Allstate Corp Reduces Holdings in Brixmor Property Group Inc. (NYSE:BRX)

Allstate Corp reduced its position in Brixmor Property Group Inc. (NYSE:BRX) by 76.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 17,548 shares of the real estate investment trust’s stock after selling 55,541 shares during the period. Allstate Corp’s holdings in Brixmor Property Group were worth $489,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BRX. Quarry LP increased its position in Brixmor Property Group by 36.3% during the third quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 364 shares during the period. US Bancorp DE increased its holdings in shares of Brixmor Property Group by 5.3% in the 4th quarter. US Bancorp DE now owns 8,064 shares of the real estate investment trust’s stock valued at $225,000 after acquiring an additional 405 shares during the period. Oregon Public Employees Retirement Fund raised its position in Brixmor Property Group by 0.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 61,435 shares of the real estate investment trust’s stock valued at $1,710,000 after purchasing an additional 434 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Brixmor Property Group by 5.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 8,761 shares of the real estate investment trust’s stock worth $244,000 after purchasing an additional 441 shares during the period. Finally, CIBC Asset Management Inc grew its position in Brixmor Property Group by 5.8% during the 4th quarter. CIBC Asset Management Inc now owns 9,363 shares of the real estate investment trust’s stock worth $261,000 after purchasing an additional 511 shares during the last quarter. 98.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BRX has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Brixmor Property Group from $27.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Evercore ISI raised Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 price objective for the company in a research note on Tuesday, February 11th. Mizuho lowered their target price on Brixmor Property Group from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 25th. Stifel Nicolaus dropped their target price on Brixmor Property Group from $31.75 to $31.25 and set a “hold” rating on the stock in a report on Tuesday, February 11th. Finally, Jefferies Financial Group raised Brixmor Property Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $28.00 to $33.00 in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $30.48.

Brixmor Property Group Stock Performance

Shares of BRX opened at $26.49 on Wednesday. The company has a market capitalization of $8.10 billion, a PE ratio of 23.86, a P/E/G ratio of 2.66 and a beta of 1.59. Brixmor Property Group Inc. has a 52-week low of $20.80 and a 52-week high of $30.67. The company has a 50-day simple moving average of $26.63 and a 200-day simple moving average of $27.53. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.79.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Monday, February 10th. The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.31. Brixmor Property Group had a net margin of 26.40% and a return on equity of 11.72%. Equities research analysts predict that Brixmor Property Group Inc. will post 2.22 earnings per share for the current fiscal year.

Brixmor Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Wednesday, April 2nd will be given a $0.2875 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.34%. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.29. Brixmor Property Group’s dividend payout ratio (DPR) is currently 103.60%.

About Brixmor Property Group

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.