Scotiabank Cuts Brixmor Property Group (NYSE:BRX) Price Target to $29.00

Brixmor Property Group (NYSE:BRX - Get Free Report) had its price objective lowered by investment analysts at Scotiabank from $30.00 to $29.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the real estate investment trust's stock. Scotiabank's price objective suggests a potential upside of 9.15% from the company's previous close.

A number of other analysts have also commented on BRX. Evercore ISI raised Brixmor Property Group from an "in-line" rating to an "outperform" rating and set a $31.00 price target on the stock in a research note on Tuesday, February 11th. Mizuho lowered their price objective on Brixmor Property Group from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Tuesday, February 25th. The Goldman Sachs Group lowered their price objective on Brixmor Property Group from $33.00 to $29.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus lowered their target price on Brixmor Property Group from $31.75 to $31.25 and set a "hold" rating for the company in a report on Tuesday, February 11th. Finally, Jefferies Financial Group raised Brixmor Property Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $28.00 to $33.00 in a research note on Friday, February 14th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.40.

Brixmor Property Group Price Performance

Shares of BRX traded up $0.42 during trading hours on Monday, hitting $26.57. 1,450,051 shares of the company were exchanged, compared to its average volume of 2,189,185. The firm's fifty day moving average is $25.43 and its 200 day moving average is $26.94. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 2.66 and a beta of 1.25. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.79. Brixmor Property Group has a fifty-two week low of $21.32 and a fifty-two week high of $30.67.

Brixmor Property Group (NYSE:BRX - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The real estate investment trust reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.01. The business had revenue of $337.51 million for the quarter, compared to analyst estimates of $329.81 million. Brixmor Property Group had a return on equity of 11.72% and a net margin of 26.40%. Brixmor Property Group's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. On average, equities analysts anticipate that Brixmor Property Group will post 2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Park Avenue Securities LLC raised its holdings in shares of Brixmor Property Group by 95.0% in the 4th quarter. Park Avenue Securities LLC now owns 25,852 shares of the real estate investment trust's stock valued at $720,000 after acquiring an additional 12,593 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Brixmor Property Group in the 4th quarter valued at about $620,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Brixmor Property Group by 38.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 218,145 shares of the real estate investment trust's stock valued at $6,073,000 after purchasing an additional 60,567 shares during the last quarter. Invesco Ltd. increased its position in shares of Brixmor Property Group by 61.1% during the 4th quarter. Invesco Ltd. now owns 5,748,492 shares of the real estate investment trust's stock valued at $160,038,000 after purchasing an additional 2,180,541 shares during the last quarter. Finally, Wealthfront Advisers LLC bought a new position in shares of Brixmor Property Group during the 4th quarter valued at about $1,699,000. Hedge funds and other institutional investors own 98.43% of the company's stock.

About Brixmor Property Group

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.