Brixmor Property Group (NYSE:BRX) Price Target Raised to $35.00

Brixmor Property Group (NYSE:BRX) had its price objective raised by UBS Group from $33.00 to $35.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other brokerages have also recently commented on BRX. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Brixmor Property Group in a research report on Thursday, October 29th. Stifel Nicolaus lowered their price objective on Brixmor Property Group from $32.00 to $30.50 and set a “hold” rating for the company in a report on Tuesday, October 27th. Truist Financial started coverage on Brixmor Property Group in a report on Friday, October 2nd. They issued a “buy” rating and a $31.00 price objective for the company. KeyCorp restated an “overweight” rating and set a $34.00 price objective on shares of Brixmor Property Group in a research note on Wednesday, October 7th. Finally, Wells Fargo & Company raised Brixmor Property Group to a “hold” rating in a report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Brixmor Property Group has a consensus rating of “Moderate Buy” and an average target price of $33.14.

Brixmor Property Group Stock Up 0.3%

BRX stock opened at $30.33 on Wednesday. The firm has a market capitalization of $9.31 billion, a PE ratio of 22.14, a P/E/G ratio of 2.05 and a beta of 0.95. The company’s 50 day simple moving average is $28.39 and its 200-day simple moving average is $29.71. Brixmor Property Group has a 12 month low of $24.66 and a 12 month high of $32.86. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.81.

Brixmor Property Group (NYSE:BRX) last released its earnings results on Monday, October 26th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.31). Brixmor Property Group had a net margin of 29.96% and a return on equity of 14.10%. The company had revenue of $359.60 million during the quarter, compared to analysts’ expectations of $357.28 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Brixmor Property Group’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts expect that Brixmor Property Group will post 2.37 earnings per share for the current fiscal year.

Brixmor Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Tuesday, January 5th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, January 5th. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.3075. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.4%. Brixmor Property Group’s dividend payout ratio is presently 89.78%.

Institutional Investors Weigh In On Brixmor Property Group

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Brixmor Property Group in the second quarter worth approximately $1,265,950,000. Canada Pension Plan Investment Board purchased a new position in shares of Brixmor Property Group during the 2nd quarter worth $180,406,000. Principal Financial Group Inc. grew its position in shares of Brixmor Property Group by 686.1% during the 1st quarter. Principal Financial Group Inc. now owns 5,176,486 shares of the real estate investment trust’s stock valued at $149,083,000 after acquiring an additional 4,518,001 shares during the period. Deutsche Bank AG bought a new stake in shares of Brixmor Property Group during the 2nd quarter valued at $122,922,000. Finally, Bank of America Corp DE bought a new stake in shares of Brixmor Property Group during the 2nd quarter valued at $90,382,000. 98.43% of the stock is owned by institutional investors and hedge funds.

Brixmor Property Group Company Profile

Brixmor Property Group is a real estate investment trust (REIT) that owns, operates and redevelops open-air shopping centers across the United States. Its properties are primarily neighborhood and community centers anchored by grocery stores and serve local shopping and service needs. The company works with tenants and local communities to maintain and enhance its centers, which include retailers, restaurants and service providers. Brixmor was formed in 2011 and became a publicly traded company in 2013.