Citigroup Inc. Raises Brixmor Property Group Inc. (NYSE:BRX) Price Target to $20.00
Brixmor Property Group Inc. (NYSE:BRX) had its target price increased by investment analysts at Citigroup Inc. from $19.00 to $20.00 in a research report issued on Monday. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Citigroup Inc.’s price target points to a potential upside of 1.57% from the stock’s previous close.
Several other analysts have also weighed in on the company. Zacks Investment Research lowered Brixmor Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. BidaskClub upgraded Brixmor Property Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Royal Bank Of Canada restated a “hold” rating and set a $23.00 price target on shares of Brixmor Property Group in a report on Monday, June 19th. Barclays PLC decreased their price target on Brixmor Property Group from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Friday, June 16th. Finally, ValuEngine lowered Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $26.25.
Shares of Brixmor Property Group (NYSE:BRX) traded up 0.77% on Monday, hitting $19.69. 1,333,276 shares of the company traded hands. Brixmor Property Group has a 1-year low of $17.35 and a 1-year high of $29.14. The firm’s 50 day moving average price is $18.58 and its 200-day moving average price is $20.68. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of 20.17 and a beta of 0.53.
Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, July 31st. The real estate investment trust reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The firm had revenue of $322.80 million during the quarter, compared to the consensus estimate of $315.69 million. Brixmor Property Group had a return on equity of 10.22% and a net margin of 23.06%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. On average, equities research analysts expect that Brixmor Property Group will post $0.87 earnings per share for the current year.
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In other Brixmor Property Group news, Director John Schreiber bought 10,000 shares of Brixmor Property Group stock in a transaction on Thursday, May 11th. The shares were acquired at an average price of $18.85 per share, for a total transaction of $188,500.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $188,500. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. MAI Capital Management raised its stake in Brixmor Property Group by 24.1% in the second quarter. MAI Capital Management now owns 13,014 shares of the real estate investment trust’s stock worth $233,000 after buying an additional 2,530 shares during the last quarter. Federated Investors Inc. PA raised its stake in Brixmor Property Group by 9.1% in the second quarter. Federated Investors Inc. PA now owns 20,021 shares of the real estate investment trust’s stock worth $358,000 after buying an additional 1,670 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Brixmor Property Group by 126.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 253,279 shares of the real estate investment trust’s stock worth $4,529,000 after buying an additional 141,256 shares during the last quarter. Marshall Wace North America L.P. raised its stake in Brixmor Property Group by 399.9% in the second quarter. Marshall Wace North America L.P. now owns 615,300 shares of the real estate investment trust’s stock worth $11,075,000 after buying an additional 492,223 shares during the last quarter. Finally, ALGEBRIS UK Ltd acquired a new stake in Brixmor Property Group during the second quarter worth $6,822,000.
Brixmor Property Group Company Profile
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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