Van ECK Associates Corp Sells 4,070 Shares of Brixmor Property Group Inc. (NYSE:BRX)

Van ECK Associates Corp trimmed its position in Brixmor Property Group Inc. (NYSE:BRX) by 3.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 120,764 shares of the real estate investment trust’s stock after selling 4,070 shares during the quarter. Van ECK Associates Corp’s holdings in Brixmor Property Group were worth $2,788,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in Brixmor Property Group during the 1st quarter worth about $124,978,000. Norges Bank bought a new position in shares of Brixmor Property Group during the fourth quarter valued at approximately $73,143,000. PGGM Investments raised its stake in Brixmor Property Group by 167.2% in the second quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock worth $86,847,000 after buying an additional 2,353,582 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Brixmor Property Group by 16.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 14,985,745 shares of the real estate investment trust’s stock worth $348,718,000 after buying an additional 2,067,135 shares during the period. Finally, Centersquare Investment Management LLC boosted its position in Brixmor Property Group by 13.6% during the 4th quarter. Centersquare Investment Management LLC now owns 8,467,936 shares of the real estate investment trust’s stock valued at $197,049,000 after acquiring an additional 1,016,209 shares in the last quarter. Institutional investors own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BRX shares. Compass Point boosted their price target on Brixmor Property Group from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price target on shares of Brixmor Property Group from $24.00 to $28.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 28th. Stifel Nicolaus lifted their price objective on shares of Brixmor Property Group from $24.00 to $25.50 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. Scotiabank increased their target price on shares of Brixmor Property Group from $25.00 to $29.00 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Finally, The Goldman Sachs Group lifted their price target on shares of Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.13.

Brixmor Property Group Stock Performance

Shares of BRX stock opened at $27.29 on Friday. The business has a fifty day moving average of $25.10 and a 200 day moving average of $23.27. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.50 and a quick ratio of 1.50. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 29.34, a price-to-earnings-growth ratio of 4.79 and a beta of 1.57. Brixmor Property Group Inc. has a 1 year low of $19.46 and a 1 year high of $27.70.

Brixmor Property Group (NYSE:BRX) last released its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.29). Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The firm had revenue of $315.69 million for the quarter, compared to analyst estimates of $317.75 million. During the same period last year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, research analysts expect that Brixmor Property Group Inc. will post 2.13 earnings per share for the current year.

Brixmor Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd will be paid a $0.2725 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.99%. Brixmor Property Group’s payout ratio is currently 117.20%.

Insider Transactions at Brixmor Property Group

In other Brixmor Property Group news, insider Steven F. Siegel sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the sale, the insider now directly owns 360,004 shares of the company’s stock, valued at $8,640,096. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Sheryl Maxwell Crosland sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total transaction of $127,250.00. Following the sale, the director now owns 46,291 shares of the company’s stock, valued at approximately $1,178,105.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven F. Siegel sold 10,000 shares of Brixmor Property Group stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the transaction, the insider now directly owns 360,004 shares of the company’s stock, valued at $8,640,096. The disclosure for this sale can be found here. Company insiders own 0.76% of the company’s stock.

Brixmor Property Group Company Profile

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 362 retail centers comprise approximately 64 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision to be the center of the communities we serve and are home to a diverse mix of thriving national, regional and local retailers.