Thrivent Financial for Lutherans Cuts Stake in Brixmor Property Group Inc. (NYSE:BRX)

Thrivent Financial for Lutherans reduced its position in Brixmor Property Group Inc. (NYSE:BRX) by 1.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 260,136 shares of the real estate investment trust’s stock after selling 3,610 shares during the period. Thrivent Financial for Lutherans’ holdings in Brixmor Property Group were worth $7,248,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. PGGM Investments lifted its position in shares of Brixmor Property Group by 167.2% in the 2nd quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock worth $86,847,000 after purchasing an additional 2,353,582 shares during the period. 1832 Asset Management L.P. purchased a new stake in Brixmor Property Group during the first quarter worth $16,964,000. Boston Partners lifted its holdings in Brixmor Property Group by 1,140.5% during the first quarter. Boston Partners now owns 545,367 shares of the real estate investment trust’s stock worth $12,774,000 after buying an additional 501,403 shares during the period. Wolverine Asset Management LLC bought a new stake in Brixmor Property Group during the 2nd quarter valued at $494,000. Finally, Envestnet Portfolio Solutions Inc. purchased a new position in shares of Brixmor Property Group in the 2nd quarter valued at $228,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $33.00 price objective (up previously from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Compass Point raised their price target on shares of Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Evercore ISI boosted their price objective on shares of Brixmor Property Group from $27.00 to $28.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. Scotiabank raised 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 note on Monday, August 26th. Finally, StockNews.com lowered shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $29.13.

Brixmor Property Group Price Performance

Shares of BRX opened at $29.83 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.38 and a quick ratio of 1.38. The company’s fifty day moving average price is $27.97 and its 200-day moving average price is $25.40. Brixmor Property Group Inc. has a 1-year low of $20.80 and a 1-year high of $29.99. The firm has a market capitalization of $9.01 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 4.05 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.21). Brixmor Property Group had a net margin of 25.81% and a return on equity of 11.48%. The firm had revenue of $320.68 million for the quarter, compared to analysts’ expectations of $320.22 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts predict that Brixmor Property Group Inc. will post 2.14 EPS for the current year.

Brixmor Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be given a dividend of $0.287 per share. The ex-dividend date of this dividend is Friday, January 3rd. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 dividend on an annualized basis and a yield of 3.85%. Brixmor Property Group’s dividend payout ratio (DPR) is currently 106.48%.

Insider Buying and Selling at Brixmor Property Group

In other news, insider Steven F. Siegel sold 25,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total value of $738,500.00. Following the sale, the insider now owns 315,004 shares in the company, valued at $9,305,218.16. This represents a 7.35 % decrease in their ownership of the stock. 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.

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.