Brixmor Property Group Inc. $BRX Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Increases Holdings

VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Brixmor Property Group Inc. (NYSE:BRX) by 21.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 112,281 shares of the real estate investment trust’s stock after acquiring an additional 20,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Brixmor Property Group were worth $3,099,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Brixmor Property Group in the second quarter valued at about $1,265,950,000. Canada Pension Plan Investment Board bought a new position in Brixmor Property Group during the second quarter worth about $180,406,000. Principal Financial Group Inc. boosted its holdings in Brixmor Property Group by 686.1% during the first quarter. Principal Financial Group Inc. now owns 5,176,486 shares of the real estate investment trust’s stock valued at $149,083,000 after purchasing an additional 4,518,001 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Brixmor Property Group by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,790,090 shares of the real estate investment trust’s stock valued at $137,955,000 after purchasing an additional 64,449 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in Brixmor Property Group during the second quarter valued at approximately $122,922,000. Institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Stock Performance

Shares of Brixmor Property Group stock opened at $29.59 on Tuesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.82. The firm has a market cap of $9.08 billion, a P/E ratio of 21.60, a P/E/G ratio of 2.19 and a beta of 0.97. The firm has a 50 day simple moving average of $28.24 and a 200 day simple moving average of $29.54. Brixmor Property Group Inc. has a fifty-two week low of $24.66 and a fifty-two week high of $32.86.

Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.31). The firm had revenue of $359.60 million for the quarter, compared to the consensus estimate of $357.28 million. Brixmor Property Group had a return on equity of 14.10% and a net margin of 29.96%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 earnings per share. Sell-side analysts predict that Brixmor Property Group Inc. will post 2.37 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 Friday, January 15th. Stockholders of record on Tuesday, January 5th will be given a dividend of $0.33 per share. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.3075. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, January 5th. Brixmor Property Group’s payout ratio is 89.78%.

Analyst Upgrades and Downgrades

BRX has been the subject of a number of recent research reports. Piper Sandler dropped their target price on Brixmor Property Group from $40.00 to $36.00 and set an “overweight” rating for the company in a report on Monday, October 12th. UBS Group cut their target price on Brixmor Property Group from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Wells Fargo & Company raised Brixmor Property Group to a “hold” rating in a research note on Thursday, July 23rd. Truist Financial initiated coverage on Brixmor Property Group in a research report on Friday, October 2nd. They issued a “buy” rating and a $31.00 price target on the stock. Finally, KeyCorp reissued an “overweight” rating and set a $34.00 price objective on shares of Brixmor Property Group in a report on Wednesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $32.95.

Brixmor Property Group Company Profile

Brixmor Property Group Inc (NYSE: BRX) is a real estate investment trust that owns and operates open-air shopping centers across the United States. Its portfolio is primarily focused on grocery-anchored community and neighborhood centers located in established, densely populated markets.

The company leases retail space to a diverse mix of tenants, including grocery stores, restaurants, service businesses, health and wellness providers, and other essential retailers. Brixmor also manages property operations and pursues redevelopment, re-tenanting, and leasing initiatives designed to enhance the functionality and long-term value of its shopping centers.

Brixmor became a publicly traded company in 2013 after being separated from an ownership structure associated with Blackstone.