Wolverine Asset Management LLC trimmed its stake in Brixmor Property Group Inc. (NYSE:BRX – Free Report) by 17.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,738 shares of the real estate investment trust’s stock after selling 3,674 shares during the quarter. Wolverine Asset Management LLC’s holdings in Brixmor Property Group were worth $494,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in BRX. PGGM Investments increased its holdings 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 buying an additional 2,353,582 shares during the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Brixmor Property Group during the 1st quarter worth about $16,964,000. Canada Pension Plan Investment Board acquired a new position in shares of Brixmor Property Group during the 1st quarter worth about $124,978,000. Boston Partners raised its holdings in shares of Brixmor Property Group by 1,140.5% in the 1st quarter. Boston Partners now owns 545,367 shares of the real estate investment trust’s stock valued at $12,774,000 after purchasing an additional 501,403 shares during the period. Finally, Sei Investments Co. lifted its stake in Brixmor Property Group by 12.6% in the 1st quarter. Sei Investments Co. now owns 822,174 shares of the real estate investment trust’s stock valued at $19,280,000 after purchasing an additional 92,073 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Truist Financial upped their price objective on Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Mizuho increased their price target on Brixmor Property Group from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Wells Fargo & Company lifted their price objective on shares of Brixmor Property Group from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Compass Point increased their price objective on shares of Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Finally, KeyCorp raised their target price on shares of Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Brixmor Property Group has an average rating of “Moderate Buy” and an average price target of $28.88.
Brixmor Property Group Price Performance
Shares of Brixmor Property Group stock opened at $28.83 on Thursday. The company has a 50-day simple moving average of $27.73 and a two-hundred day simple moving average of $25.13. Brixmor Property Group Inc. has a twelve month low of $20.80 and a twelve month high of $29.19. The stock has a market capitalization of $8.71 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 3.92 and a beta of 1.57. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.85.
Brixmor Property Group (NYSE:BRX – Get Free Report) last released its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). The business had revenue of $320.68 million during the quarter, compared to analyst estimates of $320.22 million. Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Analysts forecast that Brixmor Property Group Inc. will post 2.14 EPS for the current year.
Brixmor Property Group Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.287 per share. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 annualized dividend and a dividend yield of 3.98%. The ex-dividend date of this dividend is Friday, January 3rd. Brixmor Property Group’s dividend payout ratio is 106.48%.
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.
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