Brixmor Property Group (NYSE:BRX) Reaches New 1-Year High After Analyst Upgrade

Brixmor Property Group Inc. (NYSE:BRX - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday after KeyCorp raised their price target on the stock from $28.00 to $32.00. KeyCorp currently has an overweight rating on the stock. Brixmor Property Group traded as high as $29.18 and last traded at $29.08, with a volume of 51013 shares trading hands. The stock had previously closed at $28.97.

Several other equities research analysts have also recently issued reports on BRX. StockNews.com cut Brixmor Property Group from a "buy" rating to a "hold" rating in a research note on Wednesday, August 7th. Compass Point boosted their price target on Brixmor Property Group from $28.00 to $30.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Stifel Nicolaus boosted their price target on Brixmor Property Group from $25.50 to $27.50 and gave the company a "hold" rating in a research note on Tuesday, October 29th. The Goldman Sachs Group boosted their price target on Brixmor Property Group from $26.00 to $29.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Finally, Truist Financial boosted their price target on Brixmor Property Group from $25.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, August 16th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Brixmor Property Group currently has an average rating of "Moderate Buy" and a consensus target price of $28.88.

Insider Activity at Brixmor Property Group

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the company's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total transaction of $127,250.00. Following the completion of the sale, the director now directly owns 46,291 shares in the company, valued at $1,178,105.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.76% of the stock is owned by insiders.

Institutional Trading of Brixmor Property Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Canada Pension Plan Investment Board purchased a new position in Brixmor Property Group in the 1st quarter worth approximately $124,978,000. PGGM Investments raised its holdings in Brixmor Property Group by 167.2% in the 2nd quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust's stock worth $86,847,000 after acquiring an additional 2,353,582 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Brixmor Property Group in the 2nd quarter worth approximately $49,546,000. Millennium Management LLC raised its holdings in Brixmor Property Group by 35.5% in the 2nd quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust's stock worth $132,443,000 after acquiring an additional 1,501,282 shares during the last quarter. Finally, 1832 Asset Management L.P. purchased a new position in Brixmor Property Group in the 1st quarter worth approximately $16,964,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Brixmor Property Group Stock Performance

The company has a market capitalization of $8.68 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 3.92 and a beta of 1.57. The business's fifty day moving average is $27.68 and its two-hundred day moving average is $25.05. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85.

Brixmor Property Group (NYSE:BRX - Get Free Report) last announced its earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.21). Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%. The company had revenue of $320.68 million for the quarter, compared to analysts' expectations of $320.22 million. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Brixmor Property Group's quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts predict 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 announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be issued a $0.287 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.15 annualized dividend and a yield of 3.99%. This is an increase from Brixmor Property Group's previous quarterly dividend of $0.27. Brixmor Property Group's dividend payout ratio is currently 100.93%.

About Brixmor Property Group

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.