UPDATE: Goldman Sachs Downgrades Brixmor Property (BRX) to Neutral

March 9, 2021 3:53 AM EST
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Price: $21.86 +1.58%

Rating Summary:
    5 Buy, 17 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 10 | New: 12
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(Updated - March 9, 2021 5:40 AM EST)

Goldman Sachs analyst Caitlin Burrows downgraded Brixmor Property (NYSE: BRX) from Buy to Neutral with a price target of $22.00 (from $20.00).

The analyst comments "We expect BRX’s earnings will continue to benefit from embedded lease mark to market and redevelopment opportunities; however, we are hesitant to assume BRX’s multiple exceeds pre-COVID levels in the near term, especially when considering that the 4Q19 multiple was a multi-year high. This view is driven by possible continued y/y occupancy shortfalls, somewhat slower leasing activity, and rent collections not quite at normal levels."

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 $20.78 yesterday.

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