Brixmor Property Group Inc. (BRX) Shares Down 2.8%
Shares of Brixmor Property Group Inc. (NYSE:BRX) dropped 2.8% on Thursday . The company traded as low as $27.22 and last traded at $27.31, with a volume of 14,019,487 shares changing hands. The stock had previously closed at $28.10.
BRX has been the subject of a number of recent analyst reports. Deutsche Bank AG reiterated a “hold” rating and set a $26.00 target price on shares of Brixmor Property Group in a research report on Sunday, May 22nd. JPMorgan Chase & Co. upgraded Brixmor Property Group from an “underweight” rating to a “neutral” rating and set a $26.00 target price for the company in a research report on Friday, June 3rd. Barclays PLC upped their target price on Brixmor Property Group from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 19th. Finally, Citigroup Inc. upgraded Brixmor Property Group from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $28.00 to $31.00 in a research report on Friday. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $27.40.
The company’s 50-day moving average is $27.35 and its 200-day moving average is $25.62. The stock has a market capitalization of $8.45 billion and a PE ratio of 36.00.
Brixmor Property Group (NYSE:BRX) last released its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. The business had revenue of $295.43 million for the quarter, compared to the consensus estimate of $315.21 million. During the same period in the previous year, the company earned $0.49 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Analysts anticipate that Brixmor Property Group Inc. will post $2.06 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.245 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $0.98 dividend on an annualized basis and a dividend yield of 3.49%.
In other Brixmor Property Group news, major shareholder Real Estate Holding Blackstone sold 20,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $26.01, for a total transaction of $520,200,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven F. Siegel sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $28.39, for a total value of $170,340.00. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently bought and sold shares of the company. BlackRock Advisors LLC increased its position in Brixmor Property Group by 26.5% in the fourth quarter. BlackRock Advisors LLC now owns 1,376,837 shares of the real estate investment trust’s stock worth $35,550,000 after buying an additional 288,373 shares during the period. Stephens Inc. AR increased its position in Brixmor Property Group by 10.6% in the fourth quarter. Stephens Inc. AR now owns 100,301 shares of the real estate investment trust’s stock worth $2,590,000 after buying an additional 9,622 shares during the period. I.G. Investment Management LTD. increased its position in Brixmor Property Group by 3.6% in the fourth quarter. I.G. Investment Management LTD. now owns 40,819 shares of the real estate investment trust’s stock worth $1,054,000 after buying an additional 1,435 shares during the period. State of New Jersey Common Pension Fund D increased its position in Brixmor Property Group by 12.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 515,000 shares of the real estate investment trust’s stock worth $13,297,000 after buying an additional 56,000 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in Brixmor Property Group by 6.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 45,177 shares of the real estate investment trust’s stock worth $1,166,000 after buying an additional 2,763 shares during the period.
Brixmor Property Group Inc and subsidiaries (collectively 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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