Truist Financial Forecasts Strong Price Appreciation for Brixmor Property Group (NYSE:BRX) Stock

Brixmor Property Group (NYSE:BRX) had its target price lifted by equities research analysts at Truist Financial from $28.00 to $31.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Truist Financial’s price target suggests a potential upside of 7.53% from the company’s current price.

BRX has been the topic of several other reports. Wells Fargo & Company boosted their price objective on Brixmor Property Group from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 28th. Scotiabank raised their price target on Brixmor Property Group from $25.00 to $29.00 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Piper Sandler reaffirmed an “overweight” rating and set a $33.00 price objective (up from $30.00) on shares of Brixmor Property Group in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Compass Point lifted their price target on shares of Brixmor Property Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.13.

Brixmor Property Group Stock Up 0.5 %

Shares of BRX opened at $28.83 on Friday. The business’s 50 day simple moving average is $27.80 and its 200-day simple moving average is $25.22. Brixmor Property Group has a 1 year low of $20.80 and a 1 year high of $29.19. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 3.93 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data 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). Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%. The business had revenue of $320.68 million for the quarter, compared to the consensus estimate of $320.22 million. During the same quarter last year, the business earned $0.50 EPS. Brixmor Property Group’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities analysts expect that Brixmor Property Group will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brixmor Property Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Brixmor Property Group by 0.4% in the first quarter. Vanguard Group Inc. now owns 45,662,863 shares of the real estate investment trust’s stock worth $1,070,794,000 after acquiring an additional 165,572 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Brixmor Property Group by 37.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 7,324,870 shares of the real estate investment trust’s stock valued at $169,131,000 after purchasing an additional 1,995,299 shares in the last quarter. Millennium Management LLC lifted its position in shares of Brixmor Property Group by 35.5% in the 2nd quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust’s stock worth $132,443,000 after purchasing an additional 1,501,282 shares during the period. Geode Capital Management LLC lifted its position in shares of Brixmor Property Group by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,615,014 shares of the real estate investment trust’s stock worth $156,473,000 after purchasing an additional 44,485 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Brixmor Property Group by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,959,993 shares of the real estate investment trust’s stock valued at $138,185,000 after purchasing an additional 159,388 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

About Brixmor Property Group

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.