Mon, Aug. 22, 2:44 PM
- Evercore ISI upgrades Brixmor Property Group (BRX +1.7%) to Buy with PT of $33.00.
- Deutsche Bank upgrades Bancolombia SA (CIB -0.9%) to Buy.
- Citigroup upgrades Grupo Financiero Galicia SA (NASDAQ:GGAL) to Neutral.
- JMP Securities upgrades Select Income REIT (SIR +1.7%) to Outperform.
- Boston Properties (NYSE:BXP) downgraded to hold and set PT of $147.00 - $149.00.
- JMP Securities downgrades Four Corners Property Trust (FCPT -1.3%) to Market Perform.
- Credit Suisse Group AG downgrades LPL Financial Holdings (NASDAQ:LPLA) to Neutral and set PT of $28.00
- JMP Securities downgrades Wheeler Real Estate Investment Trust (WHLR +1.8%) to Market Perform.
Wed, Aug. 17, 9:41 AM
Thu, Aug. 11, 9:45 AM
- Macy's is higher by 16% after reporting its Q2 and announcing the closing of 100 full-line stores (out of 675 total).
- The news is sending a shudder through the owners of malls: Simon Property (SPG -1.6%), General Growth (GGP -2.1%), Brixmor (BRX -2.1%), Weingarten Realty (WRI -0.8%), Macerich (MAC -0.7%), Taubman Centers (TCO -0.8%), PREIT (PEI -1.3%).
Wed, Aug. 10, 4:44 PM
- Blackstone is offering 42.4M shares of Brixmor Property Group (NYSE:BRX) in a secondary offering. Upon the sale and the related distribution of another 456K shares to its partners, Blackstone will no longer own a stake in Brixmor.
- BRX is lower by 0.75% after hours.
Tue, Aug. 2, 12:49 PM
- July monthly performance was: +3.61%
- 52-week performance vs. the S&P 500 is: +4%
- No dividends were paid in July
- Top 10 Holdings as of 3/31/2016: Land Securities Group PLC (OTCQX:LSGOF): 2.41993%, Unibail-Rodamco SE (OTC:UNBLF): 2.23803%, Ventas Inc (VTR): 1.85645%, Stockland Corp Ltd (OTCPK:STKAF): 1.85393%, Essex Ppty Tr Pfd (ESS/PH): 1.80947%, Brixmor Property Group Inc (BRX): 1.75124%, Westfield Corp (OTCPK:WEFIF): 1.68697%, Simon Property Group Inc (SPG): 1.66805%, Vicinity Centres (VCX): 1.66357%, Retail Opportunity Investments Corp (ROIC): 1.61943%
Tue, Aug. 2, 8:38 AM
- With the stock more than fully recovered from its February accounting-related tumble, Blackstone sells another 30M shares of Brixmor (NYSE:BRX) in a secondary offering. This brings Blackstone's stake in the company down to 14%.
- The offering resulted in gross proceeds of $828M, suggesting a price of $27.60 each. Shares -2.3% premarket to $27.62.
- Alongside, Blackstone gives up one of its board seats, leaving Jonathan Gray as its remaining representative on the now-nine member Brixmor board.
Mon, Jul. 25, 4:13 PM
Sun, Jul. 24, 5:35 PM
Thu, Jun. 9, 11:52 AM
- The team hosted meetings with 29 companies over two days across six subsectors. Some highlights:
- Lodging: Business travel remains soft and most are operating defensively by grouping up and reducing leverage. NYC is flooded with hotels available for sale which should pressure pricing.
- Apartments: The slowdown in NoCal is concentrated in Soma and San Jose, but expected to be temporary. The NYC slowdown is expected to endure through 2017. Merchant builders in Houston with deliveries in 2017 are in trouble - an opportunity for Camden Property Trust (NYSE:CPT) to pick up assets on the cheap.
- Malls: Concerns over department stores are overblown. Simon Property (NYSE:SPG) expects spreads to top mid-teens in the next five years. Omni-channel retail strategy is growing increasingly important as the WSJ reports 80% of online sales touch brick and mortar in some way.
