Morgan Stanley increased its position in Brixmor Property Group Inc (NYSE:BRX) by 3.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,642,299 shares of the real estate investment trust’s stock after acquiring an additional 360,074 shares during the quarter. Morgan Stanley owned about 3.19% of Brixmor Property Group worth $168,065,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in BRX. Raymond James & Associates purchased a new stake in Brixmor Property Group in the second quarter valued at approximately $1,210,000. Flinton Capital Management LLC raised its stake in Brixmor Property Group by 86.5% in the second quarter. Flinton Capital Management LLC now owns 341,572 shares of the real estate investment trust’s stock valued at $5,954,000 after purchasing an additional 158,424 shares in the last quarter. Twin Capital Management Inc. purchased a new stake in Brixmor Property Group in the second quarter valued at approximately $446,000. Glen Harbor Capital Management LLC raised its stake in Brixmor Property Group by 86.5% in the second quarter. Glen Harbor Capital Management LLC now owns 195,184 shares of the real estate investment trust’s stock valued at $3,402,000 after purchasing an additional 90,528 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new stake in Brixmor Property Group in the second quarter valued at approximately $1,062,000.
A number of equities research analysts recently weighed in on the stock. ValuEngine raised shares of Brixmor Property Group from a “strong sell” rating to a “sell” rating in a research note on Monday, June 18th. SunTrust Banks reaffirmed a “buy” rating and issued a $20.00 target price on shares of Brixmor Property Group in a research note on Wednesday, August 8th. Citigroup raised their target price on shares of Brixmor Property Group from $16.50 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 16th. Stifel Nicolaus raised their target price on shares of Brixmor Property Group from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Tuesday, July 31st. Finally, Sandler O’Neill downgraded shares of Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.64.
BRX stock opened at $17.68 on Monday. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 8.46, a price-to-earnings-growth ratio of 1.50 and a beta of 0.42. Brixmor Property Group Inc has a one year low of $13.74 and a one year high of $19.81. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 1.92.
Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.26 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.24). The business had revenue of $313.03 million for the quarter, compared to analysts’ expectations of $307.73 million. Brixmor Property Group had a return on equity of 10.21% and a net margin of 23.30%. The company’s revenue was down 3.0% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. analysts anticipate that Brixmor Property Group Inc will post 2 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, October 5th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 6.22%. The ex-dividend date is Thursday, October 4th. Brixmor Property Group’s dividend payout ratio (DPR) is presently 52.63%.
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 471 retail centers comprise approximately 80 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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