Brixmor Property Group (NYSE:BRX)‘s stock had its “buy” rating restated by analysts at Boenning Scattergood in a report released on Thursday. They currently have a $22.00 price objective on the real estate investment trust’s stock. Boenning Scattergood’s price target points to a potential upside of 22.70% from the company’s previous close. Boenning Scattergood also issued estimates for Brixmor Property Group’s Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.50 EPS, Q3 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.51 EPS and FY2018 earnings at $2.02 EPS.
Other equities analysts have also recently issued research reports about the company. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $22.00 target price on shares of Brixmor Property Group in a report on Thursday, November 2nd. BMO Capital Markets set a $20.00 target price on Brixmor Property Group and gave the stock a “hold” rating in a report on Tuesday, October 31st. KeyCorp reaffirmed a “hold” rating on shares of Brixmor Property Group in a report on Friday, August 25th. Stifel Nicolaus assumed coverage on Brixmor Property Group in a report on Thursday, November 30th. They issued a “hold” rating and a $19.00 target price for the company. Finally, ValuEngine cut Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.00.
Brixmor Property Group (NYSE BRX) opened at $17.93 on Thursday. 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 fifty-two week low of $17.23 and a fifty-two week high of $25.34. The company has a market capitalization of $5,433.98, a price-to-earnings ratio of 8.45, a PEG ratio of 1.92 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.24). Brixmor Property Group had a return on equity of 11.08% and a net margin of 25.14%. The firm had revenue of $314.50 million during the quarter, compared to analyst estimates of $317.31 million. During the same period in the previous year, the company earned $0.51 EPS. Brixmor Property Group’s revenue for the quarter was down 1.3% on a year-over-year basis. research 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 authorized a stock repurchase plan on Tuesday, December 5th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the real estate investment trust to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
In related news, EVP Mark Horgan purchased 3,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was bought at an average price of $17.64 per share, with a total value of $52,920.00. Following the completion of the purchase, 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 accessible through this hyperlink. Corporate insiders own 0.27% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Brixmor Property Group in the third quarter valued at about $100,000. Pacer Advisors Inc. increased its stake in shares of Brixmor Property Group by 8.4% in the second 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. Meeder Asset Management Inc. increased its stake in shares of Brixmor Property Group by 621.1% in the third quarter. Meeder Asset Management Inc. now owns 7,947 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 6,845 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Brixmor Property Group by 159.5% in the second quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 5,203 shares during the period. Finally, Public Employees Retirement Association of Colorado increased its stake in shares of Brixmor Property Group by 58.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 9,603 shares of the real estate investment trust’s stock valued at $172,000 after buying an additional 3,538 shares during the period. 98.57% of the stock is owned by institutional investors.
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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.
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