Brixmor Property Group Inc. (BRX) Sees Strong Trading Volume
Shares of Brixmor Property Group Inc. (NYSE:BRX) saw an uptick in trading volume on Tuesday . 10,179,358 shares were traded during mid-day trading, an increase of 340% from the previous session’s volume of 2,315,753 shares.The stock last traded at $28.18 and had previously closed at $28.27.
Several research firms have recently issued reports on BRX. Barclays PLC raised their target price on shares of Brixmor Property Group from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 19th. JPMorgan Chase & Co. upgraded shares of Brixmor Property Group from an “underweight” rating to a “neutral” rating and set a $26.00 target price for the company in a report on Friday, June 3rd. Mizuho assumed coverage on shares of Brixmor Property Group in a report on Wednesday, April 13th. They issued a “neutral” rating and a $23.00 target price for the company. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $27.00 price objective (up previously from $26.00) on shares of Brixmor Property Group in a report on Monday, July 18th. Eleven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $27.00.
The firm has a 50 day moving average of $26.82 and a 200-day moving average of $25.45. The company has a market cap of $8.47 billion and a P/E ratio of 36.06.
Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Monday, July 25th. The real estate investment trust reported $0.50 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $295.43 million for the quarter, compared to analyst estimates of $315.21 million. Brixmor Property Group’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share. On average, analysts expect that Brixmor Property Group Inc. will post $2.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Wednesday, October 5th will be issued a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Monday, October 3rd.
In related news, major shareholder Brx Holdco Llc sold 20,000,000 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $25.13, for a total transaction of $502,600,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Steven F. Siegel sold 6,000 shares of the stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $26.34, for a total value of $158,040.00. The disclosure for this sale can be found here.
Other large investors recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of 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 valued at $685,527,000 after buying an additional 1,493,493 shares in the last quarter. Eagle Asset Management increased 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. Gulf International Bank UK Ltd increased 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. Rhumbline Advisers increased its stake in Brixmor Property Group by 8.4% in the fourth quarter. Rhumbline Advisers now owns 123,933 shares of the real estate investment trust’s stock worth $3,200,000 after buying an additional 9,590 shares during the period. Finally, Mizuho Trust & Banking Co. Ltd. increased its stake in Brixmor Property Group by 1.5% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 281,205 shares of the real estate investment trust’s stock worth $7,323,000 after buying an additional 4,245 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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