Brixmor Property Group Inc. (BRX) Position Reduced by Rainier Investment Management LLC
Rainier Investment Management LLC cut its stake in shares of Brixmor Property Group Inc. (NYSE:BRX) by 50.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 211,230 shares of the real estate investment trust’s stock after selling 210,860 shares during the period. Rainier Investment Management LLC’s holdings in Brixmor Property Group were worth $3,777,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Brixmor Property Group by 1.1% in the first quarter. Vanguard Group Inc. now owns 47,200,813 shares of the real estate investment trust’s stock valued at $1,012,929,000 after buying an additional 526,981 shares during the period. BlackRock Inc. boosted its stake in Brixmor Property Group by 2,015.3% in the first quarter. BlackRock Inc. now owns 21,523,219 shares of the real estate investment trust’s stock valued at $461,888,000 after buying an additional 20,505,706 shares during the period. Goldman Sachs Group Inc. boosted its stake in Brixmor Property Group by 6.5% in the first quarter. Goldman Sachs Group Inc. now owns 13,138,135 shares of the real estate investment trust’s stock valued at $281,944,000 after buying an additional 797,075 shares during the period. State Street Corp boosted its stake in Brixmor Property Group by 3.8% in the first quarter. State Street Corp now owns 9,633,414 shares of the real estate investment trust’s stock valued at $206,723,000 after buying an additional 350,623 shares during the period. Finally, Lasalle Investment Management Securities LLC boosted its stake in Brixmor Property Group by 4.3% in the first quarter. Lasalle Investment Management Securities LLC now owns 8,732,564 shares of the real estate investment trust’s stock valued at $187,401,000 after buying an additional 361,710 shares during the period.
Brixmor Property Group Inc. (NYSE BRX) opened at 19.10 on Friday. Brixmor Property Group Inc. has a 52 week low of $17.35 and a 52 week high of $29.14. The company has a 50-day moving average of $18.95 and a 200-day moving average of $20.34. The company has a market cap of $5.82 billion, a PE ratio of 19.57 and a beta of 0.53.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $0.53 EPS for the quarter, beating the consensus estimate of $0.51 by $0.02. The firm had revenue of $322.80 million for the quarter, compared to analyst estimates of $315.69 million. Brixmor Property Group had a return on equity of 10.22% and a net margin of 23.06%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. On average, equities analysts expect that Brixmor Property Group Inc. will post $0.86 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Thursday, October 5th will be paid a dividend of $0.26 per share. The ex-dividend date is Wednesday, October 4th. This represents a $1.04 annualized dividend and a dividend yield of 5.45%. Brixmor Property Group’s dividend payout ratio is currently 106.12%.
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A number of analysts have recently commented on BRX shares. Barclays PLC dropped their target price on shares of Brixmor Property Group from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Friday, June 16th. Zacks Investment Research upgraded shares of Brixmor Property Group from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. Royal Bank Of Canada restated a “hold” rating and set a $23.00 target price on shares of Brixmor Property Group in a report on Monday, June 19th. Citigroup Inc. dropped their target price on shares of Brixmor Property Group from $26.00 to $20.50 and set a “neutral” rating on the stock in a report on Tuesday, May 9th. Finally, BidaskClub upgraded shares of Brixmor Property Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $25.55.
In other news, insider James M. Taylor, Jr. purchased 15,600 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average price of $19.24 per share, for a total transaction of $300,144.00. Following the completion of the purchase, the insider now owns 224,793 shares in the company, valued at approximately $4,325,017.32. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.27% of the company’s stock.
About Brixmor Property Group
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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