Scotiabank Lowers Brixmor Property Group (NYSE:BRX) to Sector Perform

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Scotiabank cut shares of Brixmor Property Group (NYSE:BRX) from an outperform rating to a sector perform rating in a research note released on Friday, BenzingaRatingsTable reports. They currently have $19.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $20.00.

A number of other brokerages have also commented on BRX. Stifel Nicolaus boosted their price target on shares of Brixmor Property Group from $17.50 to $18.00 and gave the company a hold rating in a research note on Tuesday, April 30th. Zacks Investment Research upgraded shares of Brixmor Property Group from a hold rating to a buy rating and set a $21.00 price target for the company in a research note on Wednesday, August 14th. KeyCorp set a $20.00 price target on shares of Brixmor Property Group and gave the company a buy rating in a research note on Wednesday, June 19th. BMO Capital Markets restated a hold rating and set a $17.00 price target on shares of Brixmor Property Group in a research note on Wednesday, July 31st. Finally, ValuEngine lowered shares of Brixmor Property Group from a hold rating to a sell rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Brixmor Property Group presently has an average rating of Hold and an average price target of $19.00.

Shares of BRX stock opened at $18.51 on Friday. The firm has a market capitalization of $5.48 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 2.15 and a beta of 0.74. The firm has a fifty day simple moving average of $18.37 and a two-hundred day simple moving average of $17.99. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.78. Brixmor Property Group has a 12 month low of $14.11 and a 12 month high of $19.20.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.24). The business had revenue of $291.00 million for the quarter, compared to the consensus estimate of $286.99 million. Brixmor Property Group had a net margin of 30.07% and a return on equity of 12.66%. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. On average, equities analysts predict that Brixmor Property Group will post 1.9 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend is Thursday, October 3rd. Brixmor Property Group’s dividend payout ratio is 60.54%.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan boosted its holdings in Brixmor Property Group by 1.0% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 55,210 shares of the real estate investment trust’s stock worth $987,000 after acquiring an additional 550 shares during the last quarter. Private Advisor Group LLC boosted its holdings in Brixmor Property Group by 2.8% during the 2nd quarter. Private Advisor Group LLC now owns 23,469 shares of the real estate investment trust’s stock worth $420,000 after acquiring an additional 643 shares during the last quarter. Profund Advisors LLC boosted its holdings in Brixmor Property Group by 2.0% during the 2nd quarter. Profund Advisors LLC now owns 44,044 shares of the real estate investment trust’s stock worth $788,000 after acquiring an additional 849 shares during the last quarter. Zeke Capital Advisors LLC boosted its holdings in Brixmor Property Group by 1.0% during the 2nd quarter. Zeke Capital Advisors LLC now owns 85,833 shares of the real estate investment trust’s stock worth $1,535,000 after acquiring an additional 883 shares during the last quarter. Finally, Glen Harbor Capital Management LLC boosted its holdings in Brixmor Property Group by 0.4% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 325,920 shares of the real estate investment trust’s stock worth $5,827,000 after acquiring an additional 1,168 shares during the last quarter. 99.61% 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 425 retail centers comprise approximately 74 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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Analyst Recommendations for Brixmor Property Group (NYSE:BRX)

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