The Manufacturers Life Insurance Company Has $362,000 Position in Brixmor Property Group Inc. (BRX)
The Manufacturers Life Insurance Company increased its stake in shares of Brixmor Property Group Inc. (NYSE:BRX) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,283 shares of the real estate investment trust’s stock after purchasing an additional 712 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Brixmor Property Group were worth $362,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. grew its stake in shares of Brixmor Property Group by 8.4% during the second quarter. Pacer Advisors Inc. now owns 7,129 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 554 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Brixmor Property Group by 159.5% during the second quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 5,203 shares during the period. LS Investment Advisors LLC grew its stake in shares of Brixmor Property Group by 17.5% during the second quarter. LS Investment Advisors LLC now owns 9,557 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 1,420 shares during the period. Public Employees Retirement Association of Colorado grew its stake in shares of Brixmor Property Group by 58.3% during the second quarter. Public Employees Retirement Association of Colorado now owns 9,603 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 3,538 shares during the period. Finally, Aberdeen Asset Management PLC UK acquired a new stake in shares of Brixmor Property Group during the second quarter worth $223,000. 98.54% of the stock is owned by institutional investors and hedge funds.
BRX has been the topic of several recent analyst reports. Zacks Investment Research upgraded Brixmor Property Group from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Citigroup lifted their target price on Brixmor Property Group from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Monday, August 7th. Barclays reiterated a “hold” rating and set a $22.00 target price on shares of Brixmor Property Group in a report on Monday, August 14th. Mizuho upgraded Brixmor Property Group from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Monday, August 14th. Finally, KeyCorp reiterated a “hold” rating on shares of Brixmor Property Group in a report on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $22.11.
In other news, EVP Mark Horgan purchased 3,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were bought at an average cost of $17.64 per share, for a total transaction of $52,920.00. Following the completion of the acquisition, the executive vice president now directly owns 56,703 shares in the company, valued at approximately $1,000,240.92. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.27% of the company’s stock.
Brixmor Property Group Inc. (NYSE BRX) traded down $0.17 during mid-day trading on Friday, reaching $18.07. The company’s stock had a trading volume of 2,467,000 shares, compared to its average volume of 2,847,766. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $5,510.00, a price-to-earnings ratio of 8.64, a PEG ratio of 1.93 and a beta of 0.51. Brixmor Property Group Inc. has a 52-week low of $17.23 and a 52-week high of $25.34.
Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.24). The firm had revenue of $314.50 million during the quarter, compared to the consensus estimate of $317.31 million. Brixmor Property Group had a net margin of 25.14% and a return on equity of 11.08%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. sell-side analysts expect that Brixmor Property Group Inc. will post 2.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Thursday, January 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.09%. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, January 3rd. Brixmor Property Group’s payout ratio is 98.11%.
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Brixmor Property Group Company Profile
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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