Brixmor Property Group (NYSE:BRX) was upgraded by stock analysts at Mitsubishi UFJ Financial Group from a “neutral” rating to an “overweight” rating in a research note issued on Wednesday.
BRX has been the topic of several other reports. Mizuho reiterated a “buy” rating and set a $19.50 target price on shares of Brixmor Property Group in a research note on Friday, November 10th. Zacks Investment Research downgraded Brixmor Property Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Boenning Scattergood downgraded Brixmor Property Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 14th. ValuEngine upgraded Brixmor Property Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, BMO Capital Markets assumed coverage on Brixmor Property Group in a research note on Monday, September 11th. They issued a “market perform” rating and a $20.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $21.38.
Shares of Brixmor Property Group (NYSE BRX) traded down $0.10 on Wednesday, reaching $17.92. The company’s stock had a trading volume of 1,630,000 shares, compared to its average volume of 2,560,000. 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 $5,460.00, a P/E ratio of 16.91, a price-to-earnings-growth ratio of 2.01 and a beta of 0.52.
Brixmor Property Group declared that its board has initiated a share buyback program on Tuesday, December 5th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, EVP Mark Horgan purchased 3,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were purchased at an average cost of $17.64 per share, for a total transaction of $52,920.00. Following the purchase, the executive vice president now directly owns 56,703 shares in the company, valued at approximately $1,000,240.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.
A number of institutional investors have recently made changes to their positions in BRX. BlackRock Inc. raised its holdings in Brixmor Property Group by 35.0% in the 2nd quarter. BlackRock Inc. now owns 29,066,747 shares of the real estate investment trust’s stock worth $519,713,000 after purchasing an additional 7,543,528 shares during the period. Presima Inc. bought a new position in Brixmor Property Group in the 3rd quarter worth $24,750,000. State Street Corp raised its holdings in Brixmor Property Group by 12.0% in the 2nd quarter. State Street Corp now owns 10,792,595 shares of the real estate investment trust’s stock worth $192,965,000 after purchasing an additional 1,159,181 shares during the period. Brookfield Asset Management Inc. raised its holdings in Brixmor Property Group by 15.9% in the 2nd 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 during the period. Finally, Macquarie Group Ltd. raised its holdings in Brixmor Property Group by 118.5% in the 2nd quarter. Macquarie Group Ltd. now owns 1,630,279 shares of the real estate investment trust’s stock worth $29,150,000 after purchasing an additional 884,018 shares during the period. 98.30% of the stock is currently 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.
