Makena Capital Management LLC Buys 131,584 Shares of Brixmor Property Group Inc. (NYSE:BRX)

Makena Capital Management LLC boosted its stake in shares of Brixmor Property Group Inc. (NYSE:BRX) by 42.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439,356 shares of the real estate investment trust’s stock after purchasing an additional 131,584 shares during the quarter. Brixmor Property Group comprises 2.4% of Makena Capital Management LLC’s holdings, making the stock its 16th largest holding. Makena Capital Management LLC’s holdings in Brixmor Property Group were worth $10,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Brixmor Property Group by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 45,662,863 shares of the real estate investment trust’s stock worth $1,070,794,000 after buying an additional 165,572 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Brixmor Property Group by 3.7% during the fourth quarter. Wellington Management Group LLP now owns 10,915,844 shares of the real estate investment trust’s stock worth $254,012,000 after purchasing an additional 394,158 shares in the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of 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 purchasing an additional 1,016,209 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Brixmor Property Group by 37.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 7,324,870 shares of the real estate investment trust’s stock worth $169,131,000 after purchasing an additional 1,995,299 shares in the last quarter. Finally, Millennium Management LLC grew its stake in Brixmor Property Group by 35.5% during the 2nd quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust’s stock worth $132,443,000 after buying an additional 1,501,282 shares during the last quarter. 98.43% of the stock is currently owned by institutional investors.

Brixmor Property Group Trading Down 1.6 %

Shares of NYSE:BRX opened at $27.37 on Friday. The company has a market capitalization of $8.25 billion, a PE ratio of 29.43, a PEG ratio of 4.56 and a beta of 1.57. Brixmor Property Group Inc. has a 12-month low of $19.46 and a 12-month high of $28.45. The business has a 50 day moving average of $26.43 and a two-hundred day moving average of $23.79. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.88.

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

Brixmor Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be issued a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Wednesday, October 2nd. Brixmor Property Group’s payout ratio is currently 117.20%.

Analysts Set New Price Targets

BRX has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on Brixmor Property Group from $24.00 to $25.50 and gave the company a “hold” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group lifted their target price on shares of Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company raised their price target on shares of Brixmor Property Group from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Piper Sandler reissued an “overweight” rating and issued a $33.00 target price (up from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Finally, Compass Point raised their target price on Brixmor Property Group from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Brixmor Property Group currently has a consensus rating of “Moderate Buy” and an average price target of $28.38.

Insider Transactions at Brixmor Property Group

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

About Brixmor Property Group

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.