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

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Scotiabank downgraded shares of Brixmor Property Group (NYSE:BRX) from an outperform rating to a sector perform rating in a research report report published on Friday morning, BenzingaRatingsTable reports. The brokerage currently has $19.00 price target on the real estate investment trust’s stock, down from their prior price target of $20.00.

Several other research analysts have also weighed in on BRX. ValuEngine lowered Brixmor Property Group from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Compass Point started coverage on Brixmor Property Group in a research report on Thursday, August 15th. They issued a neutral rating and a $19.00 target price on the stock. KeyCorp set a $20.00 target price on Brixmor Property Group and gave the stock a buy rating in a research report on Wednesday, June 19th. Stifel Nicolaus upped their target price on Brixmor Property Group from $17.50 to $18.00 and gave the stock a hold rating in a research report on Tuesday, April 30th. Finally, BMO Capital Markets reaffirmed a hold rating and issued a $17.00 target price on shares of Brixmor Property Group in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $19.00.

Shares of BRX stock opened at $18.68 on Friday. 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 has a fifty-two week low of $14.11 and a fifty-two week high of $19.20. The stock’s 50-day moving average is $18.41 and its two-hundred day moving average is $18.00. The firm has a market cap of $5.48 billion, a P/E ratio of 10.10, a PEG ratio of 2.15 and a beta of 0.74.

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

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 dividend yield of 6.00%. The ex-dividend date is Thursday, October 3rd. Brixmor Property Group’s dividend payout ratio is 60.54%.

In related news, Director James M. Taylor, Jr. acquired 7,500 shares of the stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $18.50 per share, with a total value of $138,750.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Brixmor Property Group by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 4,744,481 shares of the real estate investment trust’s stock worth $69,696,000 after buying an additional 248,302 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Brixmor Property Group during the first quarter worth $419,000. Retirement Systems of Alabama purchased a new stake in shares of Brixmor Property Group during the first quarter worth $7,141,000. New Mexico Educational Retirement Board purchased a new stake in shares of Brixmor Property Group during the first quarter worth $1,047,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Brixmor Property Group by 79.5% during the first quarter. Nisa Investment Advisors LLC now owns 91,905 shares of the real estate investment trust’s stock worth $1,688,000 after buying an additional 40,705 shares in the last quarter. 99.61% of the stock is currently 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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Analyst Recommendations for Brixmor Property Group (NYSE:BRX)

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