First Manhattan Co. raised its holdings in Brixmor Property Group Inc (NYSE:BRX) by 17.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,866,270 shares of the real estate investment trust’s stock after acquiring an additional 279,000 shares during the period. First Manhattan Co. owned approximately 0.61% of Brixmor Property Group worth $34,824,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in BRX. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Brixmor Property Group during the 3rd quarter valued at about $100,000. Meeder Asset Management Inc. raised its holdings in shares of Brixmor Property Group by 621.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,947 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 6,845 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Brixmor Property Group by 159.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 5,203 shares in the last quarter. CIBC Asset Management Inc purchased a new position in shares of Brixmor Property Group during the 3rd quarter valued at about $191,000. Finally, IFM Investors Pty Ltd purchased a new position in shares of Brixmor Property Group during the 3rd quarter valued at about $197,000. 98.98% of the stock is currently owned by hedge funds and other institutional investors.
Brixmor Property Group Inc (NYSE BRX) traded up $0.16 during midday trading on Wednesday, hitting $15.01. The company had a trading volume of 7,536,463 shares, compared to its average volume of 4,391,118. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.96. Brixmor Property Group Inc has a one year low of $13.74 and a one year high of $23.85. The company has a market capitalization of $4,381.64, a price-to-earnings ratio of 15.32, a PEG ratio of 1.79 and a beta of 0.35.
Brixmor Property Group (NYSE:BRX) last released its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.27). Brixmor Property Group had a net margin of 23.40% and a return on equity of 10.29%. The firm had revenue of $320.06 million for the quarter, compared to the consensus estimate of $312.97 million. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. research analysts predict that Brixmor Property Group Inc will post 2 EPS for the current year.
Brixmor Property Group announced that its board has authorized a stock buyback plan on Tuesday, December 5th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, April 5th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, April 4th. This represents a $1.10 annualized dividend and a dividend yield of 7.33%. Brixmor Property Group’s dividend payout ratio is presently 112.24%.
BRX has been the topic of several recent research reports. Mizuho lowered Brixmor Property Group from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research report on Monday, December 11th. BMO Capital Markets set a $19.00 price target on Brixmor Property Group and gave the stock a “hold” rating in a research report on Tuesday, December 5th. ValuEngine lowered Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Citigroup upgraded Brixmor Property Group to an “overweight” rating and raised their price target for the stock from $19.00 to $21.00 in a research report on Wednesday, January 3rd. They noted that the move was a valuation call. Finally, Mitsubishi UFJ Financial Group upgraded Brixmor Property Group from a “neutral” rating to an “overweight” rating in a research report on Wednesday, January 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.38.
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Brixmor Property Group Company Profile
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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