A large block buy order of 1 million shares occurred in BRX stock at $14.80. This big block order comes a day after Yahoo republished this article from Benzinga. The big block order could have even been Goldman Sachs.
The main point is that Goldman Sachs likes Brixmor Property Group because of its ability to raise rental rates.
The company has had trouble growing revenue over the last few years.
I think a bet on this company is a bet that the U.S. economy is going to strengthen and thus commercial rental rates are going to rise. It’s an REIT so the growth would have to outpace Fed rate hikes and the flattening of the yield curve.
Brixmor Property Group
Large players volume has formed a massive positive divergence to price. There is also a Pocket Pivot (blue signal) today which is bullish. The Twiggs Money Flow looks like it’s going to take another run at going positive. There is as pretty tough resistance zone between $14.70 and $15.15. Right above this resistance zone may be a good entry point. There is a support zone below the current price at $14.69, a stop order could be placed below this zone.
I’m not going to give this stock a buy rating because I’m not willing to bet on a booming U.S. economy this late in the secular business cycle but that’s just my opinion and that could very well be wrong. Nevertheless, I wanted to make you aware of this hot looking stock.