Sandler O’Neill set a $18.00 price target on Brixmor Property Group (NYSE:BRX) in a research report report published on Thursday. The firm currently has a buy rating on the real estate investment trust’s stock.
Other research analysts also recently issued research reports about the stock. Boenning Scattergood reiterated a hold rating on shares of Brixmor Property Group in a research report on Wednesday. Royal Bank of Canada reiterated a hold rating and issued a $22.00 price objective on shares of Brixmor Property Group in a research report on Thursday, November 2nd. SunTrust Banks set a $19.00 price objective on shares of Brixmor Property Group and gave the stock a buy rating in a research report on Monday, January 22nd. ValuEngine downgraded shares of Brixmor Property Group from a buy rating to a hold rating in a research report on Friday, February 2nd. Finally, Stifel Nicolaus decreased their price objective on shares of Brixmor Property Group from $19.00 to $16.00 and set a hold rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $19.22.
Brixmor Property Group (NYSE BRX) traded up $0.66 during midday trading on Thursday, reaching $15.84. 8,180,408 shares of the company were exchanged, compared to its average volume of 4,470,310. The firm has a market capitalization of $4,573.61, a P/E ratio of 15.99, a PEG ratio of 1.87 and a beta of 0.35. Brixmor Property Group has a 52 week low of $13.74 and a 52 week high of $23.85. The company has a quick ratio of 0.70, a current ratio of 0.65 and a debt-to-equity ratio of 1.95.
Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, February 12th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.27). The business had revenue of $320.06 million for the quarter, compared to analyst estimates of $312.97 million. Brixmor Property Group had a net margin of 23.40% and a return on equity of 10.30%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. equities analysts predict that Brixmor Property Group will post 2 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, April 5th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.94%. Brixmor Property Group’s dividend payout ratio (DPR) is currently 112.24%.
Brixmor Property Group announced that its board has approved a share repurchase program on Tuesday, December 5th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
In related news, EVP Mark Horgan bought 4,500 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was acquired at an average price of $14.94 per share, with a total value of $67,230.00. Following the completion of the purchase, the executive vice president now directly owns 62,769 shares of the company’s stock, valued at $937,768.86. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.27% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Brixmor Property Group during the third quarter worth about $100,000. Meeder Asset Management Inc. increased its stake 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 in the last quarter. PNC Financial Services Group Inc. increased its stake 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 in the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Brixmor Property Group during the third quarter worth about $191,000. Finally, IFM Investors Pty Ltd purchased 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 institutional investors and hedge funds.
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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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