Royal Bank Of Canada Reiterates Hold Rating for Brixmor Property Group Inc. (BRX)
Brixmor Property Group Inc. (NYSE:BRX)‘s stock had its “hold” rating restated by analysts at Royal Bank Of Canada in a research report issued to clients and investors on Thursday. They presently have a $22.00 price objective on the real estate investment trust’s stock. Royal Bank Of Canada’s target price suggests a potential upside of 25.93% from the company’s current price.
A number of other research analysts also recently issued reports on the stock. KeyCorp restated a “hold” rating on shares of Brixmor Property Group in a research report on Friday, August 25th. Boenning Scattergood upgraded shares of Brixmor Property Group from a “neutral” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Tuesday, September 12th. BMO Capital Markets initiated coverage on shares of Brixmor Property Group in a research note on Monday, September 11th. They issued a “market perform” rating and a $20.00 price objective for the company. ValuEngine lowered shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research lowered shares of Brixmor Property Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Brixmor Property Group currently has an average rating of “Hold” and an average target price of $23.39.
Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.24). The firm had revenue of $314.50 million during the quarter, compared to analyst estimates of $317.31 million. Brixmor Property Group had a return on equity of 11.08% and a net margin of 25.14%. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS.
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In other Brixmor Property Group news, insider James M. Taylor, Jr. purchased 15,600 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average price of $19.24 per share, with a total value of $300,144.00. Following the completion of the purchase, the insider now directly owns 224,793 shares of the company’s stock, valued at approximately $4,325,017.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Schreiber purchased 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was acquired at an average cost of $18.72 per share, with a total value of $187,200.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $374,400. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. lifted its stake in Brixmor Property Group by 15.5% in the third quarter. Prudential Financial Inc. now owns 1,256,969 shares of the real estate investment trust’s stock worth $23,632,000 after acquiring an additional 168,592 shares during the period. United Asset Strategies Inc. purchased a new stake in Brixmor Property Group in the third quarter worth $322,000. American Century Companies Inc. lifted its stake in Brixmor Property Group by 42.6% in the third quarter. American Century Companies Inc. now owns 85,199 shares of the real estate investment trust’s stock worth $1,602,000 after acquiring an additional 25,433 shares during the period. Stevens Capital Management LP purchased a new stake in Brixmor Property Group in the third quarter worth $3,035,000. Finally, Old Mutual Global Investors UK Ltd. lifted its stake in Brixmor Property Group by 47.8% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 22,300 shares of the real estate investment trust’s stock worth $419,000 after acquiring an additional 7,214 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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