Brixmor Property Group Inc. (BRX) Trading Down 2.8%
Brixmor Property Group Inc. (NYSE:BRX) traded down 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. The stock had previously closed at $28.10.
A number of equities research analysts recently weighed in on the company. Barclays PLC lifted their target price on Brixmor Property Group from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 19th. Mizuho assumed coverage on Brixmor Property Group in a research report on Wednesday, April 13th. They set a “neutral” rating and a $23.00 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 report on Friday, June 3rd. Finally, Deutsche Bank AG reissued a “hold” rating and set a $26.00 target price on shares of Brixmor Property Group in a research report on Sunday, May 22nd. Eleven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.00.
The stock has a market capitalization of $8.25 billion and a P/E ratio of 35.14. The stock’s 50-day moving average price is $27.28 and its 200-day moving average price is $25.58.
Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Monday, July 25th. The real estate investment trust reported $0.50 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The company earned $295.43 million during the quarter, compared to the consensus estimate of $315.21 million. Brixmor Property Group’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. On average, equities analysts forecast that Brixmor Property Group Inc. will post $2.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Wednesday, October 5th will be paid a $0.245 dividend. This represents a $0.98 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Monday, October 3rd.
In other news, major shareholder Real Estate Holding Blackstone sold 20,000,000 shares of the firm’s stock in a transaction on Wednesday, July 6th. The shares were 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Steven F. Siegel sold 6,000 shares of the firm’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $26.34, for a total transaction of $158,040.00. The disclosure for this sale can be found here.
Several institutional investors have added to or reduced their stakes in the stock. 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 valued at $35,550,000 after buying an additional 288,373 shares during the last quarter. Foresters Investment Management Company Inc. boosted its stake in Brixmor Property Group by 4.3% in the fourth quarter. Foresters Investment Management Company Inc. now owns 1,741,625 shares of the real estate investment trust’s stock valued at $44,969,000 after buying an additional 72,300 shares during the period. Stephens Inc. AR boosted its stake 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 valued at $2,590,000 after buying an additional 9,622 shares during the period. I.G. Investment Management LTD. boosted its stake 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 valued at $1,054,000 after buying an additional 1,435 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its stake 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 valued at $13,297,000 after buying an additional 56,000 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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