Brixmor Property Group (NYSE:BRX) PT Lowered to $23.00 at Wells Fargo & Company

Brixmor Property Group (NYSE:BRX) had its price objective reduced by investment analysts at Wells Fargo & Company from $24.00 to $23.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 10.47% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. StockNews.com started coverage on shares of Brixmor Property Group in a report on Thursday, October 5th. They set a “hold” rating for the company. Stifel Nicolaus cut their target price on Brixmor Property Group from $24.50 to $22.75 and set a “hold” rating for the company in a research note on Tuesday, October 31st. Mizuho lifted their target price on Brixmor Property Group from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. Scotiabank upgraded Brixmor Property Group from a “sector perform” rating to a “sector outperform” rating and set a $25.00 price target for the company in a report on Tuesday, September 5th. Finally, Truist Financial reissued a “buy” rating and set a $25.00 price objective on shares of Brixmor Property Group in a research report on Monday, August 21st. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.

Brixmor Property Group Trading Down 1.1 %

Shares of BRX traded down $0.23 during mid-day trading on Monday, reaching $20.82. The stock had a trading volume of 122,998 shares, compared to its average volume of 2,310,221. Brixmor Property Group has a 52-week low of $19.40 and a 52-week high of $24.26. The firm has a market cap of $6.26 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 1.70 and a beta of 1.60. The business’s fifty day moving average is $21.04 and its 200 day moving average is $21.39. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.55 and a quick ratio of 0.55.

Hedge Funds Weigh In On Brixmor Property Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Belpointe Asset Management LLC lifted its position in shares of Brixmor Property Group by 42.9% during the first quarter. Belpointe Asset Management LLC now owns 1,931 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 580 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in Brixmor Property Group during the 1st quarter worth approximately $43,000. Covestor Ltd lifted its holdings in Brixmor Property Group by 170.2% during the 1st quarter. Covestor Ltd now owns 1,840 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 1,159 shares in the last quarter. Fifth Third Bancorp boosted its position in Brixmor Property Group by 27.9% in the 3rd quarter. Fifth Third Bancorp now owns 2,454 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 535 shares during the period. Finally, Trivant Custom Portfolio Group LLC purchased a new position in Brixmor Property Group in the 1st quarter valued at approximately $54,000. 94.98% of the stock is currently owned by hedge funds and other institutional investors.

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 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.