Brixmor Property Group (NYSE:BRX) was downgraded by research analysts at Boenning Scattergood from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat.com reports.
Other analysts also recently issued reports about the company. ValuEngine upgraded Brixmor Property Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Mizuho reissued a “buy” rating and set a $19.50 price target on shares of Brixmor Property Group in a report on Friday, November 10th. BMO Capital Markets set a $19.00 price target on Brixmor Property Group and gave the company a “hold” rating in a report on Tuesday, December 5th. Stifel Nicolaus initiated coverage on Brixmor Property Group in a report on Thursday, November 30th. They set a “hold” rating and a $19.00 price target on the stock. Finally, Royal Bank of Canada reissued a “hold” rating and set a $22.00 price target on shares of Brixmor Property Group in a report on Thursday, November 2nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Brixmor Property Group currently has a consensus rating of “Hold” and a consensus price target of $21.94.
Shares of Brixmor Property Group (NYSE:BRX) traded down $0.18 on Thursday, reaching $18.07. The company’s stock had a trading volume of 1,778,894 shares, compared to its average volume of 2,850,105. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. Brixmor Property Group has a 1-year low of $17.23 and a 1-year high of $25.34. The stock has a market cap of $5,513.27, a P/E ratio of 8.57, a price-to-earnings-growth ratio of 1.95 and a beta of 0.52.
Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, October 30th. The real estate investment trust reported $0.27 EPS for the quarter, missing the 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 business had revenue of $314.50 million for the quarter, compared to analysts’ expectations of $317.31 million. During the same quarter in the prior year, the business posted $0.51 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. equities analysts expect that Brixmor Property Group will post 2.08 earnings per share for the current fiscal year.
Brixmor Property Group announced that its Board of Directors has initiated a share buyback program on Tuesday, December 5th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
In other Brixmor Property Group news, EVP Mark Horgan purchased 3,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was acquired at an average price of $17.64 per share, for a total transaction of $52,920.00. Following the purchase, the executive vice president now owns 56,703 shares of the company’s stock, valued at approximately $1,000,240.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.27% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its position in Brixmor Property Group by 3.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,183,228 shares of the real estate investment trust’s stock worth $39,037,000 after acquiring an additional 79,331 shares in the last quarter. Rhumbline Advisers grew its position in Brixmor Property Group by 31.6% in the second quarter. Rhumbline Advisers now owns 331,323 shares of the real estate investment trust’s stock worth $5,924,000 after acquiring an additional 79,600 shares in the last quarter. BlackRock Inc. grew its position 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 in the last quarter. Swiss National Bank grew its position in Brixmor Property Group by 1.0% in the third quarter. Swiss National Bank now owns 1,120,650 shares of the real estate investment trust’s stock worth $21,068,000 after acquiring an additional 11,600 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Brixmor Property Group by 20.2% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 120,208 shares of the real estate investment trust’s stock worth $2,260,000 after acquiring an additional 20,228 shares in the last quarter. Hedge funds and other institutional investors own 98.57% of the company’s stock.
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.