Brixmor Property Group (BRX) Now Covered by Analysts at Scotiabank

Scotiabank began coverage on shares of Brixmor Property Group (NYSE:BRX) in a report released on Tuesday, The Fly reports. The brokerage issued an outperform rating on the real estate investment trust’s stock.

Other analysts have also issued research reports about the company. SunTrust Banks reissued a buy rating and set a $20.00 price objective on shares of Brixmor Property Group in a report on Wednesday, August 8th. Sandler O’Neill lowered Brixmor Property Group from a buy rating to a hold rating in a report on Wednesday, August 1st. Stifel Nicolaus lifted their price objective on Brixmor Property Group from $16.00 to $18.00 and gave the stock a hold rating in a report on Tuesday, July 31st. BMO Capital Markets reissued a hold rating and set a $16.50 price objective on shares of Brixmor Property Group in a report on Monday, July 30th. Finally, ValuEngine raised Brixmor Property Group from a sell rating to a hold rating in a report on Wednesday, August 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $18.55.

Shares of NYSE:BRX opened at $15.60 on Tuesday. Brixmor Property Group has a 1-year low of $13.74 and a 1-year high of $18.83. The company has a market cap of $4.72 billion, a PE ratio of 7.46, a PEG ratio of 2.05 and a beta of 0.42. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.92.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.24). Brixmor Property Group had a return on equity of 10.21% and a net margin of 23.30%. The firm had revenue of $313.03 million for the quarter, compared to analyst estimates of $307.73 million. During the same period in the previous year, the business posted $0.53 EPS. Brixmor Property Group’s revenue for the quarter was down 3.0% compared to the same quarter last year. Research analysts expect that Brixmor Property Group will post 1.98 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, October 5th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 7.05%. The ex-dividend date of this dividend was Thursday, October 4th. Brixmor Property Group’s dividend payout ratio is 52.63%.

Hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its stake in Brixmor Property Group by 175.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,291,534 shares of the real estate investment trust’s stock valued at $57,675,000 after buying an additional 2,098,559 shares in the last quarter. Bank of America Corp DE boosted its stake in Brixmor Property Group by 26.5% in the 2nd quarter. Bank of America Corp DE now owns 1,955,044 shares of the real estate investment trust’s stock valued at $34,077,000 after buying an additional 410,028 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in Brixmor Property Group by 86.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 305,050 shares of the real estate investment trust’s stock valued at $5,317,000 after buying an additional 141,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Brixmor Property Group by 11.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 76,400 shares of the real estate investment trust’s stock valued at $1,332,000 after buying an additional 7,949 shares in the last quarter. Finally, Timbercreek Investment Management Inc. boosted its stake in Brixmor Property Group by 64.0% in the 3rd quarter. Timbercreek Investment Management Inc. now owns 765,910 shares of the real estate investment trust’s stock valued at $13,411,000 after buying an additional 299,000 shares in the last quarter.

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 471 retail centers comprise approximately 80 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.

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The Fly

Analyst Recommendations for Brixmor Property Group (NYSE:BRX)

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