Brixmor Property Group (NYSE:BRX – Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $2.06-2.10 for the period, compared to the consensus estimate of $2.08.
Brixmor Property Group Price Performance
NYSE:BRX traded down $0.21 during trading hours on Monday, reaching $22.55. 3,416,907 shares of the company were exchanged, compared to its average volume of 2,613,135. The business has a 50 day moving average of $22.88 and a 200 day moving average of $21.95. The company has a market capitalization of $6.78 billion, a P/E ratio of 20.32, a P/E/G ratio of 1.83 and a beta of 1.55. Brixmor Property Group has a 1-year low of $19.40 and a 1-year high of $24.47. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.55 and a quick ratio of 0.55.
Analyst Ratings Changes
Several research firms have recently weighed in on BRX. Stifel Nicolaus lowered their price objective on Brixmor Property Group from $24.50 to $22.75 and set a hold rating for the company in a research report on Tuesday, October 31st. Wells Fargo & Company dropped their target price on Brixmor Property Group from $24.00 to $23.00 and set an equal weight rating on the stock in a research report on Monday, November 13th. Mizuho increased their price objective on Brixmor Property Group from $22.00 to $23.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Brixmor Property Group in a research report on Tuesday, January 30th. They issued a buy rating and a $27.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Brixmor Property Group has an average rating of Moderate Buy and an average price target of $25.09.
In other news, insider Brian T. Finnegan sold 7,500 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $23.00, for a total transaction of $172,500.00. Following the completion of the sale, the insider now owns 186,873 shares of the company’s stock, valued at approximately $4,298,079. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Brian T. Finnegan sold 7,500 shares of Brixmor Property Group stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $23.00, for a total transaction of $172,500.00. Following the transaction, the insider now owns 186,873 shares in the company, valued at approximately $4,298,079. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Angela M. Aman sold 10,000 shares of Brixmor Property Group stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the transaction, the chief financial officer now owns 152,054 shares in the company, valued at approximately $3,649,296. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $586,950 in the last 90 days. Company insiders own 0.64% of the company’s stock.
Institutional Trading of Brixmor Property Group
Several hedge funds have recently bought and sold shares of BRX. Wellington Management Group LLP increased its holdings in shares of Brixmor Property Group by 99.4% in 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 during the last quarter. Norges Bank bought a new stake in shares of Brixmor Property Group in the 4th quarter worth about $67,125,000. State Street Corp increased its holdings in shares of Brixmor Property Group by 13.6% in 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 during the last quarter. Balyasny Asset Management L.P. bought a new position in Brixmor Property Group during the 1st quarter valued at about $29,115,000. Finally, Goldman Sachs Group Inc. grew its holdings in Brixmor Property Group by 37.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,343,667 shares of the real estate investment trust’s stock valued at $67,575,000 after purchasing an additional 909,512 shares during the last quarter. Hedge funds and other institutional investors own 94.98% 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 364 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.
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