- CS's Ian Weissman is ranked #1,134 out of #3,990 analysts on TipRanks.com.
- Tickers of interest: HPT, SHO, LHO, PEB, CHSP, INN, RLJ, EQR, AVB, ESS, PPS, UDR, AIV, GGP, BRX, KIM, WRI, MAC
Fri, Jun. 3, 3:22 PM
- "Audited financials have been filed with no restatements, the open CEO and CFO roles have been filled with industry veterans, and the company has successfully demonstrated that Brixmor (BRX +1.2%) stock and bonds could be sold into the market," says analyst Michael Mueller, upgrading to Neutral from Underweight.
- New CEO James Taylor will be at the NAREIT conference next week, and Mueller expects his message to be that the company is well-positioned to move forward.
- The accounting issues came to light in early February, knocking the stock from nearly $27 all the way to about $20. It's since recovered to $25.92 currently.
Wed, Apr. 27, 10:58 AM
Tue, Apr. 26, 4:22 PM
Mon, Apr. 25, 5:35 PM
- AAPL, AFL, AIZ, AKAM, ARAY, ARI, ASH, AXS, BEAT, BLDP, BRX, BWLD, BXMT, BXP, BYD, CHRW, CINF, CLMS, CMG, COF, CREE, CRUS, CUDA, CVA, EBAY, EEFT, EQR, EW, EXAC, FE, FOE, FSP, FTI, FTNT, HAWK, HIW, HLS, HUBG, IRBT, ISIL, JBSS, JBT, KLAC, MKTO, MRCY, MTSI, MWA, NANO, NCR, NUVA, O, PEI, PNRA, PSA, PSB, RHI, RMD, RNR, SKT, SLCA, T, TEX, TMK, TSS, TWTR, TX, ULTI, VNTV, WNC, WRB, X, ZIXI
Mon, Apr. 25, 9:44 AM
- Being mulled by owners of shopping centers/malls this morning is new research from Green Street Advisors suggesting department stores need to close about 800 locations, or 20% of all anchor space in U.S. malls.
- Sears alone would need to close 43% of its stores to get inflation adjusted sales per square foot back to 2006 levels. Of course, retailers like Sears, Macy's, and J.C. Penney have already closed hundreds of spots over the past few years.
- The Green Street study says sales per square foot of $165 last year were down 24% from 2006, while physical footprints are off just 7%.
- Department stores may not agree. J.C. Penney CFO has said that when the company closes a store - particularly in a small market - dot.com business also goes down.
- Watching with interest: RPAI, IRC, KIM, FRT, DDR, EQY, CBL, SPG, GGP, BRX, WRI, PEI
Thu, Apr. 14, 12:26 PM
- "Quality trumps value," says analyst Haendel St. Juste initiating coverage on ten retail REITs. Mall REITs are already up 5% YTD, and shopping centers up 7%. St. Juste and team think there's another 10% upside.
- Four of the ten names are Buy-rated: American Assets Trust (AAT -0.2%), General Growth Properties (GGP -0.2%), Simon Property Group (SPG -0.1%), and Taubman Centers (TCO +0.2%).
- Neutral rated: Brixmor (BRX -0.1%), CBL & Associates (CBL -0.9%), DDR (DDR +0.4%), Federal Realty (FRT -0.3%), Kimco (KIM -0.5%), and Macerich (MAC -0.4%).
- St. Juste: "Our stock picks have a pronounced bias toward higher productivity platforms, a somewhat consensus view, but an appropriate one given the current environment and prevailing valuations."
- Now read: Red Flags For Sears Pensioners (April 14)
Tue, Apr. 12, 8:56 AM| Tue, Apr. 12, 8:56 AM
Brixmor Property Group, Inc. owns and operates wholly owned portfolio of grocery anchored community and neighborhood shopping centers in the United States. The company was founded on May 27, 2011 and is headquartered in New York, NY.
Industry: REIT - Retail
Country: United States