Brixmor Property Group (NYSE:BRX) Reaches New 1-Year High - What's Next?

Brixmor Property Group Inc. (NYSE:BRX - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $28.46 and last traded at $28.28, with a volume of 282247 shares traded. The stock had previously closed at $28.35.

Wall Street Analysts Forecast Growth

BRX has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their price objective on Brixmor Property Group from $24.00 to $25.50 and gave the stock a "hold" rating in a report on Tuesday, July 30th. 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. Evercore ISI increased their price target on Brixmor Property Group from $27.00 to $28.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th. The Goldman Sachs Group increased 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, JPMorgan Chase & Co. increased their price target on Brixmor Property Group from $26.00 to $28.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $28.38.

Brixmor Property Group Stock Performance

The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.88. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 30.01, a P/E/G ratio of 4.43 and a beta of 1.57. The stock has a 50 day moving average of $27.29 and a 200 day moving average of $24.39.

Brixmor Property Group (NYSE:BRX - Get Free Report) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.29). The business had revenue of $315.69 million for the quarter, compared to analyst estimates of $317.75 million. Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The firm's revenue was up 1.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. As a group, analysts anticipate that Brixmor Property Group Inc. will post 2.13 EPS for the current fiscal year.

Brixmor Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd were paid a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a yield of 3.91%. The ex-dividend date of this dividend was Wednesday, October 2nd. Brixmor Property Group's payout ratio is 117.20%.

Insiders Place Their Bets

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total transaction of $127,250.00. Following the completion of the transaction, the director now owns 46,291 shares of the company's stock, valued at approximately $1,178,105.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.76% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Larson Financial Group LLC acquired a new position in shares of Brixmor Property Group in the first quarter valued at approximately $47,000. PGGM Investments increased its stake in shares of Brixmor Property Group by 167.2% in the second quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust's stock valued at $86,847,000 after buying an additional 2,353,582 shares during the period. 1832 Asset Management L.P. acquired a new position in shares of Brixmor Property Group in the first quarter valued at approximately $16,964,000. SG Americas Securities LLC boosted its holdings in Brixmor Property Group by 115.8% in the first quarter. SG Americas Securities LLC now owns 136,678 shares of the real estate investment trust's stock valued at $3,205,000 after acquiring an additional 73,335 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in Brixmor Property Group in the first quarter valued at approximately $124,978,000. Institutional investors and hedge funds own 98.43% of the company's stock.

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.