1832 Asset Management L.P. Buys New Shares in Brixmor Property Group Inc. (NYSE:BRX)

1832 Asset Management L.P. bought a new stake in shares of Brixmor Property Group Inc. (NYSE:BRX) during the first quarter, Holdings Channel reports. The institutional investor bought 723,393 shares of the real estate investment trust’s stock, valued at approximately $16,964,000.

A number of other institutional investors also recently modified their holdings of the stock. Quarry LP bought a new stake in Brixmor Property Group during the 4th quarter valued at $40,000. GAMMA Investing LLC bought a new stake in shares of Brixmor Property Group in the 4th quarter worth $45,000. Larson Financial Group LLC purchased a new position in shares of Brixmor Property Group in the 1st quarter worth about $47,000. Mather Group LLC. purchased a new position in shares of Brixmor Property Group in the 1st quarter worth about $165,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Brixmor Property Group during the fourth quarter valued at about $172,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

BRX has been the topic of several recent research reports. Wells Fargo & Company dropped their price objective on shares of Brixmor Property Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 28th. JPMorgan Chase & Co. dropped their price objective on shares of Brixmor Property Group from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. Mizuho dropped their price objective on shares of Brixmor Property Group from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, May 23rd. Finally, StockNews.com raised shares of Brixmor Property Group from a “hold” rating to a “buy” rating in a report on Monday, July 1st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $25.13.

Insider Buying and Selling

In related news, insider Steven F. Siegel sold 10,000 shares of Brixmor Property Group stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the sale, the insider now directly owns 360,004 shares in the company, valued at approximately $8,640,096. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.76% of the stock is owned by corporate insiders.

Brixmor Property Group Stock Up 1.5 %

Shares of NYSE:BRX traded up $0.36 on Friday, hitting $24.56. 1,633,895 shares of the company traded hands, compared to its average volume of 1,869,871. Brixmor Property Group Inc. has a 52 week low of $19.46 and a 52 week high of $24.97. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 1.86. The stock has a 50 day simple moving average of $22.82 and a 200-day simple moving average of $22.56. The company has a market cap of $7.40 billion, a PE ratio of 26.41, a PEG ratio of 4.29 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results on Tuesday, April 30th. The real estate investment trust reported $0.29 earnings per share 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 quarter in the previous year, the business earned $0.50 earnings per share. Brixmor Property Group’s revenue was up 2.8% compared to the same quarter last year. As a group, research analysts expect that Brixmor Property Group Inc. will post 2.11 earnings per share for the current year.

Brixmor Property Group Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Tuesday, July 2nd were issued a $0.2725 dividend. The ex-dividend date was Tuesday, July 2nd. This represents a $1.09 annualized dividend and a yield of 4.44%. Brixmor Property Group’s payout ratio is 117.21%.

Brixmor Property Group Profile

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.