Bank of America Lowers Brixmor Property Group (NYSE:BRX) to Neutral

Bank of America cut shares of Brixmor Property Group (NYSE:BRX) from a buy rating to a neutral rating in a research note released on Monday, Briefing.com Automated Import reports. They currently have $11.00 price target on the real estate investment trust’s stock, down from their previous price target of $19.00.

Several other equities research analysts have also recently weighed in on BRX. Jefferies Financial Group initiated coverage on shares of Brixmor Property Group in a research report on Wednesday, January 15th. They issued a hold rating and a $21.00 price target on the stock. Evercore ISI cut shares of Brixmor Property Group from an outperform rating to an in-line rating in a research report on Wednesday, November 27th. SunTrust Banks cut shares of Brixmor Property Group from a buy rating to a hold rating and cut their price objective for the company from $23.00 to $21.00 in a research report on Wednesday, January 15th. ValuEngine upgraded shares of Brixmor Property Group from a strong sell rating to a sell rating in a research report on Friday, March 13th. Finally, BMO Capital Markets cut shares of Brixmor Property Group from a market perform rating to an underperform rating and set a $19.00 price objective on the stock. in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $19.93.

BRX traded down $0.07 during trading hours on Monday, hitting $10.99. The company’s stock had a trading volume of 5,832,226 shares, compared to its average volume of 3,334,434. The business’s 50-day moving average price is $17.27 and its 200-day moving average price is $20.02. Brixmor Property Group has a 12 month low of $8.30 and a 12 month high of $22.74. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 11.95, a P/E/G ratio of 1.96 and a beta of 0.89. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.77.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.27). Brixmor Property Group had a return on equity of 9.94% and a net margin of 23.52%. The business had revenue of $293.10 million during the quarter, compared to the consensus estimate of $294.14 million. During the same quarter in the prior year, the firm posted $0.48 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts forecast that Brixmor Property Group will post 1.93 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, April 6th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 10.37%. The ex-dividend date is Friday, April 3rd. Brixmor Property Group’s dividend payout ratio (DPR) is 59.69%.

In other news, insider Steven F. Siegel sold 7,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $20.52, for a total transaction of $153,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sheryl Maxwell Crosland bought 2,500 shares of the stock in a transaction dated Monday, March 16th. The shares were bought at an average cost of $12.53 per share, with a total value of $31,325.00. Following the completion of the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $250,600. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 22,500 shares of company stock valued at $289,625 and have sold 16,868 shares valued at $347,571. 0.44% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of BRX. Evolution Wealth Advisors LLC purchased a new stake in shares of Brixmor Property Group during the fourth quarter valued at $35,000. CWM LLC purchased a new stake in Brixmor Property Group in the fourth quarter worth about $49,000. Institutional & Family Asset Management LLC purchased a new stake in Brixmor Property Group in the third quarter worth about $55,000. Advisory Services Network LLC lifted its stake in Brixmor Property Group by 619.0% in the fourth quarter. Advisory Services Network LLC now owns 4,889 shares of the real estate investment trust’s stock worth $106,000 after acquiring an additional 4,209 shares during the period. Finally, First Mercantile Trust Co. purchased a new stake in Brixmor Property Group in the fourth quarter worth about $137,000. 99.20% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Brixmor Property Group (NYSE:BRX)

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