Brixmor Property Group (NYSE:BRX) Updates FY23 Earnings Guidance

Brixmor Property Group (NYSE:BRX) updated its FY23 earnings guidance on Monday. The company provided earnings per share guidance of $2.02-2.04 for the period, compared to the consensus earnings per share estimate of $2.03.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Brixmor Property Group from $21.00 to $23.00 and gave the company an equal weight rating in a research note on Monday, August 7th. The Goldman Sachs Group upgraded shares of Brixmor Property Group from a neutral rating to a buy rating and lifted their price objective for the company from $23.00 to $27.00 in a research note on Wednesday, August 16th. Scotiabank upgraded shares of Brixmor Property Group from a sector perform rating to a sector outperform rating and set a $25.00 price objective for the company in a research note on Tuesday, September 5th. StockNews.com began coverage on shares of Brixmor Property Group in a research note on Thursday, October 5th. They issued a hold rating for the company. Finally, Truist Financial restated a buy rating and set a $25.00 price target on shares of Brixmor Property Group in a research note on Monday, August 21st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $25.75.

Brixmor Property Group Stock Performance

Shares of BRX stock opened at $20.18 on Tuesday. The firm has a market capitalization of $6.06 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.61 and a beta of 1.58. The firm has a fifty day simple moving average of $21.13 and a two-hundred day simple moving average of $21.36. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.71. Brixmor Property Group has a 12 month low of $19.40 and a 12 month high of $24.26.

Hedge Funds Weigh In On Brixmor Property Group

A number of hedge funds have recently bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new stake in shares of Brixmor Property Group in the 1st quarter worth $43,000. Covestor Ltd grew its stake in shares of Brixmor Property Group by 170.2% in the 1st quarter. Covestor Ltd now owns 1,840 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 1,159 shares in the last quarter. Belpointe Asset Management LLC grew its stake in shares of Brixmor Property Group by 42.9% in the 1st quarter. Belpointe Asset Management LLC now owns 1,931 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 580 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of Brixmor Property Group in the 2nd quarter worth $80,000. Finally, Quantbot Technologies LP bought a new stake in shares of Brixmor Property Group in the 2nd quarter worth $88,000. 94.98% of the stock is owned by hedge funds and other institutional investors.

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 365 retail centers comprise approximately 65 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.