JPMorgan Chase & Co. Cuts Stock Holdings in Brixmor Property Group Inc. (NYSE:BRX)

JPMorgan Chase & Co. cut its stake in shares of Brixmor Property Group Inc. (NYSE:BRX) by 50.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,764,686 shares of the real estate investment trust’s stock after selling 3,908,824 shares during the period. JPMorgan Chase & Co.’s holdings in Brixmor Property Group were worth $104,884,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wolverine Asset Management LLC acquired a new position in Brixmor Property Group in the second quarter valued at $494,000. Victory Capital Management Inc. grew its holdings in shares of Brixmor Property Group by 57.6% during the 2nd quarter. Victory Capital Management Inc. now owns 298,704 shares of the real estate investment trust’s stock worth $6,897,000 after purchasing an additional 109,149 shares during the period. Arizona State Retirement System increased its position in Brixmor Property Group by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 84,348 shares of the real estate investment trust’s stock worth $1,948,000 after purchasing an additional 1,737 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Brixmor Property Group in the second quarter valued at approximately $1,093,000. Finally, tru Independence LLC lifted its position in Brixmor Property Group by 4.8% during the second quarter. tru Independence LLC now owns 130,720 shares of the real estate investment trust’s stock valued at $3,018,000 after buying an additional 5,960 shares in the last quarter. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Brixmor Property Group Trading Up 1.4 %

NYSE BRX opened at $27.84 on Thursday. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 3.96 and a beta of 1.58. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.38 and a quick ratio of 1.38. Brixmor Property Group Inc. has a 12 month low of $20.80 and a 12 month high of $30.67. The company’s fifty day moving average price is $28.65 and its two-hundred day moving average price is $26.77.

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

Brixmor Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be paid a dividend of $0.287 per share. The ex-dividend date is Friday, January 3rd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 annualized dividend and a yield of 4.12%. Brixmor Property Group’s dividend payout ratio (DPR) is 106.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BRX. Stifel Nicolaus raised their target price on shares of Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a research note on Tuesday, October 29th. BMO Capital Markets upgraded Brixmor Property Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $30.00 to $33.00 in a research note on Friday, December 6th. Evercore ISI lowered their target price on Brixmor Property Group from $32.00 to $31.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. KeyCorp raised their target price on Brixmor Property Group from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Finally, Scotiabank upped their price target on Brixmor Property Group from $29.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Monday, November 25th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.19.

Insiders Place Their Bets

In related news, insider Steven F. Siegel sold 25,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total transaction 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 this hyperlink. 0.76% of the stock is currently owned by corporate insiders.

Brixmor Property Group 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.