Intech Investment Management LLC Trims Position in Brixmor Property Group Inc. (NYSE:BRX)

Intech Investment Management LLC lessened its holdings in shares of Brixmor Property Group Inc. (NYSE:BRX) by 41.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,421 shares of the real estate investment trust’s stock after selling 34,971 shares during the quarter. Intech Investment Management LLC’s holdings in Brixmor Property Group were worth $1,377,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its holdings in Brixmor Property Group by 5.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 271,466 shares of the real estate investment trust’s stock valued at $6,366,000 after buying an additional 14,748 shares during the period. Caxton Associates LP purchased a new stake in Brixmor Property Group in the first quarter valued at approximately $322,000. Burney Co. increased its position in Brixmor Property Group by 8.0% during the first quarter. Burney Co. now owns 70,131 shares of the real estate investment trust’s stock worth $1,645,000 after purchasing an additional 5,222 shares during the last quarter. Boston Partners raised its stake 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 purchasing an additional 501,403 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Brixmor Property Group by 2.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 180,989 shares of the real estate investment trust’s stock valued at $4,145,000 after purchasing an additional 4,314 shares during the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Stock Performance

NYSE:BRX opened at $30.28 on Wednesday. The firm has a 50-day moving average of $28.05 and a two-hundred day moving average of $25.56. 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 stock has a market cap of $9.15 billion, a P/E ratio of 28.04, a PEG ratio of 4.07 and a beta of 1.57. Brixmor Property Group Inc. has a 1-year low of $20.80 and a 1-year high of $30.31.

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

Brixmor Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 3.79%. The ex-dividend date is Friday, January 3rd. Brixmor Property Group’s dividend payout ratio (DPR) is currently 106.48%.

Insider Transactions at Brixmor Property Group

In related news, insider Steven F. Siegel sold 25,000 shares of Brixmor Property Group stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $29.54, for a total value of $738,500.00. Following the completion of the transaction, the insider now directly owns 315,004 shares in the company, valued at approximately $9,305,218.16. This trade represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on BRX. Mizuho upped their price objective on Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. StockNews.com downgraded Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Stifel Nicolaus increased their target price on shares of Brixmor Property Group from $25.50 to $27.50 and gave the stock a “hold” rating in a research report on Tuesday, October 29th. Piper Sandler reaffirmed an “overweight” rating and set a $33.00 price target (up from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Finally, Evercore ISI increased 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 report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.38.

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.