Algert Global LLC Grows Stock Holdings in Brixmor Property Group Inc. (NYSE:BRX)

Algert Global LLC grew its holdings in Brixmor Property Group Inc. (NYSE:BRX) by 128.9% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 477,318 shares of the real estate investment trust’s stock after acquiring an additional 268,816 shares during the period. Algert Global LLC’s holdings in Brixmor Property Group were worth $13,298,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BRX. PGGM Investments lifted its holdings in shares of Brixmor Property Group by 167.2% in the 2nd quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock valued at $86,847,000 after acquiring an additional 2,353,582 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in Brixmor Property Group during the second quarter valued at approximately $49,546,000. Canada Pension Plan Investment Board lifted its stake in shares of Brixmor Property Group by 37.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 7,324,870 shares of the real estate investment trust’s stock valued at $169,131,000 after purchasing an additional 1,995,299 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Brixmor Property Group by 35.5% in the 2nd quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust’s stock worth $132,443,000 after purchasing an additional 1,501,282 shares during the period. Finally, 1832 Asset Management L.P. purchased a new position in shares of Brixmor Property Group in the 1st quarter worth approximately $16,964,000. 98.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BRX has been the topic of several recent research reports. KeyCorp increased their price target on Brixmor Property Group from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. Wells Fargo & Company raised their target price on shares of Brixmor Property Group from $24.00 to $28.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 28th. Compass Point upped their price target on shares of Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. The Goldman Sachs Group raised their price objective on shares of Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Piper Sandler restated an “overweight” rating and set a $33.00 target price (up previously from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.13.

Brixmor Property Group Price Performance

Shares of BRX stock opened at $29.83 on Friday. Brixmor Property Group Inc. has a twelve month low of $20.80 and a twelve month high of $29.99. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85. The stock has a fifty day simple moving average of $27.97 and a two-hundred day simple moving average of $25.40. The stock has a market capitalization of $9.01 billion, a price-to-earnings ratio of 27.62, a P/E/G ratio of 4.05 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.21). The business had revenue of $320.68 million during the quarter, compared to analysts’ expectations of $320.22 million. Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. On average, analysts predict that Brixmor Property Group Inc. will post 2.14 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.287 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.15 dividend on an annualized basis and a yield of 3.85%. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s dividend payout ratio is currently 100.93%.

Insider Buying and Selling

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total value of $738,500.00. Following the completion of the transaction, the insider now directly owns 315,004 shares in the company, valued at approximately $9,305,218.16. The trade was a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.76% of the stock is currently owned by company insiders.

Brixmor Property Group Company 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.