Brixmor Property Group (NYSE:BRX) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Brixmor shares rose above their 200-day moving average, trading as high as $30.37 and last changing hands at $30.248, up 2.8%.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $32.95; recent target cuts included Mizuho’s reduction to $30 and UBS’s to $33.
• The REIT’s latest quarterly EPS of $0.28 missed the $0.59 consensus, although revenue of $359.6 million topped estimates and grew 5.5% year over year. Brixmor also raised its quarterly dividend to $0.33 per share, a 4.4% annualized yield.

Brixmor Property Group Inc. (NYSE:BRX - Get Free Report)'s share price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $29.58 and traded as high as $30.37. Brixmor Property Group shares last traded at $30.2480, with a volume of 4,580,711 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Mizuho reduced their price objective on shares of Brixmor Property Group from $33.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday, September 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Brixmor Property Group in a research report on Thursday, October 29th. Truist Financial assumed coverage on shares of Brixmor Property Group in a research report on Friday, October 2nd. They issued a "buy" rating and a $31.00 price target on the stock. UBS Group cut their price target on Brixmor Property Group from $37.00 to $33.00 and set a "buy" rating for the company in a research note on Friday, October 9th. Finally, Wells Fargo & Company raised Brixmor Property Group to a "hold" rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Brixmor Property Group has a consensus rating of "Moderate Buy" and an average price target of $32.95.

Brixmor Property Group Trading Up 2.8%

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.76. The firm has a market cap of $9.28 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 2.27 and a beta of 0.95. The firm's 50-day simple moving average is $28.25 and its 200 day simple moving average is $29.58.

Brixmor Property Group (NYSE:BRX - Get Free Report) last released its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $0.28 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.31). Brixmor Property Group had a return on equity of 14.10% and a net margin of 29.96%. The business had revenue of $359.60 million during the quarter, compared to the consensus estimate of $357.28 million. During the same period last year, the business posted $0.56 earnings per share. The firm's quarterly revenue was up 5.5% on a year-over-year basis. As a group, analysts expect that Brixmor Property Group Inc. will post 2.37 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, January 5th will be issued a dividend of $0.33 per share. This is a boost from Brixmor Property Group's previous quarterly dividend of $0.3075. The ex-dividend date of this dividend is Tuesday, January 5th. This represents a $1.32 dividend on an annualized basis and a yield of 4.4%. Brixmor Property Group's payout ratio is currently 96.35%.

Institutional Trading of Brixmor Property Group

Several institutional investors and hedge funds have recently modified their holdings of BRX. Integrated Wealth Concepts LLC bought a new stake in shares of Brixmor Property Group in the 2nd quarter valued at about $26,000. Parkside Financial Bank & Trust increased its position in Brixmor Property Group by 103.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 876 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 446 shares during the period. Cassaday & Co Wealth Management LLC bought a new position in Brixmor Property Group in the first quarter worth about $26,000. Jones Financial Companies Lllp bought a new position in shares of Brixmor Property Group in the 2nd quarter worth approximately $29,000. Finally, Allworth Financial LP purchased a new position in Brixmor Property Group during the second quarter valued at $29,000. Hedge funds and other institutional investors own 98.43% of the company's stock.

About Brixmor Property Group

Brixmor Property Group Inc NYSE: BRX is a real estate investment trust that owns and operates open-air shopping centers across the United States. Its portfolio is primarily focused on grocery-anchored community and neighborhood centers located in established, densely populated markets.

The company leases retail space to a diverse mix of tenants, including grocery stores, restaurants, service businesses, health and wellness providers, and other essential retailers. Brixmor also manages property operations and pursues redevelopment, re-tenanting, and leasing initiatives designed to enhance the functionality and long-term value of its shopping centers.

Brixmor became a publicly traded company in 2013 after being separated from an ownership structure associated with Blackstone.

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