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 morning, 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. “

BRX has been the topic of several other reports. BMO Capital Markets lowered shares of Brixmor Property Group from a market perform rating to an underperform rating and set a $19.00 price target on the stock. in a research note on Tuesday. ValuEngine downgraded shares of Brixmor Property Group from a sell rating to a strong sell rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. upgraded shares of Brixmor Property Group from a neutral rating to an overweight rating and boosted their price objective for the stock from $22.00 to $24.00 in a research report on Wednesday, December 18th. KeyCorp upped their target price on shares of Brixmor Property Group from $22.00 to $24.00 and gave the company an overweight rating in a report on Tuesday, November 5th. Finally, Evercore ISI lowered shares of Brixmor Property Group from an outperform rating to an in-line rating in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Brixmor Property Group has an average rating of Hold and a consensus price target of $20.80.

Brixmor Property Group stock opened at $20.22 on Tuesday. Brixmor Property Group has a 1-year low of $15.56 and a 1-year high of $22.74. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market cap of $5.95 billion, a PE ratio of 10.93, a P/E/G ratio of 2.38 and a beta of 0.72. The stock’s fifty day moving average is $21.35 and its two-hundred day moving average is $20.01.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.20). The business had revenue of $292.97 million for the quarter, compared to analyst estimates of $290.51 million. Brixmor Property Group had a return on equity of 10.41% and a net margin of 24.75%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 earnings per share. On average, research analysts expect that Brixmor Property Group will post 1.92 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, January 6th will be given a dividend of $0.285 per share. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, January 3rd. This represents a $1.14 annualized dividend and a yield of 5.64%. Brixmor Property Group’s payout ratio is 61.62%.

In related news, insider Steven F. Siegel sold 7,500 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $21.37, for a total transaction of $160,275.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian T. Finnegan sold 3,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $22.24, for a total transaction of $66,720.00. Following the transaction, the insider now directly owns 224,646 shares in the company, valued at $4,996,127.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,000 shares of company stock valued at $455,070. 0.40% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the company. Huntington National Bank purchased a new position in shares of Brixmor Property Group during the third quarter worth about $26,000. Institutional & Family Asset Management LLC purchased a new position in shares of Brixmor Property Group in the 3rd quarter valued at approximately $55,000. Phocas Financial Corp. acquired a new position in shares of Brixmor Property Group in the second quarter valued at approximately $5,287,000. First Quadrant L P CA increased its holdings in shares of Brixmor Property Group by 1,263.2% in the third quarter. First Quadrant L P CA now owns 3,040 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 2,817 shares during the period. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of Brixmor Property Group during the second quarter worth approximately $82,000. 99.20% of the stock is owned by institutional investors and hedge funds.

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 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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