Mizuho Securities analyst Haendel St. Juste has reiterated their neutral stance on BRX stock, giving a Hold rating on February 11.
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Haendel St. Juste’s rating is based on several factors influencing Brixmor Property’s current market position and future prospects. The company has shown strong leasing activity, which has led to an increase in its signed but not yet occupied (SNO) pipeline and supports its forecasted growth for fiscal year 2025. However, Brixmor’s exposure to tenants with financial instability, such as Party City, Joann’s, and Big Lots, presents a risk that tempers potential optimism about its growth trajectory.
Brixmor’s financial performance has been steady, with its FY25 earnings guidance aligning with market expectations. Although there has been a slight underperformance in the fourth quarter of 2024, the company’s guidance suggests continued growth supported by cost savings in general and administrative expenses. Nonetheless, the elevated risk from at-risk tenants when compared to its peers justifies a Hold rating, as these factors balance out the potential upsides from strong leasing demand.
In another report released on February 11, Stifel Nicolaus also maintained a Hold rating on the stock with a $31.25 price target.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BRX in relation to earlier this year.