Brixmor Property Group (NYSE:BRX) Sets New 1-Year High – Still a Buy?

Shares of Brixmor Property Group Inc. (NYSE:BRX) hit a new 52-week high during trading on Wednesday . The stock traded as high as $28.88 and last traded at $28.78, with a volume of 34443 shares changing hands. The stock had previously closed at $28.33.

Analyst Ratings Changes

BRX has been the subject of a number of analyst reports. Compass Point boosted their price objective on Brixmor Property Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Stifel Nicolaus raised their target price on Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. StockNews.com cut shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Piper Sandler restated an “overweight” rating and issued a $33.00 target price (up previously from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.54.

Brixmor Property Group Trading Up 0.3 %

The stock has a market cap of $8.58 billion, a PE ratio of 26.31, a PEG ratio of 4.56 and a beta of 1.57. The company has a debt-to-equity ratio of 1.85, a quick ratio of 1.38 and a current ratio of 1.38. The business has a 50-day moving average of $27.62 and a 200 day moving average of $24.91.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.21). The company had revenue of $320.68 million for the quarter, compared to analyst estimates of $320.22 million. Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. Equities research analysts predict that Brixmor Property Group Inc. will post 2.14 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.287 per share. The ex-dividend date of this dividend is Friday, January 3rd. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 annualized dividend and a yield of 4.04%. Brixmor Property Group’s dividend payout ratio is currently 100.93%.

Insider Activity

In related news, Director Sheryl Maxwell Crosland sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total transaction of $127,250.00. Following the transaction, the director now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.76% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Norden Group LLC bought a new position in Brixmor Property Group during the first quarter worth $640,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Brixmor Property Group by 8.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,059 shares of the real estate investment trust’s stock worth $353,000 after acquiring an additional 1,139 shares during the period. Larson Financial Group LLC bought a new position in Brixmor Property Group in the first quarter worth about $47,000. Texas Permanent School Fund Corp raised its position in shares of Brixmor Property Group by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 263,078 shares of the real estate investment trust’s stock worth $6,169,000 after purchasing an additional 3,518 shares during the period. Finally, Duality Advisers LP lifted its stake in Brixmor Property Group by 57.8% in the first quarter. Duality Advisers LP now owns 34,747 shares of the real estate investment trust’s stock valued at $815,000 after buying an additional 12,725 shares during the last quarter. Institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Company Profile

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.