Barclays analyst Ross L Smotrich maintained a Hold rating on Brixmor Property (BRX) yesterday and set a price target of $17. The company’s shares closed yesterday at $17.40.
L Smotrich said:
“We are updating our model for 4Q18 results. Brixmor reported 4Q18 FFO per share of $0.40 (-22.6% Y/Y), in-line with our estimate and $0.02 below consensus ($0.42), bringing Y/Y) driven by asset sales. Neither our estimate nor consensus included the $0.02 charge due to an SEC fine from the 2016 investigation of prior management. Therefore, on a like-for-like basis, 4Q18 FFO/ps was $0.02 ahead. Please see our 2/11/19 report, BRX – Initial View – Fourth Quarter . 2018 Earnings Stock Thoughts/Forward Outlook. BRX’s relative valuation appears inexpensive (P /CAD: 11.0x vs 18.1x sub-sector average) and the dividend is well-covered (CAD payout: 72% vs peers 82%). On the other hand, BRX has outperformed YTD (+17. 2% vs peers: +13.3%, RMZ: +12.0%), in line with other companies with portfolios concentrated in secondary markets.”
According to TipRanks.com, Smotrich is a 5-star analyst with an average return of 7.2% and a 67.3% success rate. Smotrich covers the Financial sector, focusing on stocks such as Essential Properties Realty Trust Inc, Pennsylvania Real Estate Investment, and Apartment Investment & Management.
Brixmor Property has an analyst consensus of Hold, with a price target consensus of $17.50, which is a 0.6% upside from current levels. In a report issued on March 4, Citigroup also maintained a Hold rating on the stock with a $17 price target.
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Brixmor Property’s market cap is currently $5.19B and has a P/E ratio of 14.43. The company has a Price to Book ratio of 1.83.
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Brixmor Property Group, Inc. operates as real estate investment trust. It owns and operates wholly owned portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.
