Brixmor Property Group (NYSE:BRX) Shares Gap Up on Better-Than-Expected Earnings

Brixmor Property Group Inc. (NYSE:BRX) shares gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $26.18, but opened at $26.94. Brixmor Property Group shares last traded at $26.83, with a volume of 228,702 shares.

The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.31. Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%.

Wall Street Analyst Weigh In

BRX has been the topic of a number of research analyst reports. KeyCorp boosted their target price on Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Truist Financial raised their target price on shares of Brixmor Property Group from $28.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Wells Fargo & Company lowered their price target on shares of Brixmor Property Group from $29.00 to $27.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. BMO Capital Markets upgraded Brixmor Property Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $30.00 to $33.00 in a report on Friday, December 6th. Finally, Evercore ISI raised shares of Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 target price for the company in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brixmor Property Group has an average rating of “Moderate Buy” and a consensus target price of $30.38.

Insider Activity at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total transaction of $738,500.00. Following the completion of the sale, the insider now directly owns 315,004 shares of the company’s stock, valued at approximately $9,305,218.16. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRX. Magnetar Financial LLC purchased a new position in shares of Brixmor Property Group during the fourth quarter worth $317,000. Teacher Retirement System of Texas increased its position in shares of Brixmor Property Group by 41.6% in the fourth quarter. Teacher Retirement System of Texas now owns 192,985 shares of the real estate investment trust’s stock valued at $5,373,000 after buying an additional 56,729 shares in the last quarter. Harvest Fund Management Co. Ltd raised its position in Brixmor Property Group by 163.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 12,826 shares of the real estate investment trust’s stock worth $357,000 after acquiring an additional 7,950 shares during the period. Saiph Capital LLC acquired a new stake in Brixmor Property Group in the 4th quarter worth about $244,000. Finally, Xponance Inc. lifted its holdings in Brixmor Property Group by 6.7% in the 4th quarter. Xponance Inc. now owns 39,211 shares of the real estate investment trust’s stock valued at $1,092,000 after purchasing an additional 2,476 shares in the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Brixmor Property Group Stock Up 2.6 %

The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $8.11 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 2.54 and a beta of 1.58. The business has a 50-day moving average price of $27.28 and a 200-day moving average price of $27.42.

Brixmor Property Group Company Profile

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.