UPDATE: Goldman Sachs Downgrades Brixmor Property (BRX) to Neutral
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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."
Shares of Brixmor Property closed at $20.78 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesGoldman Sachs, Earnings
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