KeyBanc Reiterates Overweight Rating on Brixmor Property (BRX)

KeyBanc analyst Todd Thomas reiterated an Overweight rating and $34.00 price target on Brixmor Property (NYSE: BRX).

The analyst commented: "Slate Adds Scale & Other Benefits, Bolsters LT Growth; We came away from meetings with increased conviction in BRX's internal and external growth outlook. We view the Slate acquisition as an acceleration of BRX's existing strategy in that it provides immediate scale benefits, adds redevelopment inventory to the pipeline, and creates a potential future investment pipeline. Pricing appears adequate, with accretion in year 1 aided by the joint venture structure and preferred, with leverage increasing modestly. Combined with embedded NOI growth from its SNO pipeline, BRX remains well-positioned to generate above-average NOI/FFO growth in 2027."

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 $27.46 yesterday.

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