State of New Jersey Common Pension Fund D Decreases Stock Position in Brixmor Property Group Inc. (NYSE:BRX)

State of New Jersey Common Pension Fund D lessened its stake in Brixmor Property Group Inc. (NYSE:BRX) by 30.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 291,486 shares of the real estate investment trust’s stock after selling 124,765 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.10% of Brixmor Property Group worth $6,730,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BRX. Blue Trust Inc. boosted its holdings in Brixmor Property Group by 258.9% in the 2nd quarter. Blue Trust Inc. now owns 1,396 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,007 shares during the period. Quarry LP purchased a new position in Brixmor Property Group in the 4th quarter worth approximately $40,000. Larson Financial Group LLC purchased a new position in Brixmor Property Group in the 1st quarter worth approximately $47,000. Abich Financial Wealth Management LLC boosted its holdings in Brixmor Property Group by 50.7% in the 1st quarter. Abich Financial Wealth Management LLC now owns 2,305 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 775 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in Brixmor Property Group by 19.1% in the 2nd quarter. Fifth Third Bancorp now owns 2,684 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 431 shares during the period. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BRX. Truist Financial increased their target price on Brixmor Property Group from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, August 16th. StockNews.com cut Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Mizuho increased their target price on Brixmor Property Group from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. increased their target price on Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, KeyCorp increased their target price on Brixmor Property Group from $26.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.29.

Brixmor Property Group Price Performance

Shares of NYSE BRX opened at $28.02 on Monday. Brixmor Property Group Inc. has a 1-year low of $19.46 and a 1-year high of $28.08. The company has a debt-to-equity ratio of 1.88, a current ratio of 1.50 and a quick ratio of 1.50. The business’s fifty day moving average price is $25.66 and its two-hundred day moving average price is $23.47. The firm has a market capitalization of $8.44 billion, a PE ratio of 30.13, a P/E/G ratio of 4.78 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last issued its earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.29). Brixmor Property Group had a return on equity of 10.34% and a net margin of 23.45%. The company had revenue of $315.69 million during the quarter, compared to analyst estimates of $317.75 million. During the same period in the prior year, the business earned $0.52 earnings per share. Brixmor Property Group’s quarterly revenue was up 1.9% on a year-over-year basis. On average, research analysts expect that Brixmor Property Group Inc. will post 2.13 EPS for the current year.

Brixmor Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, October 2nd will be given a $0.2725 dividend. This represents a $1.09 annualized dividend and a yield of 3.89%. The ex-dividend date is Wednesday, October 2nd. Brixmor Property Group’s dividend payout ratio is presently 117.21%.

Insiders Place Their Bets

In other Brixmor Property Group news, insider Steven F. Siegel sold 10,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the sale, the insider now directly owns 360,004 shares of the company’s stock, valued at $8,640,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Steven F. Siegel sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the transaction, the insider now directly owns 360,004 shares of the company’s stock, valued at $8,640,096. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sheryl Maxwell Crosland sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total value of $127,250.00. Following the transaction, the director now directly owns 46,291 shares in the company, valued at $1,178,105.95. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate 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.