Zacks Investment Research Upgrades Brixmor Property Group (BRX) to “Hold”

Brixmor Property Group (NYSE:BRX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Brixmor Property Group Inc. operates as a real estate investment trust. It owns and operates a portfolio of grocery-anchored community and neighborhood shopping centers primarily in the United States. Brixmor Property Group Inc. is based in United States. “

BRX has been the subject of a number of other reports. Mizuho reaffirmed a “buy” rating and set a $19.50 price objective 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. 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. Citigroup raised shares of Brixmor Property Group to an “overweight” rating and lifted their price objective 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. Finally, BMO Capital Markets set a $19.00 price objective on shares of Brixmor Property Group and gave the stock a “hold” rating in a research report on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Brixmor Property Group currently has a consensus rating of “Hold” and an average price target of $19.38.

Brixmor Property Group (NYSE:BRX) traded up $0.16 during mid-day trading on Wednesday, reaching $15.01. 7,536,463 shares of the company’s stock were exchanged, compared to its average volume of 4,391,118. 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 1 year low of $13.74 and a 1 year high of $23.85. The company has a market capitalization of $4,381.64, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.79 and a beta of 0.35.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data on Monday, February 12th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.27). Brixmor Property Group had a return on equity of 10.29% and a net margin of 23.40%. The company had revenue of $320.06 million for the quarter, compared to the consensus estimate of $312.97 million. During the same period last year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. research analysts expect that Brixmor Property Group will post 2 EPS for the current fiscal year.

Brixmor Property Group declared that its Board of Directors has approved a stock buyback program 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 reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

A number of hedge funds and other institutional investors have recently modified their holdings of BRX. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Brixmor Property Group during the third quarter worth about $100,000. Meeder Asset Management Inc. grew its holdings in shares of Brixmor Property Group by 621.1% during the third quarter. Meeder Asset Management Inc. now owns 7,947 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 6,845 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Brixmor Property Group by 159.5% during the second quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 5,203 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of Brixmor Property Group during the third quarter worth about $191,000. Finally, IFM Investors Pty Ltd bought a new stake in shares of Brixmor Property Group during the third quarter worth about $197,000. 98.98% of the stock is owned by hedge funds and other 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.

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Analyst Recommendations for Brixmor Property Group (NYSE:BRX)

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