Brixmor Property Group (NYSE:BRX) PT lowered to $26.00 at Piper Sandler

Brixmor Real Estate Group (NYSE: BRX – Get a rating) saw its target price drop by Piper Sandler to $26.00 in a research note released on Monday, Target Stock Advisor reports. Piper Sandler’s price target would indicate a potential upside of 26.46% from the company’s current price.

A number of other brokerages have also published reports on BRX. Truist Financial lowered its price target on shares of Brixmor Property Group from $29.00 to $26.00 and set a “buy” rating on the stock in a Tuesday, June 21 research report. TheStreet upgraded Brixmor Property Group from a “b-” rating to a “c+” rating in a Monday May 23 research note. Jefferies Financial Group downgraded Brixmor Property Group from a “hold” rating to an “underperform” rating and lowered its price target for the stock from $29.00 to $20.00 in a research report on Thursday. Credit Suisse Group launched coverage on Brixmor Property Group in a research report on Wednesday June 22. They set an “outperform” rating and a price target of $23.00 for the company. Finally, KeyCorp cut its price target on Brixmor Property Group from $29.00 to $26.00 and set an “overweight” rating for the company in a Tuesday, June 28 research report. One research analyst rated the stock with a sell rating, six issued a hold rating and seven issued a buy rating for the company’s stock. Based on MarketBeat data, Brixmor Property Group currently has a consensus rating of “Hold” and an average price target of $25.69.

Shares of BRX rose $0.35 during midday trading on Monday, hitting $20.56. The stock recorded a trading volume of 250,102 shares, compared to an average volume of 2,695,439 shares. Brixmor Property Group has a fifty-two week low of $19.42 and a fifty-two week high of $27.19. The company has a 50-day simple moving average of $22.89 and a two-hundred-day simple moving average of $24.44. The company has a market capitalization of $6.16 billion, a P/E ratio of 20.98, a price-to-earnings growth ratio of 1.45 and a beta of 1.55. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt ratio of 1.81.

Brixmor Real Estate Group (NYSE: BRX – Get a rating) last released its quarterly results on Monday, May 2. The real estate investment trust reported EPS of $0.26 for the quarter, beating the consensus estimate of $0.20 by $0.06. Brixmor Property Group had a net margin of 25.39% and a return on equity of 10.92%. In the same quarter of the previous year, the company had earned earnings per share of $0.44. On average, analysts expect Brixmor Property Group to post earnings per share of 1.94 for the current financial year.

Separately, insider Brian T. Finnegan sold 5,000 shares of the company in a trade that took place on Monday, May 2. The shares were sold at an average price of $25.14, for a total transaction of $125,700.00. Following the transaction, the insider now owns 145,682 shares of the company, valued at $3,662,445.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Also, CEO James M. Taylor, Jr. sold 20,000 shares in a trade on Tuesday, April 19. The stock was sold at an average price of $26.50, for a total transaction of $530,000.00. Following the completion of the sale, the CEO now directly owns 506,661 shares of the company, valued at approximately $13,426,516.50. Disclosure of this sale can be found here. Company insiders own 0.64% of the company’s shares.

Several hedge funds have been buying and selling shares of BRX recently. Vanguard Group Inc. raised its position in shares of Brixmor Property Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 45,190,584 shares of the real estate investment trust worth $1,166,369,000 after purchasing an additional 369,401 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Brixmor Property Group by 17.5% in the fourth quarter. JPMorgan Chase & Co. now owns 30,237,387 shares of the real estate investment trust worth $768,332,000 after buying an additional 4,493,274 shares last quarter. Wellington Management Group LLP increased its position in Brixmor Property Group by 99.4% during the 1st quarter. Wellington Management Group LLP now owns 20,119,950 shares of the real estate investment trust worth $519,296,000 after purchasing an additional 10,028,534 shares in the last quarter. State Street Corp increased its position in Brixmor Property Group by 13.6% in Q1. State Street Corp now owns 16,686,118 shares of the real estate investment trust worth $430,669,000 after buying an additional 2,001,159 shares last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Brixmor Property Group by 2.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,613,457 shares of the real estate investment trust worth $273,934,000 after purchasing an additional 245,316 shares in the last quarter. Institutional investors and hedge funds own 98.35% of the company’s shares.

Brixmor Property Group Company Profile (Get a rating)

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality national portfolio of outdoor shopping centers. Its 395 retail centers comprise approximately 69 million square feet of prime retail space in established shopping areas. The Company strives to own and operate shopping centers that reflect Brixmor’s vision of “being the center of the communities we serve” and are home to a diverse mix of thriving national, regional and local retailers.

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Analyst Recommendations for Brixmor Property Group (NYSE: BRX)

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