Published On: Thu, Sep 8th, 2016

Brixmor Property Group Inc. (BRX) Research Coverage Started at Mitsubishi UFJ Financial Group

Research analysts at Mitsubishi UFJ Financial Group initiated coverage on shares of Brixmor Property Group Inc. (NYSE:BRX) in a report issued on Wednesday. The brokerage set an “outperform” rating and a $29.00 price target on the real estate investment trust’s stock. Mitsubishi UFJ Financial Group’s target price would suggest a potential upside of 0.35% from the company’s current price.
A number of large investors have made changes to their positions in BRX. Public Employees Retirement Association of Colorado increased its stake in shares of Brixmor Property Group by 10.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 6,140 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 586 shares in the last quarter. Breton Hill Capital Ltd. acquired a new stake in shares of Brixmor Property Group during the second quarter valued at about $206,000. Nisa Investment Advisors LLC increased its stake in shares of Brixmor Property Group by 164.8% in the second quarter. Nisa Investment Advisors LLC now owns 12,050 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 7,500 shares in the last quarter. DNB Asset Management AS increased its stake in shares of Brixmor Property Group by 15.9% in the second quarter. DNB Asset Management AS now owns 12,400 shares of the real estate investment trust’s stock valued at $328,000 after buying an additional 1,700 shares in the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Brixmor Property Group during the first quarter valued at about $361,000.
A number of other analysts have also recently issued reports on BRX. Barclays PLC increased their target price on Brixmor Property Group from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 19th. JPMorgan Chase & Co. raised Brixmor Property Group from an “underweight” rating to a “neutral” rating and set a $26.00 target price for the company in a research note on Friday, June 3rd. Deutsche Bank AG reissued a “hold” rating and set a $26.00 target price on shares of Brixmor Property Group in a research note on Sunday, May 22nd. Stifel Nicolaus raised Brixmor Property Group from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Monday, August 15th. They noted that the move was a valuation call. Finally, Citigroup raised Brixmor Property Group from a “neutral” rating to a “buy” rating and increased their target price for the stock from $28.00 to $31.00 in a research note on Friday, August 12th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Brixmor Property Group currently has an average rating of “Buy” and an average price target of $28.25.

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Shares of Brixmor Property Group (NYSE:BRX) traded up 0.42% during mid-day trading on Wednesday, hitting $28.90. 2,593,933 shares of the stock were exchanged. Brixmor Property Group has a 12-month low of $19.91 and a 12-month high of $28.97. The firm has a 50-day moving average price of $28.02 and a 200 day moving average price of $26.08. The company has a market capitalization of $8.70 billion and a PE ratio of 37.05.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. During the same period last year, the company earned $0.49 earnings per share. The company earned $295.43 million during the quarter, compared to the consensus estimate of $315.21 million. The business’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts expect that Brixmor Property Group will post $2.06 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Wednesday, October 5th will be issued a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Monday, October 3rd.
In other Brixmor Property Group news, EVP Steven F. Siegel sold 6,000 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $26.34, for a total transaction of $158,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Brx Holdco Llc sold 42,400,000 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $27.30, for a total value of $1,157,520,000.00. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.
Brixmor Property Group Inc and subsidiaries (collectively BPG) is an internally managed real estate investment trust (REIT). Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership) is the entity through which BPG conducts its operations and owns its assets. BPG owns 100% of the common stock of BPG Subsidiary Inc (BPG Sub), which is the sole member of Brixmor OP GP LLC (the General Partner), the sole general partner of the Operating Partnership.

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