4 Reasons Goldman Sachs Is Bullish On Brixmor Property
Shopping center REIT Brixmor Property Group Inc (NYSE: BRX), which owns open-air properties, has earned bullish review from Goldman Sachs despite shares underperforming year-to-date. Analyst Caitlin Burrows initiated coverage of Brixmor Property with a Buy rating and a 12-month price target of $17.50. The company's leading spreads have increased from 12.6 percent to 12.9 percent, while the spreads for Goldman's retail REIT coverage have decelerated by an average of 490 basis points year-over-year, Burrows noted. Given that the company's adjusted funds from operations payout ratio is below some peers and the retail average, and in line with the REIT sector average, the analyst said its dividend is well covered.