Brixmor Property Group Inc. (NYSE:BRX) Stock Position Lowered by abrdn plc

abrdn plc lowered its position in shares of Brixmor Property Group Inc. (NYSE:BRX) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 812,737 shares of the real estate investment trust’s stock after selling 34,477 shares during the quarter. abrdn plc owned 0.27% of Brixmor Property Group worth $18,912,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Brixmor Property Group by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 45,760,884 shares of the real estate investment trust’s stock valued at $950,911,000 after purchasing an additional 440,566 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Brixmor Property Group by 9.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 12,918,610 shares of the real estate investment trust’s stock worth $268,449,000 after buying an additional 1,130,130 shares in the last quarter. Wellington Management Group LLP grew its position in Brixmor Property Group by 9.7% in the third quarter. Wellington Management Group LLP now owns 10,521,686 shares of the real estate investment trust’s stock worth $218,641,000 after buying an additional 929,966 shares during the last quarter. Invesco Ltd. lifted its position in shares of Brixmor Property Group by 22.8% during the 3rd quarter. Invesco Ltd. now owns 6,929,942 shares of the real estate investment trust’s stock valued at $144,004,000 after acquiring an additional 1,288,656 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Brixmor Property Group by 6.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,589,952 shares of the real estate investment trust’s stock worth $95,379,000 after acquiring an additional 289,063 shares in the last quarter. 98.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Brixmor Property Group

In other news, Director Michael B. Berman sold 10,475 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total value of $239,039.50. Following the sale, the director now owns 40,556 shares in the company, valued at $925,487.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Brixmor Property Group news, Director Michael B. Berman sold 10,475 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total value of $239,039.50. Following the completion of the sale, the director now directly owns 40,556 shares of the company’s stock, valued at approximately $925,487.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian T. Finnegan sold 7,500 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.00, for a total transaction of $172,500.00. Following the completion of the sale, the insider now owns 225,051 shares in the company, valued at $5,176,173. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on BRX. Stifel Nicolaus upped their target price on Brixmor Property Group from $22.75 to $24.00 and gave the company a “hold” rating in a report on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft started coverage on shares of Brixmor Property Group in a research report on Tuesday, January 30th. They issued a “buy” rating and a $27.00 price target for the company. Mizuho reissued a “neutral” rating and set a $24.00 target price (up from $23.00) on shares of Brixmor Property Group in a research note on Friday, February 23rd. The Goldman Sachs Group decreased their target price on Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, March 27th. Finally, Truist Financial restated a “buy” rating and set a $25.00 price target on shares of Brixmor Property Group in a report on Monday, March 25th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.38.

Brixmor Property Group Price Performance

Shares of Brixmor Property Group stock opened at $21.76 on Thursday. Brixmor Property Group Inc. has a 1-year low of $19.40 and a 1-year high of $24.47. The firm has a fifty day simple moving average of $22.43 and a 200-day simple moving average of $22.17. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.62 and a beta of 1.53.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings results on Tuesday, February 13th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.27). The firm had revenue of $316.49 million for the quarter, compared to the consensus estimate of $311.77 million. Brixmor Property Group had a net margin of 24.50% and a return on equity of 10.63%. The firm’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $0.49 earnings per share. On average, sell-side analysts expect that Brixmor Property Group Inc. will post 2.08 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Tuesday, April 2nd were given a $0.273 dividend. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.09 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend was Monday, April 1st. Brixmor Property Group’s payout ratio is currently 107.92%.

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.