Brixmor Property Group Inc. (BRX) Earns Buy Rating from Mizuho
Brixmor Property Group Inc. (NYSE:BRX)‘s stock had its “buy” rating restated by Mizuho in a report released on Friday. They currently have a $19.50 price objective on the real estate investment trust’s stock. Mizuho’s target price would indicate a potential upside of 6.85% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on BRX. Barclays PLC lowered their price objective on Brixmor Property Group from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 18th. Zacks Investment Research cut Brixmor Property Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 18th. Royal Bank of Canada reiterated a “hold” rating and set a $23.00 price target on shares of Brixmor Property Group in a research report on Wednesday, August 2nd. Boenning Scattergood reiterated a “hold” rating on shares of Brixmor Property Group in a research report on Wednesday, August 2nd. Finally, Citigroup Inc. upped their price target on Brixmor Property Group from $19.00 to $20.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $23.11.
Shares of Brixmor Property Group (NYSE BRX) traded up $0.34 during trading on Friday, reaching $18.25. The company had a trading volume of 2,975,100 shares, compared to its average volume of 2,849,076. Brixmor Property Group has a fifty-two week low of $17.23 and a fifty-two week high of $25.34. The company has a market cap of $5,461.43, a PE ratio of 8.49, a P/E/G ratio of 1.67 and a beta of 0.51. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.96.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data 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). Brixmor Property Group had a net margin of 25.14% and a return on equity of 11.08%. The firm had revenue of $314.50 million during the quarter, compared to the consensus estimate of $317.31 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The company’s revenue was down 1.3% on a year-over-year basis. research analysts predict that Brixmor Property Group will post 2.09 earnings per share for the current fiscal year.
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In related news, insider James M. Taylor, Jr. acquired 15,600 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was purchased 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 owns 224,793 shares in the company, valued at approximately $4,325,017.32. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Schreiber acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were bought at an average cost of $18.72 per share, with a total value of $187,200.00. Following the purchase, 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. In the last ninety days, insiders acquired 28,600 shares of company stock valued at $540,264. 0.27% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in BRX. BlackRock Inc. lifted its stake in Brixmor Property Group by 35.0% in the second quarter. BlackRock Inc. now owns 29,066,747 shares of the real estate investment trust’s stock worth $519,713,000 after acquiring an additional 7,543,528 shares during the period. Presima Inc. purchased a new stake in Brixmor Property Group in the third quarter worth $24,750,000. First Manhattan Co. lifted its stake in Brixmor Property Group by 399.3% in the second quarter. First Manhattan Co. now owns 1,537,970 shares of the real estate investment trust’s stock worth $27,498,000 after acquiring an additional 1,229,970 shares during the period. State Street Corp lifted its stake in Brixmor Property Group by 12.0% in the second quarter. State Street Corp now owns 10,792,595 shares of the real estate investment trust’s stock worth $192,965,000 after acquiring an additional 1,159,181 shares during the period. Finally, Brookfield Asset Management Inc. raised its holdings in Brixmor Property Group by 15.9% in the second quarter. Brookfield Asset Management Inc. now owns 6,618,651 shares of the real estate investment trust’s stock worth $118,341,000 after purchasing an additional 908,572 shares in the last quarter.
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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