Brixmor Property Group (NYSE:BRX) Shares Gap Up Following Better-Than-Expected Earnings

Brixmor Property Group Inc. (NYSE:BRX - Get Free Report) gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $26.18, but opened at $26.94. Brixmor Property Group shares last traded at $26.83, with a volume of 228,702 shares.

The real estate investment trust reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.31. Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%.

Brixmor Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be given a dividend of $0.2875 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.15 annualized dividend and a dividend yield of 4.14%. This is a boost from Brixmor Property Group's previous quarterly dividend of $0.29. Brixmor Property Group's dividend payout ratio (DPR) is currently 106.48%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BRX. Mizuho raised their price target on Brixmor Property Group from $28.00 to $31.00 and gave the company a "neutral" rating in a report on Tuesday, December 10th. Stifel Nicolaus reduced their price objective on Brixmor Property Group from $31.75 to $31.25 and set a "hold" rating on the stock in a report on Tuesday. Truist Financial raised their price objective on Brixmor Property Group from $28.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Jefferies Financial Group upgraded Brixmor Property Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $28.00 to $33.00 in a report on Friday. Finally, BMO Capital Markets upgraded Brixmor Property Group from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $30.00 to $33.00 in a report on Friday, December 6th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Brixmor Property Group has an average rating of "Moderate Buy" and an average target price of $30.87.

Insiders Place Their Bets

In other news, insider Steven F. Siegel sold 25,000 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.54, for a total value of $738,500.00. Following the completion of the transaction, the insider now owns 315,004 shares of the company's stock, valued at $9,305,218.16. The trade was a 7.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Brixmor Property Group

Several institutional investors and hedge funds have recently modified their holdings of BRX. Creative Planning lifted its holdings in shares of Brixmor Property Group by 2.8% in the 2nd quarter. Creative Planning now owns 14,615 shares of the real estate investment trust's stock valued at $337,000 after buying an additional 396 shares during the period. Harbour Capital Advisors LLC acquired a new position in Brixmor Property Group in the 3rd quarter worth about $696,000. Vert Asset Management LLC raised its holdings in Brixmor Property Group by 2.8% in the 3rd quarter. Vert Asset Management LLC now owns 119,534 shares of the real estate investment trust's stock worth $3,330,000 after purchasing an additional 3,250 shares during the period. Blue Trust Inc. raised its holdings in Brixmor Property Group by 103.7% in the 3rd quarter. Blue Trust Inc. now owns 2,844 shares of the real estate investment trust's stock worth $79,000 after purchasing an additional 1,448 shares during the period. Finally, First Citizens Bank & Trust Co. acquired a new position in Brixmor Property Group in the 3rd quarter worth about $265,000. Institutional investors and hedge funds own 98.43% of the company's stock.

Brixmor Property Group Stock Down 1.3 %

The company has a market cap of $8.39 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.54 and a beta of 1.58. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85. The business has a fifty day moving average of $27.16 and a two-hundred day moving average of $27.45.

Brixmor Property Group Company Profile

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.