Brixmor Property Group (NYSE:BRX) PT Lowered to $26.00 at Piper Sandler

Brixmor Property Group (NYSE:BRXGet Rating) had its target price dropped by Piper Sandler to $26.00 in a research note issued on Monday, Stock Target Advisor reports. Piper Sandler’s price objective would indicate a potential upside of 26.46% from the company’s current price.

A number of other brokerages have also issued reports on BRX. Truist Financial dropped their target price on shares of Brixmor Property Group from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, June 21st. TheStreet cut Brixmor Property Group from a “b-” rating to a “c+” rating in a research note on Monday, May 23rd. Jefferies Financial Group downgraded Brixmor Property Group from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $29.00 to $20.00 in a research report on Thursday. Credit Suisse Group initiated coverage on Brixmor Property Group in a research report on Wednesday, June 22nd. They set an “outperform” rating and a $23.00 price target for the company. Finally, KeyCorp reduced their price target on Brixmor Property Group from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Brixmor Property Group currently has a consensus rating of “Hold” and an average price target of $25.69.

Shares of BRX traded up $0.35 during midday trading on Monday, hitting $20.56. The stock had a trading volume of 250,102 shares, compared to its average volume of 2,695,439. Brixmor Property Group has a fifty-two week low of $19.42 and a fifty-two week high of $27.19. The business has a 50-day simple moving average of $22.89 and a two-hundred day simple moving average of $24.44. The firm has a market cap of $6.16 billion, a P/E ratio of 20.98, a price-to-earnings-growth ratio of 1.45 and a beta of 1.55. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 1.81.

Brixmor Property Group (NYSE:BRXGet Rating) last posted its quarterly earnings results on Monday, May 2nd. The real estate investment trust reported $0.26 EPS for the quarter, topping the consensus estimate of $0.20 by $0.06. Brixmor Property Group had a net margin of 25.39% and a return on equity of 10.92%. During the same quarter in the previous year, the company earned $0.44 earnings per share. On average, analysts expect that Brixmor Property Group will post 1.94 earnings per share for the current fiscal year.

In related news, insider Brian T. Finnegan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $25.14, for a total transaction of $125,700.00. Following the transaction, the insider now owns 145,682 shares of the company’s stock, valued at $3,662,445.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO James M. Taylor, Jr. sold 20,000 shares of the stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $26.50, for a total transaction of $530,000.00. Following the completion of the sale, the chief executive officer now directly owns 506,661 shares of the company’s stock, valued at approximately $13,426,516.50. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

Several hedge funds have recently bought and sold shares of BRX. Vanguard Group Inc. raised its position in shares of Brixmor Property Group by 0.8% in the first quarter. Vanguard Group Inc. now owns 45,190,584 shares of the real estate investment trust’s stock valued at $1,166,369,000 after purchasing an additional 369,401 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Brixmor Property Group by 17.5% in the 4th quarter. JPMorgan Chase & Co. now owns 30,237,387 shares of the real estate investment trust’s stock valued at $768,332,000 after purchasing an additional 4,493,274 shares in the last quarter. Wellington Management Group LLP lifted its position in Brixmor Property Group by 99.4% during the 1st quarter. Wellington Management Group LLP now owns 20,119,950 shares of the real estate investment trust’s stock worth $519,296,000 after buying an additional 10,028,534 shares in the last quarter. State Street Corp lifted its position in Brixmor Property Group by 13.6% during the 1st quarter. State Street Corp now owns 16,686,118 shares of the real estate investment trust’s stock worth $430,669,000 after buying an additional 2,001,159 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Brixmor Property Group by 2.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,613,457 shares of the real estate investment trust’s stock worth $273,934,000 after purchasing an additional 245,316 shares during the last quarter. Institutional investors and hedge funds own 98.35% of the company’s stock.

Brixmor Property Group Company Profile (Get Rating)

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 395 retail centers comprise approximately 69 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.

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