Stifel Nicolaus Cuts Brixmor Property Group (BRX) Price Target to $16.00

Brixmor Property Group (NYSE:BRX) had its price target cut by investment analysts at Stifel Nicolaus from $19.00 to $16.00 in a research note issued on Tuesday. The brokerage currently has a “hold” rating on the real estate investment trust’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 7.74% from the company’s previous close.

BRX has been the subject of several other reports. Mizuho reaffirmed a “buy” rating and issued a $19.50 target price on shares of Brixmor Property Group in a research report on Friday, November 10th. Boenning Scattergood cut shares of Brixmor Property Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 14th. Zacks Investment Research cut shares of Brixmor Property Group from a “hold” rating to a “sell” rating in a research report on Thursday, November 2nd. Mitsubishi UFJ Financial Group raised shares of Brixmor Property Group from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 3rd. Finally, Citigroup raised shares of Brixmor Property Group to an “overweight” rating and raised their target price for the stock from $19.00 to $21.00 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $19.38.

Brixmor Property Group (NYSE:BRX) traded up $0.47 during trading hours on Tuesday, hitting $14.85. 7,720,873 shares of the stock traded hands, compared to its average volume of 4,080,000. Brixmor Property Group has a 12-month low of $13.74 and a 12-month high of $24.64. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $4,530.00, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.77 and a beta of 0.35.

Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, February 12th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.27). Brixmor Property Group had a return on equity of 11.08% and a net margin of 25.14%. The company had revenue of $320.06 million during the quarter, compared to analysts’ expectations of $312.97 million. During the same period in the prior year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. equities research analysts expect that Brixmor Property Group will post 2.08 earnings per share for the current fiscal year.

Brixmor Property Group declared that its Board of Directors has initiated a share repurchase plan on Tuesday, December 5th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in Brixmor Property Group by 3.6% during 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 acquiring an additional 712 shares during the period. Pictet Asset Management Ltd. increased its stake in Brixmor Property Group by 2.5% during the 3rd quarter. Pictet Asset Management Ltd. now owns 115,400 shares of the real estate investment trust’s stock valued at $2,170,000 after purchasing an additional 2,800 shares in the last quarter. Amalgamated Bank increased its stake in Brixmor Property Group by 6.3% during the 4th quarter. Amalgamated Bank now owns 58,608 shares of the real estate investment trust’s stock valued at $1,094,000 after purchasing an additional 3,474 shares in the last quarter. Copeland Capital Management LLC increased its stake in Brixmor Property Group by 1.8% during the 4th quarter. Copeland Capital Management LLC now owns 213,187 shares of the real estate investment trust’s stock valued at $3,978,000 after purchasing an additional 3,861 shares in the last quarter. Finally, Loeb Partners Corp increased its stake in Brixmor Property Group by 12.9% during the 3rd quarter. Loeb Partners Corp now owns 35,000 shares of the real estate investment trust’s stock valued at $658,000 after purchasing an additional 4,000 shares in the last quarter. 98.98% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Brixmor Property Group (NYSE:BRX)

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