Zacks Investment Research Lowers Brixmor Property Group (NYSE:BRX) to Hold

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Zacks Investment Research downgraded shares of Brixmor Property Group (NYSE:BRX) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Brixmor Property Group Inc. operates as a real estate investment trust. It owns and operates a portfolio of grocery-anchored community and neighborhood shopping centers primarily in the United States. Brixmor Property Group Inc. is based in United States. “

A number of other research firms have also recently weighed in on BRX. KeyCorp set a $20.00 price target on Brixmor Property Group and gave the company a buy rating in a report on Wednesday, June 19th. Stifel Nicolaus raised their price target on Brixmor Property Group from $17.50 to $18.00 and gave the company a hold rating in a report on Tuesday, April 30th. Compass Point began coverage on Brixmor Property Group in a report on Thursday, August 15th. They set a neutral rating and a $19.00 price target for the company. Scotiabank cut Brixmor Property Group from an outperform rating to a sector perform rating and dropped their price target for the company from $20.00 to $19.00 in a report on Friday, August 16th. Finally, BMO Capital Markets reaffirmed a hold rating and set a $17.00 price target on shares of Brixmor Property Group in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Brixmor Property Group currently has an average rating of Hold and a consensus target price of $19.00.

Brixmor Property Group stock opened at $18.49 on Tuesday. The business has a 50 day simple moving average of $18.43 and a 200 day simple moving average of $18.01. Brixmor Property Group has a one year low of $14.11 and a one year high of $19.20. The company has a market capitalization of $5.47 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 2.15 and a beta of 0.74. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.47 and a quick ratio of 0.47.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.24). Brixmor Property Group had a net margin of 30.07% and a return on equity of 12.66%. The business had revenue of $291.00 million for the quarter, compared to analyst estimates of $286.99 million. During the same period in the prior year, the business earned $0.51 earnings per share. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities analysts anticipate that Brixmor Property Group will post 1.9 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, October 4th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 6.06%. Brixmor Property Group’s dividend payout ratio is 60.54%.

In other news, Director James M. Taylor, Jr. bought 7,500 shares of the stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $18.50 per share, with a total value of $138,750.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mason Street Advisors LLC acquired a new stake in shares of Brixmor Property Group in the 1st quarter valued at $2,917,000. Rhumbline Advisers increased its stake in shares of Brixmor Property Group by 144.2% in the 1st quarter. Rhumbline Advisers now owns 772,347 shares of the real estate investment trust’s stock valued at $14,188,000 after buying an additional 456,087 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Brixmor Property Group in the 1st quarter valued at $966,000. First Trust Advisors LP increased its stake in shares of Brixmor Property Group by 19.7% in the 1st quarter. First Trust Advisors LP now owns 800,573 shares of the real estate investment trust’s stock valued at $14,707,000 after buying an additional 131,654 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of Brixmor Property Group by 73.1% in the 1st quarter. SG Americas Securities LLC now owns 81,075 shares of the real estate investment trust’s stock valued at $1,489,000 after buying an additional 34,229 shares during the period. 99.61% of the stock is owned by 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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