US Bancorp DE Cuts Stock Holdings in Brixmor Property Group Inc. (NYSE:BRX)

US Bancorp DE reduced its stake in Brixmor Property Group Inc. (NYSE:BRX) by 20.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,659 shares of the real estate investment trust’s stock after selling 1,973 shares during the quarter. US Bancorp DE’s holdings in Brixmor Property Group were worth $213,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BRX. Canada Pension Plan Investment Board bought a new position in shares of Brixmor Property Group during the first quarter valued at about $124,978,000. PGGM Investments lifted its position in shares of Brixmor Property Group by 167.2% during the 2nd quarter. PGGM Investments now owns 3,761,248 shares of the real estate investment trust’s stock worth $86,847,000 after buying an additional 2,353,582 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in shares of Brixmor Property Group in the 2nd quarter worth approximately $49,546,000. Millennium Management LLC grew its holdings in shares of Brixmor Property Group by 35.5% in the second quarter. Millennium Management LLC now owns 5,735,933 shares of the real estate investment trust’s stock valued at $132,443,000 after acquiring an additional 1,501,282 shares in the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in shares of Brixmor Property Group during the first quarter valued at approximately $16,964,000. 98.43% of the stock is currently owned by institutional investors.

Brixmor Property Group Trading Down 0.6 %

NYSE:BRX opened at $28.68 on Friday. Brixmor Property Group Inc. has a 1 year low of $20.80 and a 1 year high of $29.19. The stock’s fifty day moving average price is $27.76 and its two-hundred day moving average price is $25.15. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $8.66 billion, a P/E ratio of 26.56, a P/E/G ratio of 3.92 and a beta of 1.57.

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

Brixmor Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be given a $0.287 dividend. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date is Friday, January 3rd. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. Brixmor Property Group’s dividend payout ratio (DPR) is 106.48%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BRX shares. Wells Fargo & Company boosted their price objective on Brixmor Property Group from $24.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 28th. Piper Sandler restated an “overweight” rating and set a $33.00 price target (up previously from $30.00) on shares of Brixmor Property Group in a research report on Wednesday, July 31st. Stifel Nicolaus boosted their target price on shares of Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a research note on Tuesday, October 29th. Mizuho raised their price target on shares of Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. upped their price objective 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. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.88.

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.