Brixmor Property Group (NYSE:BRX) Given New $31.00 Price Target at Truist Financial

Brixmor Property Group (NYSE:BRX) had its price objective boosted by Truist Financial from $28.00 to $31.00 in a research note published on Friday,Benzinga reports. The firm currently has a buy rating on the real estate investment trust’s stock.

A number of other equities research analysts have also weighed in on BRX. Stifel Nicolaus boosted their target price on shares of Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a report on Tuesday, October 29th. Scotiabank boosted their target price on shares of Brixmor Property Group from $25.00 to $29.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Mizuho upped their price objective on shares of Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. JPMorgan Chase & Co. upped their price objective on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, StockNews.com downgraded shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.13.

Brixmor Property Group Price Performance

BRX stock traded up $0.15 during trading on Friday, reaching $28.83. 2,247,467 shares of the company were exchanged, compared to its average volume of 2,288,288. The company has a 50-day moving average of $27.80 and a two-hundred day moving average of $25.20. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 3.93 and a beta of 1.57. Brixmor Property Group has a twelve month low of $20.80 and a twelve month high of $29.19. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.38 and a quick ratio of 1.38.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). The company had revenue of $320.68 million for the quarter, compared to analyst estimates of $320.22 million. Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. Brixmor Property Group’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 earnings per share. As a group, equities analysts predict that Brixmor Property Group will post 2.14 earnings per share for the current fiscal year.

Brixmor Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be paid a $0.287 dividend. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.15 dividend on an annualized basis and a yield of 3.98%. Brixmor Property Group’s payout ratio is presently 100.93%.

Hedge Funds Weigh In On Brixmor Property Group

Several hedge funds and other institutional investors have recently bought and sold shares of BRX. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Brixmor Property Group by 8.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,059 shares of the real estate investment trust’s stock valued at $353,000 after purchasing an additional 1,139 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Brixmor Property Group by 3.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 335,892 shares of the real estate investment trust’s stock valued at $7,228,000 after purchasing an additional 10,618 shares during the last quarter. Vanguard Group Inc. increased its holdings in Brixmor Property Group by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 45,662,863 shares of the real estate investment trust’s stock worth $1,070,794,000 after acquiring an additional 165,572 shares in the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Brixmor Property Group by 6.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 42,205 shares of the real estate investment trust’s stock worth $990,000 after acquiring an additional 2,437 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its holdings in Brixmor Property Group by 1.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 86,321 shares of the real estate investment trust’s stock worth $2,024,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Company Profile

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 362 retail centers comprise approximately 64 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision to be the center of the communities we serve and are home to a diverse mix of thriving national, regional and local retailers.