Brixmor Property Group Inc. (NYSE:BRX – Get Free Report) Director Michael B. Berman sold 10,475 shares of Brixmor Property Group stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total transaction of $239,039.50. Following the sale, the director now owns 40,556 shares in the company, valued at approximately $925,487.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Brixmor Property Group Trading Up 0.1 %
BRX stock opened at $22.75 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a fifty day moving average price of $22.71 and a 200 day moving average price of $22.01. The firm has a market cap of $6.85 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 2.74 and a beta of 1.53. Brixmor Property Group Inc. has a fifty-two week low of $19.40 and a fifty-two week high of $24.47.
Brixmor Property Group (NYSE:BRX – Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The real estate investment trust reported $0.24 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.27). The firm had revenue of $316.49 million for the quarter, compared to analysts’ expectations of $311.77 million. Brixmor Property Group had a return on equity of 10.63% and a net margin of 24.50%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 earnings per share. Sell-side analysts anticipate that Brixmor Property Group Inc. will post 2.08 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 Monday, April 15th. Shareholders of record on Tuesday, April 2nd will be paid a dividend of $0.273 per share. This represents a $1.09 annualized dividend and a yield of 4.80%. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, April 1st. Brixmor Property Group’s payout ratio is presently 107.92%.
Analysts Set New Price Targets
Several research firms have recently issued reports on BRX. Wells Fargo & Company reduced their price objective on shares of Brixmor Property Group from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Monday, November 13th. Mizuho reiterated a “neutral” rating and set a $24.00 price objective (up previously from $23.00) on shares of Brixmor Property Group in a research report on Friday, February 23rd. Deutsche Bank Aktiengesellschaft began coverage on shares of Brixmor Property Group in a research report on Tuesday, January 30th. They set a “buy” rating and a $27.00 price objective on the stock. Finally, Stifel Nicolaus raised their target price on shares of Brixmor Property Group from $22.75 to $24.00 and gave the company a “hold” rating in a report on Tuesday, February 13th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.38.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of BRX. Wellington Management Group LLP boosted its stake in Brixmor Property Group by 99.4% during the first quarter. Wellington Management Group LLP now owns 20,119,950 shares of the real estate investment trust’s stock worth $519,296,000 after buying an additional 10,028,534 shares during the period. Norges Bank purchased a new stake in shares of Brixmor Property Group during the fourth quarter valued at $73,143,000. Deutsche Bank AG boosted its stake in shares of Brixmor Property Group by 1,073.3% during the third quarter. Deutsche Bank AG now owns 3,019,909 shares of the real estate investment trust’s stock valued at $62,754,000 after purchasing an additional 2,762,529 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Brixmor Property Group by 16.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 14,985,745 shares of the real estate investment trust’s stock valued at $348,718,000 after purchasing an additional 2,067,135 shares during the period. Finally, State Street Corp boosted its stake in shares of Brixmor Property Group by 13.6% during the first quarter. State Street Corp now owns 16,686,118 shares of the real estate investment trust’s stock valued at $430,669,000 after purchasing an additional 2,001,159 shares during the period. 94.98% of the stock is owned by hedge funds and other institutional investors.
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.
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