Scotiabank Increases Brixmor Property Group (NYSE:BRX) Price Target to $31.00

Key Points

• Scotiabank has raised its price target for Brixmor Property Group from $30.00 to $31.00, indicating a potential upside of 10.62% based on the stock's previous close.
• The company reported a quarterly earnings of $0.56 per share, exceeding analysts' estimates, with a year-over-year revenue increase of 7.5%.
• A significant 98.43% of Brixmor's stock is owned by institutional investors, reflecting strong institutional backing in the company.

Brixmor Property Group (NYSE:BRX - Free Report) had its price target boosted by Scotiabank from $30.00 to $31.00 in a research report released on Monday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the real estate investment trust's stock.

Several other brokerages have also recently issued reports on BRX. Mizuho lifted their price objective on shares of Brixmor Property Group from $29.00 to $30.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 20th. Wells Fargo & Company raised their target price on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. Stifel Nicolaus decreased their price target on shares of Brixmor Property Group from $29.50 to $29.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. UBS Group began coverage on shares of Brixmor Property Group in a research report on Friday, May 30th. They set a "buy" rating and a $29.00 price objective on the stock. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Brixmor Property Group in a research report on Tuesday, September 9th. They issued a "buy" rating and a $32.00 price target on the stock. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Brixmor Property Group has a consensus rating of "Moderate Buy" and an average target price of $30.75.

Brixmor Property Group Stock Performance

Shares of Brixmor Property Group stock traded down $0.30 during trading hours on Monday, reaching $27.55. The company's stock had a trading volume of 819,892 shares, compared to its average volume of 2,337,916. The company's 50 day simple moving average is $26.82 and its 200 day simple moving average is $26.01. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.74 and a current ratio of 0.74. Brixmor Property Group has a one year low of $22.28 and a one year high of $30.67. The stock has a market cap of $8.43 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 2.63 and a beta of 1.32.

Brixmor Property Group (NYSE:BRX - Get Free Report) last released its earnings results on Monday, July 28th. The real estate investment trust reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. The firm had revenue of $339.40 million for the quarter, compared to analysts' expectations of $332.59 million. Brixmor Property Group had a net margin of 25.27% and a return on equity of 11.39%. Brixmor Property Group's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. Brixmor Property Group has set its FY 2025 guidance at 2.220-2.250 EPS. As a group, analysts expect that Brixmor Property Group will post 2.22 EPS for the current fiscal year.

Brixmor Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be issued a $0.2875 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $1.15 annualized dividend and a yield of 4.2%. Brixmor Property Group's dividend payout ratio (DPR) is 104.55%.

Insider Activity at Brixmor Property Group

In other news, insider Steven F. Siegel sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $28.21, for a total value of $705,250.00. Following the completion of the transaction, the insider owned 302,657 shares in the company, valued at $8,537,953.97. This trade represents a 7.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Securian Asset Management Inc. grew its holdings in Brixmor Property Group by 1.8% in the 1st quarter. Securian Asset Management Inc. now owns 23,235 shares of the real estate investment trust's stock valued at $617,000 after buying an additional 400 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Brixmor Property Group by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 86,100 shares of the real estate investment trust's stock worth $2,242,000 after purchasing an additional 400 shares in the last quarter. State of Michigan Retirement System lifted its stake in shares of Brixmor Property Group by 0.5% during the second quarter. State of Michigan Retirement System now owns 73,607 shares of the real estate investment trust's stock worth $1,917,000 after purchasing an additional 400 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Brixmor Property Group by 4.7% during the second quarter. Janney Montgomery Scott LLC now owns 10,073 shares of the real estate investment trust's stock worth $262,000 after purchasing an additional 451 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Brixmor Property Group by 6.0% during the first quarter. US Bancorp DE now owns 8,548 shares of the real estate investment trust's stock worth $227,000 after purchasing an additional 484 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company's stock.

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.