Brixmor Property Group (NYSE:BRX) Cut to “Sector Perform” at Scotiabank

Scotiabank lowered 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, The Fly reports. Scotiabank currently has $19.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $20.00.

A number of other research firms have also weighed in on BRX. BMO Capital Markets reiterated a hold rating and issued a $17.00 price objective on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Zacks Investment Research upgraded shares of Brixmor Property Group from a hold rating to a buy rating and set a $21.00 price objective on the stock in a research report on Wednesday. ValuEngine lowered shares of Brixmor Property Group from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Stifel Nicolaus lifted their price objective on shares of Brixmor Property Group from $17.50 to $18.00 and gave the company a hold rating in a research report on Tuesday, April 30th. Finally, KeyCorp set a $20.00 price objective on shares of Brixmor Property Group and gave the company a buy rating in a research report on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $19.00.

Shares of BRX traded up $0.11 during mid-day trading on Friday, reaching $18.51. 6,802,500 shares of the company’s stock were exchanged, compared to its average volume of 2,820,508. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.47 and a quick ratio of 0.47. The stock has a market capitalization of $5.51 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 2.15 and a beta of 0.74. The business’s fifty day simple moving average is $18.37 and its 200-day simple moving average is $17.99. Brixmor Property Group has a 52-week low of $14.11 and a 52-week high of $19.20.

Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $291.00 million for the quarter, compared to analysts’ expectations of $286.99 million. During the same quarter last year, the business posted $0.51 earnings per share. The business’s revenue was down 7.0% on a year-over-year basis. Equities research analysts predict that Brixmor Property Group will post 1.9 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, October 4th will be given a $0.28 dividend. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 6.05%. Brixmor Property Group’s dividend payout ratio (DPR) is 60.54%.

Large investors have recently bought and sold shares of the stock. NumerixS Investment Technologies Inc purchased a new stake in shares of Brixmor Property Group during the 2nd quarter worth $82,000. Machina Capital S.A.S. purchased a new stake in shares of Brixmor Property Group during the 2nd quarter worth $111,000. MAI Capital Management purchased a new stake in shares of Brixmor Property Group during the 2nd quarter worth $180,000. LS Investment Advisors LLC purchased a new stake in shares of Brixmor Property Group during the 1st quarter worth $289,000. Finally, Oakbrook Investments LLC purchased a new stake in shares of Brixmor Property Group during the 1st quarter worth $300,000. Hedge funds and other institutional investors own 98.23% of the company’s stock.

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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