National Bank of Canada FI Sells 345,250 Shares of Brixmor Property Group Inc. (NYSE:BRX)

National Bank of Canada FI lowered its position in Brixmor Property Group Inc. (NYSE:BRX) by 27.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 931,000 shares of the real estate investment trust’s stock after selling 345,250 shares during the period. National Bank of Canada FI’s holdings in Brixmor Property Group were worth $21,618,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Jump Financial LLC bought a new stake in shares of Brixmor Property Group during the 3rd quarter valued at $1,630,000. Chilton Capital Management LLC bought a new position in shares of Brixmor Property Group in the fourth quarter worth approximately $7,510,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Brixmor Property Group by 28.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 185,880 shares of the real estate investment trust’s stock valued at $4,325,000 after buying an additional 40,675 shares during the last quarter. New York State Teachers Retirement System increased its position in shares of Brixmor Property Group by 3.9% during the fourth quarter. New York State Teachers Retirement System now owns 342,436 shares of the real estate investment trust’s stock valued at $7,968,000 after acquiring an additional 12,777 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Brixmor Property Group by 1,073.3% in the 3rd quarter. Deutsche Bank AG now owns 3,019,909 shares of the real estate investment trust’s stock valued at $62,754,000 after acquiring an additional 2,762,529 shares in the last quarter. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Price Performance

NYSE:BRX opened at $22.13 on Tuesday. The business’s 50-day simple moving average is $22.27 and its two-hundred day simple moving average is $22.27. The stock has a market cap of $6.67 billion, a PE ratio of 23.80, a P/E/G ratio of 2.67 and a beta of 1.53. Brixmor Property Group Inc. has a 52 week low of $19.40 and a 52 week high of $24.47. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.86.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data on Tuesday, April 30th. The real estate investment trust reported $0.29 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.22). Brixmor Property Group had a net margin of 22.47% and a return on equity of 9.84%. The company had revenue of $320.24 million for the quarter, compared to the consensus estimate of $314.82 million. During the same period last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, analysts forecast that Brixmor Property Group Inc. will post 2.09 EPS for the current fiscal year.

Brixmor Property Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date of this dividend is Monday, July 1st. Brixmor Property Group’s payout ratio is 117.21%.

Insider Activity

In related news, insider Brian T. Finnegan sold 7,500 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $23.00, for a total transaction of $172,500.00. Following the sale, the insider now owns 225,051 shares in the company, valued at approximately $5,176,173. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Brixmor Property Group news, Director Michael B. Berman sold 10,475 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $22.82, for a total value of $239,039.50. Following the completion of the sale, the director now owns 40,556 shares of the company’s stock, valued at $925,487.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian T. Finnegan sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $23.00, for a total value of $172,500.00. Following the sale, the insider now directly owns 225,051 shares of the company’s stock, valued at $5,176,173. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on BRX. The Goldman Sachs Group decreased their price target on Brixmor Property Group from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, March 27th. Truist Financial reiterated a “buy” rating and issued a $25.00 price target on shares of Brixmor Property Group in a research note on Monday, March 25th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Brixmor Property Group in a research report on Tuesday, January 30th. They set a “buy” rating and a $27.00 price objective on the stock. Stifel Nicolaus lifted their target price on shares of Brixmor Property Group from $22.75 to $24.00 and gave the stock a “hold” rating in a research report on Tuesday, February 13th. Finally, Mizuho reiterated a “neutral” rating and set a $24.00 target price (up from $23.00) on shares of Brixmor Property Group in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.38.

About Brixmor Property Group

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 362 retail centers comprise approximately 64 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision to be the center of the communities we serve and are home to a diverse mix of thriving national, regional and local retailers.