Investors Buy Brixmor Property Group Inc. (BRX) on Weakness
Traders purchased shares of Brixmor Property Group Inc. (NYSE:BRX) on weakness during trading hours on Tuesday. $16.18 million flowed into the stock on the tick-up and $4.83 million flowed out of the stock on the tick-down, for a money net flow of $11.35 million into the stock. Of all stocks tracked, Brixmor Property Group had the 26th highest net in-flow for the day. Brixmor Property Group traded down ($0.34) for the day and closed at $26.98
Several analysts recently issued reports on BRX shares. Credit Suisse Group AG started coverage on Brixmor Property Group in a research note on Wednesday, March 16th. They issued a “neutral” rating and a $27.00 target price on the stock. JPMorgan Chase & Co. raised Brixmor Property Group from an “underweight” rating to a “neutral” rating and set a $26.00 target price on the stock in a research note on Friday, June 3rd. Deutsche Bank AG reissued a “hold” rating and issued a $26.00 target price on shares of Brixmor Property Group in a research note on Sunday, May 22nd. Finally, Mizuho started coverage on Brixmor Property Group in a research note on Wednesday, April 13th. They issued a “neutral” rating and a $23.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $26.78.
The company has a market cap of $8.07 billion and a PE ratio of 36.21. The company has a 50 day moving average price of $26.02 and a 200 day moving average price of $25.25.
Brixmor Property Group (NYSE:BRX) last announced its earnings results on Tuesday, April 26th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.02. The business had revenue of $323.10 million for the quarter, compared to analysts’ expectations of $320.70 million. During the same quarter in the prior year, the company posted $0.46 earnings per share. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts predict that Brixmor Property Group Inc. will post $2.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Wednesday, July 6th will be given a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Friday, July 1st.
In other news, EVP Steven F. Siegel sold 6,000 shares of the company’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $25.11, for a total transaction of $150,660.00. Following the sale, the executive vice president now directly owns 338,072 shares in the company, valued at approximately $8,488,987.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Brx Holdco Llc sold 20,000,000 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $25.13, for a total transaction of $502,600,000.00. The disclosure for this sale can be found here.
Several hedge funds have made changes to their positions in BRX. ProShare Advisors LLC boosted its stake in shares of Brixmor Property Group by 11.9% in the fourth quarter. ProShare Advisors LLC now owns 61,475 shares of the real estate investment trust’s stock valued at $1,587,000 after buying an additional 6,529 shares in the last quarter. Eagle Asset Management raised its stake in Brixmor Property Group by 129.9% in the third quarter. Eagle Asset Management now owns 1,081,948 shares of the real estate investment trust’s stock worth $25,404,000 after buying an additional 611,315 shares during the period. Vanguard Group Inc. raised its stake in Brixmor Property Group by 6.0% in the fourth quarter. Vanguard Group Inc. now owns 26,550,288 shares of the real estate investment trust’s stock worth $685,527,000 after buying an additional 1,493,493 shares during the period. Shell Asset Management Co. purchased a new stake in Brixmor Property Group during the fourth quarter worth $2,308,000. Finally, Gulf International Bank UK Ltd raised its stake in Brixmor Property Group by 0.8% in the fourth quarter. Gulf International Bank UK Ltd now owns 63,090 shares of the real estate investment trust’s stock worth $1,629,000 after buying an additional 500 shares during the period.
Brixmor Property Group Inc (BPG) is an internally managed real estate investment trust (REIT). Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership) is the entity through which BPG conducts its operations and owns its assets. BPG owns 100% of the common stock of BPG Subsidiary Inc (BPG Sub), which is the sole member of Brixmor OP GP LLC (the General Partner), the sole general partner of the Operating Partnership.
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