSE:BRX) from an in-line rating to an outperform rating in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. Evercore ISI currently has $31.00 price objective on the real estate investment trust’s stock.

Several other equities research analysts also recently issued reports on the company. Mizuho lifted their price objective on Brixmor Property Group from $28.00 to $31.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Stifel Nicolaus lifted their price objective on Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a report on Tuesday, October 29th. KeyCorp lifted their price objective on Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th. Scotiabank lifted their price objective on Brixmor Property Group from $29.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Monday, November 25th. Finally, BMO Capital Markets upgraded Brixmor Property Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $30.00 to $33.00 in a report on Friday, December 6th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Brixmor Property Group currently has an average rating of “Moderate Buy” and an average price target of $30.69.

Brixmor Property Group Stock Performance

Shares of NYSE:BRX opened at $28.12 on Tuesday. The company has a market cap of $8.49 billion, a P/E ratio of 26.03, a PEG ratio of 2.54 and a beta of 1.58. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38. Brixmor Property Group has a one year low of $20.80 and a one year high of $30.67. The business’s 50-day simple moving average is $27.16 and its 200 day simple moving average is $27.45.

Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, February 10th. The real estate investment trust reported $0.53 EPS for the quarter, beating the consensus estimate of $0.22 by $0.31. Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. On average, sell-side analysts forecast that Brixmor Property Group will post 2.14 earnings per share for the current fiscal year.

Brixmor Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a $0.2875 dividend. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.15 annualized dividend and a dividend yield of 4.09%. Brixmor Property Group’s dividend payout ratio (DPR) is presently 106.48%.

Insider Activity at Brixmor Property Group

In related news, insider Steven F. Siegel sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $29.54, for a total transaction of $738,500.00. Following the completion of the transaction, the insider now owns 315,004 shares in the company, valued at $9,305,218.16. The trade was a 7.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Brixmor Property Group during the 4th quarter worth $110,205,000. Invesco Ltd. boosted its position in Brixmor Property Group by 61.1% during the 4th quarter. Invesco Ltd. now owns 5,748,492 shares of the real estate investment trust’s stock worth $160,038,000 after acquiring an additional 2,180,541 shares during the period. Captrust Financial Advisors acquired a new position in Brixmor Property Group during the 3rd quarter worth $46,695,000. Brookfield Corp ON acquired a new position in Brixmor Property Group during the 3rd quarter worth $38,051,000. Finally, Zurich Insurance Group Ltd FI boosted its position in Brixmor Property Group by 44.7% during the 3rd quarter. Zurich Insurance Group Ltd FI now owns 3,104,772 shares of the real estate investment trust’s stock worth $86,499,000 after acquiring an additional 959,000 shares during the period. Institutional investors and hedge funds own 98.43% of the company’s stock.

About Brixmor Property Group

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.