Zacks Investment Research Lowers Brixmor Property Group Inc (BRX) to Sell

Zacks Investment Research downgraded shares of Brixmor Property Group Inc (NYSE:BRX) from a hold rating to a sell rating in a report issued on Tuesday.

According to Zacks, “Brixmor Property Group Inc. operates as a real estate investment trust. It owns and operates a portfolio of grocery-anchored community and neighborhood shopping centers primarily in the United States. Brixmor Property Group Inc. is based in United States. “

Several other research firms have also weighed in on BRX. Stifel Nicolaus cut their target price on Brixmor Property Group from $30.00 to $28.00 and set a buy rating on the stock in a report on Tuesday, February 14th. Boenning Scattergood lowered Brixmor Property Group from an outperform rating to a neutral rating in a report on Wednesday, March 22nd. Barclays PLC cut their target price on Brixmor Property Group from $28.00 to $24.00 and set an equal weight rating on the stock in a report on Monday, January 23rd. Finally, SunTrust Banks, Inc. upgraded Brixmor Property Group from a hold rating to a buy rating and set a $27.00 target price on the stock in a report on Thursday, January 19th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Brixmor Property Group currently has an average rating of Hold and an average price target of $28.17.

Shares of Brixmor Property Group (NYSE:BRX) opened at 21.86 on Tuesday. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 24.00 and a beta of 0.54. Brixmor Property Group has a 52 week low of $20.62 and a 52 week high of $29.14. The firm’s 50-day moving average price is $21.48 and its 200 day moving average price is $23.85.

Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, February 13th. The real estate investment trust reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by $0.20. Brixmor Property Group had a net margin of 21.60% and a return on equity of 9.51%. The company had revenue of $324 million for the quarter, compared to the consensus estimate of $322.05 million. During the same quarter last year, the business earned $0.51 earnings per share. Brixmor Property Group’s quarterly revenue was down .5% on a year-over-year basis. On average, analysts anticipate that Brixmor Property Group will post $0.86 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Monday, April 17th. Investors of record on Wednesday, April 5th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, April 3rd. This represents a $1.04 annualized dividend and a yield of 4.76%. Brixmor Property Group’s dividend payout ratio is 114.29%.

In related news, EVP Steven F. Siegel sold 6,000 shares of the business’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $24.22, for a total transaction of $145,320.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider James M. Taylor, Jr. purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, March 8th. The shares were purchased at an average price of $21.17 per share, for a total transaction of $105,850.00. Following the completion of the purchase, the insider now directly owns 189,893 shares of the company’s stock, valued at $4,020,034.81. The disclosure for this purchase can be found here. Insiders own 0.22% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its position in shares of Brixmor Property Group by 100.7% in the third quarter. Nisa Investment Advisors LLC now owns 24,185 shares of the real estate investment trust’s stock valued at $672,000 after buying an additional 12,135 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Brixmor Property Group during the third quarter valued at about $335,000. Nationwide Fund Advisors raised its position in shares of Brixmor Property Group by 10,346.2% in the third quarter. Nationwide Fund Advisors now owns 493,061 shares of the real estate investment trust’s stock valued at $13,702,000 after buying an additional 488,341 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Brixmor Property Group by 7.7% in the third quarter. California Public Employees Retirement System now owns 414,000 shares of the real estate investment trust’s stock valued at $11,505,000 after buying an additional 29,700 shares in the last quarter. Finally, Henderson Group PLC raised its position in shares of Brixmor Property Group by 103.2% in the third quarter. Henderson Group PLC now owns 30,121 shares of the real estate investment trust’s stock valued at $837,000 after buying an additional 15,300 shares in the last quarter.

About Brixmor Property Group

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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