Bartlett & CO. Wealth Management LLC Reduces Position in Brixmor Property Group Inc. (NYSE:BRX)

Bartlett & CO. Wealth Management LLC trimmed its stake in Brixmor Property Group Inc. (NYSE:BRX) by 16.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,000 shares of the real estate investment trust’s stock after selling 5,980 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Brixmor Property Group were worth $836,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in 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 valued at $1,070,794,000 after purchasing an additional 165,572 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Brixmor Property Group by 37.4% during the second 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 buying an additional 1,995,299 shares in the last quarter. Millennium Management LLC raised its position in shares of Brixmor Property Group by 35.5% in the second quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust’s stock valued at $132,443,000 after buying an additional 1,501,282 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Brixmor Property Group by 9.0% during the second quarter. Dimensional Fund Advisors LP now owns 4,804,746 shares of the real estate investment trust’s stock valued at $110,940,000 after buying an additional 396,242 shares during the period. Finally, PGGM Investments boosted its position in Brixmor Property Group by 167.2% during the second quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock worth $86,847,000 after acquiring an additional 2,353,582 shares during the last quarter. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Brixmor Property Group Trading Up 1.9 %

Shares of BRX stock opened at $28.35 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 1.88. Brixmor Property Group Inc. has a fifty-two week low of $19.55 and a fifty-two week high of $28.45. The firm’s 50 day moving average price is $27.23 and its two-hundred day moving average price is $24.35. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 4.43 and a beta of 1.57.

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

Brixmor Property Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Wednesday, October 2nd were paid a $0.2725 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.84%. Brixmor Property Group’s dividend payout ratio (DPR) is currently 117.20%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on BRX shares. Scotiabank increased their price target on Brixmor Property Group from $25.00 to $29.00 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Piper Sandler reissued an “overweight” rating and issued a $33.00 price target (up from $30.00) on shares of Brixmor Property Group in a research note on Wednesday, July 31st. StockNews.com downgraded shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group boosted their target price on shares of Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Five research 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 has an average rating of “Moderate Buy” and a consensus price target of $28.38.

Insider Activity at Brixmor Property Group

In other Brixmor Property Group news, Director Sheryl Maxwell Crosland sold 5,000 shares of the company’s 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 transaction, the director now owns 46,291 shares in the company, valued at $1,178,105.95. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.