Brixmor Property Group Inc. (BRX) Downgraded to Sell at Zacks Investment Research
Brixmor Property Group Inc. (NYSE:BRX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
According to Zacks, “Brixmor Property Group Inc. operates as a real estate investment trust. It owns and operates a portfolio of grocery-anchored community and neighborhood shopping centers primarily in the United States. Brixmor Property Group Inc. is based in United States. “
A number of other research firms have also recently weighed in on BRX. BidaskClub upgraded shares of Brixmor Property Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Brixmor Property Group in a research report on Monday, June 19th. Barclays PLC reiterated a “hold” rating and set a $22.00 price objective on shares of Brixmor Property Group in a research note on Monday, August 14th. BMO Capital Markets assumed coverage on shares of Brixmor Property Group in a research note on Monday, September 11th. They set a “market perform” rating and a $20.00 price objective for the company. Finally, Boenning Scattergood raised shares of Brixmor Property Group from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $23.85.
Brixmor Property Group (BRX) traded down 0.48% on Tuesday, hitting $18.68. The stock had a trading volume of 3,484,487 shares. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 19.14 and a beta of 0.54. Brixmor Property Group has a 1-year low of $17.35 and a 1-year high of $27.24. The stock’s 50-day moving average is $19.00 and its 200 day moving average is $19.34.
Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Monday, July 31st. The real estate investment trust reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. Brixmor Property Group had a return on equity of 10.22% and a net margin of 23.06%. The firm had revenue of $322.80 million during the quarter, compared to analysts’ expectations of $315.69 million. During the same period in the prior year, the business posted $0.50 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities research analysts predict that Brixmor Property Group will post $0.86 earnings per share for the current fiscal year.
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In related news, insider James M. Taylor, Jr. purchased 15,600 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was acquired at an average price of $19.24 per share, with a total value of $300,144.00. Following the completion of the acquisition, the insider now owns 224,793 shares in the company, valued at approximately $4,325,017.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Schreiber purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was bought at an average cost of $18.72 per share, with a total value of $187,200.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $374,400. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of BRX. Brookfield Asset Management Inc. grew its holdings in shares of Brixmor Property Group by 15.9% during the second quarter. Brookfield Asset Management Inc. now owns 6,618,651 shares of the real estate investment trust’s stock valued at $118,341,000 after buying an additional 908,572 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Brixmor Property Group in the 2nd quarter valued at $493,000. Public Employees Retirement System of Ohio increased its position in shares of Brixmor Property Group by 9.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 419,632 shares of the real estate investment trust’s stock valued at $7,503,000 after acquiring an additional 36,956 shares during the period. Verition Fund Management LLC increased its position in shares of Brixmor Property Group by 52.2% in the 2nd quarter. Verition Fund Management LLC now owns 44,712 shares of the real estate investment trust’s stock valued at $799,000 after acquiring an additional 15,335 shares during the period. Finally, California State Teachers Retirement System increased its position in shares of Brixmor Property Group by 52.7% in the 2nd quarter. California State Teachers Retirement System now owns 598,707 shares of the real estate investment trust’s stock valued at $10,705,000 after acquiring an additional 206,685 shares during the period.
About Brixmor Property Group
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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