Brixmor Property Group (NYSE:BRX)‘s stock had its “overweight” rating reissued by equities researchers at JPMorgan Chase & Co. in a report issued on Tuesday, February 20th. They presently have a $20.00 target price on the real estate investment trust’s stock, down from their prior target price of $21.00. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 30.29% from the company’s current price.
BRX has been the subject of a number of other reports. Mizuho reiterated a “buy” rating and issued a $19.50 price target on shares of Brixmor Property Group in a research note on Friday, November 10th. Boenning Scattergood cut Brixmor Property Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 14th. Zacks Investment Research cut Brixmor Property Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Mitsubishi UFJ Financial Group upgraded Brixmor Property Group from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 3rd. Finally, Citigroup upgraded Brixmor Property Group to an “overweight” rating and lifted their price target for the company from $19.00 to $21.00 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $18.40.
Brixmor Property Group (NYSE:BRX) traded down $0.19 on Tuesday, hitting $15.35. The stock had a trading volume of 3,735,093 shares, compared to its average volume of 4,090,754. Brixmor Property Group has a fifty-two week low of $13.74 and a fifty-two week high of $22.19. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.95. The company has a market cap of $4,783.85, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 1.95 and a beta of 0.38.
Brixmor Property Group announced that its board has approved a share buyback plan on Tuesday, December 5th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, EVP Mark Horgan acquired 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were purchased at an average price of $14.94 per share, for a total transaction of $67,230.00. Following the acquisition, the executive vice president now owns 62,769 shares of the company’s stock, valued at $937,768.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James M. Taylor, Jr. acquired 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 13th. The stock was purchased at an average price of $15.55 per share, for a total transaction of $116,625.00. Following the acquisition, the chief executive officer now directly owns 216,884 shares in the company, valued at approximately $3,372,546.20. The disclosure for this purchase can be found here. Insiders acquired 12,750 shares of company stock worth $195,495 in the last 90 days. Company insiders own 0.27% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRX. PNC Financial Services Group Inc. grew its stake in Brixmor Property Group by 159.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 5,203 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Brixmor Property Group by 92.2% during the 2nd quarter. Janus Henderson Group PLC now owns 65,979 shares of the real estate investment trust’s stock worth $1,180,000 after acquiring an additional 31,658 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Brixmor Property Group during the 2nd quarter worth about $556,000. The Manufacturers Life Insurance Company boosted its position in shares of Brixmor Property Group by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,283 shares of the real estate investment trust’s stock worth $362,000 after acquiring an additional 712 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of Brixmor Property Group by 621.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,947 shares of the real estate investment trust’s stock worth $150,000 after acquiring an additional 6,845 shares in the last quarter. 99.72% of the stock is owned by hedge funds and other institutional investors.
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.
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