Brixmor Property Group (NYSE:BRX) Hits New 52-Week High on Analyst Upgrade

Brixmor Property Group Inc. (NYSE:BRX - Get Free Report) hit a new 52-week high during mid-day trading on Monday after Truist Financial raised their price target on the stock from $28.00 to $31.00. Truist Financial currently has a buy rating on the stock. Brixmor Property Group traded as high as $29.24 and last traded at $29.20, with a volume of 536040 shares. The stock had previously closed at $28.83.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. increased their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. StockNews.com cut Brixmor Property Group from a "buy" rating to a "hold" rating in a research report on Wednesday, August 7th. Piper Sandler reissued an "overweight" rating and issued a $33.00 target price (up from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. The Goldman Sachs Group lifted their price target on Brixmor Property Group from $26.00 to $29.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Finally, Mizuho increased their price objective on Brixmor Property Group from $23.00 to $27.00 and gave the company a "neutral" rating in a report on Monday, August 19th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Brixmor Property Group presently has an average rating of "Moderate Buy" and an average target price of $29.13.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. UMB Bank n.a. increased its position in Brixmor Property Group by 328.6% during the 3rd quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust's stock worth $26,000 after purchasing an additional 723 shares during the period. Blue Trust Inc. grew its holdings in Brixmor Property Group by 258.9% during the second quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust's stock worth $33,000 after acquiring an additional 1,007 shares during the period. Quarry LP raised its position in Brixmor Property Group by 36.3% in the third quarter. Quarry LP now owns 1,368 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 364 shares in the last quarter. Maryland Capital Advisors Inc. purchased a new position in Brixmor Property Group in the third quarter worth $46,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in Brixmor Property Group by 50.7% in the first quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust's stock valued at $54,000 after acquiring an additional 775 shares during the period. 98.43% of the stock is owned by hedge funds and other institutional investors.

Brixmor Property Group Stock Up 1.5 %

The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38. The company has a market capitalization of $8.84 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 3.93 and a beta of 1.57. The firm's 50-day simple moving average is $27.83 and its 200 day simple moving average is $25.29.

Brixmor Property Group (NYSE:BRX - Get Free Report) last issued its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.21). Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. The company had revenue of $320.68 million for the quarter, compared to analyst estimates of $320.22 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that Brixmor Property Group Inc. will post 2.14 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be issued a dividend of $0.287 per share. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Brixmor Property Group's previous quarterly dividend of $0.27. This represents a $1.15 annualized dividend and a yield of 3.92%. Brixmor Property Group's payout ratio is currently 106.48%.

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.