KeyBanc Downgrades Brixmor Property (BRX) to Sector Weight

KeyBanc downgraded Brixmor Property (NYSE: BRX) from Overweight to Sector Weight.

Analyst Todd M. Thomas said, "We are downgrading BRX to SW from OW following the announcement this morning that the CEO, CFO, CAO and an additional accounting employee have resigned following an Audit Committee review that uncovered a "course of conduct" issue associated with BRX's financial reporting. The Company delayed its 4Q earnings release and appointed an interim CEO, but also voluntarily reported the matter to the SEC. Given the uncertainty surrounding these events, we are moving to the sidelines until the final determination on these matters is completed, alongside the 2015 audit and form 10K filing."

For an analyst ratings summary and ratings history on Brixmor Property click here. For more ratings news on Brixmor Property click here.

Shares of Brixmor Property closed at $26.42 yesterday.

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