Brixmor Property Group (BRX) Cut to “Neutral” at Boenning Scattergood

Boenning Scattergood cut shares of Brixmor Property Group (NYSE:BRX) from an outperform rating to a neutral rating in a report released on Thursday, Marketbeat reports.

A number of other equities research analysts have also recently commented on BRX. ValuEngine raised Brixmor Property Group from a hold rating to a buy rating in a research note on Monday, October 2nd. Mizuho lowered Brixmor Property Group from a buy rating to a neutral rating and set a $19.00 target price on the stock. in a report on Monday, December 11th. Royal Bank of Canada reiterated a hold rating and set a $22.00 target price on shares of Brixmor Property Group in a report on Thursday, November 2nd. BMO Capital Markets set a $19.00 target price on Brixmor Property Group and gave the stock a hold rating in a report on Tuesday, December 5th. Finally, Stifel Nicolaus assumed coverage on Brixmor Property Group in a report on Thursday, November 30th. They set a hold rating and a $19.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $21.25.

Shares of Brixmor Property Group (NYSE:BRX) opened at $18.16 on Thursday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.70. Brixmor Property Group has a 52 week low of $17.23 and a 52 week high of $25.34. The company has a market capitalization of $5,534.61, a price-to-earnings ratio of 8.60, a P/E/G ratio of 1.96 and a beta of 0.52.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.24). Brixmor Property Group had a return on equity of 11.08% and a net margin of 25.14%. The company had revenue of $314.50 million for the quarter, compared to analyst estimates of $317.31 million. During the same period last year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. analysts anticipate that Brixmor Property Group will post 2.08 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Thursday, January 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, January 3rd. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.26. This represents a $1.10 annualized dividend and a yield of 6.06%. Brixmor Property Group’s payout ratio is currently 98.11%.

Brixmor Property Group declared that its board has authorized a stock buyback program on Tuesday, December 5th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

In other Brixmor Property Group news, EVP Mark Horgan bought 3,000 shares of Brixmor Property Group stock in a transaction on Friday, November 3rd. The shares were purchased at an average cost of $17.64 per share, for a total transaction of $52,920.00. Following the completion of the acquisition, the executive vice president now owns 56,703 shares in the company, valued at approximately $1,000,240.92. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.27% of the company’s stock.

A number of hedge funds have recently bought and sold shares of BRX. Public Employees Retirement Association of Colorado lifted its holdings in shares of Brixmor Property Group by 58.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 9,603 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 3,538 shares in the last quarter. NGAM Advisors L.P. lifted its holdings in shares of Brixmor Property Group by 70.8% in the second quarter. NGAM Advisors L.P. now owns 23,646 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 9,802 shares in the last quarter. World Asset Management Inc lifted its holdings in shares of Brixmor Property Group by 15.7% in the second quarter. World Asset Management Inc now owns 15,037 shares of the real estate investment trust’s stock valued at $269,000 after purchasing an additional 2,042 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Brixmor Property Group by 83.5% in the second quarter. Canada Pension Plan Investment Board now owns 91,200 shares of the real estate investment trust’s stock valued at $1,631,000 after purchasing an additional 41,500 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Brixmor Property Group by 3.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,183,228 shares of the real estate investment trust’s stock valued at $39,037,000 after purchasing an additional 79,331 shares in the last quarter. Hedge funds and other institutional investors own 98.57% of the company’s stock.

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Brixmor Property Group Company Profile

Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.

Analyst Recommendations for Brixmor Property Group (NYSE:BRX)

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