Brixmor Property Group Now Covered by Analysts at Stifel Nicolaus (BRX)
Stock analysts at Stifel Nicolaus initiated coverage on shares of Brixmor Property Group (NYSE:BRX) in a report issued on Monday, TheFlyOnTheWall.com reports. The firm set a “hold” rating and a $20.00 price target on the stock. Stifel Nicolaus’ price target would suggest a potential downside of 0.94% from the company’s current price.
The analysts wrote, “We are initiating coverage of Brixmor Property Group Inc. (BRX) with a Hold rating, as the shares are trading in line with our $20 NAV estimate at a 7% cap rate. Brixmor is the former U.S. shopping center portfolio of Centro Properties. Blackstone purchased Centro in 2011 and changed the name to Brixmor – ‘bricks and mortar’. Brixmor is a rollup of three shopping center REITs purchased by Centro: Kramont Realty Trust in 2005, Heritage Property Investment Trust in 2006, and New Plan Excel Realty Trust in 2007. Brixmor owns the largest ‘wholly-owned’ shopping center portfolio in the U.S., 521 centers and one JV. Roughly, 71% of the properties are grocery-anchored with well above average sales, providing a level of stability to the portfolio, in our view.”
BRX has been the subject of a number of other recent research reports. Analysts at Barclays initiated coverage on shares of Brixmor Property Group in a research note to investors on Monday. They set an “overweight” rating on the stock. Separately, analysts at KeyCorp initiated coverage on shares of Brixmor Property Group in a research note to investors on Monday. They set a “buy” rating on the stock. Finally, analysts at SunTrust initiated coverage on shares of Brixmor Property Group in a research note to investors on Monday. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Brixmor Property Group presently has a consensus rating of “Buy” and a consensus price target of $21.50.
Brixmor Property Group (NYSE:BRX) traded down 0.59% during mid-day trading on Monday, hitting $20.07. 83,866 shares of the company’s stock traded hands. Brixmor Property Group has a 52 week low of $19.38 and a 52 week high of $20.99. The stock has a 50-day moving average of $20.18 and a 200-day moving average of $20.18.
Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Tuesday, December 3rd. The company reported $0.43 earnings per share (EPS) for the quarter. Analysts expect that Brixmor Property Group will post $0.05 EPS for the current fiscal year.
The company also recently declared a special dividend, which is scheduled for Wednesday, January 15th. Investors of record on Monday, January 6th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, January 2nd.
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