Brixmor Property Group (NYSE:BRX) was upgraded by Citigroup to an “overweight” rating in a research note issued to investors on Wednesday, The Fly reports. The brokerage presently has a $21.00 price target on the real estate investment trust’s stock, up from their previous price target of $19.00. Citigroup’s target price points to a potential upside of 14.63% from the company’s current price. The analysts noted that the move was a valuation call.
BRX has been the subject of several other reports. ValuEngine raised Brixmor Property Group from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Mizuho reissued a “buy” rating and issued a $19.50 price objective on shares of Brixmor Property Group in a research report on Friday, November 10th. Boenning Scattergood reissued a “buy” rating and issued a $22.00 price objective on shares of Brixmor Property Group in a research report on Thursday, December 7th. Zacks Investment Research raised Brixmor Property Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Finally, BMO Capital Markets began coverage on Brixmor Property Group in a research report on Monday, September 11th. They issued a “market perform” rating and a $20.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $21.38.
Shares of Brixmor Property Group (BRX) traded down $0.41 during trading hours on Wednesday, reaching $18.32. The company had a trading volume of 2,832,910 shares, compared to its average volume of 2,986,255. The company has a market cap of $5,710.00, a price-to-earnings ratio of 17.28, a P/E/G ratio of 2.08 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.70. Brixmor Property Group has a twelve month low of $17.23 and a twelve month high of $25.34.
Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, October 30th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.24). The company had revenue of $314.50 million for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $0.51 earnings per share. equities analysts anticipate that Brixmor Property Group will post 2.08 earnings per share for the current fiscal year.
Brixmor Property Group declared that its board has authorized a stock 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 purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In other Brixmor Property Group news, EVP Mark Horgan acquired 3,000 shares of the stock in a transaction dated Friday, November 3rd. The stock was purchased at an average cost of $17.64 per share, with a total value of $52,920.00. Following the transaction, the executive vice president now owns 56,703 shares in the company, valued at approximately $1,000,240.92. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.27% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. M&T Bank Corp grew its stake in shares of Brixmor Property Group by 1.8% in the 2nd quarter. M&T Bank Corp now owns 17,587 shares of the real estate investment trust’s stock valued at $314,000 after buying an additional 316 shares during the period. Pacer Advisors Inc. grew its stake in shares of Brixmor Property Group by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 7,129 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 554 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Brixmor Property Group by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,283 shares of the real estate investment trust’s stock valued at $362,000 after buying an additional 712 shares during the period. Federated Investors Inc. PA grew its stake in shares of Brixmor Property Group by 9.1% in the 2nd quarter. Federated Investors Inc. PA now owns 20,021 shares of the real estate investment trust’s stock valued at $358,000 after buying an additional 1,670 shares during the period. Finally, Meiji Yasuda Life Insurance Co grew its stake in shares of Brixmor Property Group by 13.1% in the 2nd quarter. Meiji Yasuda Life Insurance Co now owns 16,440 shares of the real estate investment trust’s stock valued at $294,000 after buying an additional 1,900 shares during the period. Institutional investors own 98.30% of the company’s stock.
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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.