Brixmor Property Group (NYSE:BRX) Shares Gap Up After Better-Than-Expected Earnings

Brixmor Property Group Inc. (NYSE:BRX)’s stock price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $26.18, but opened at $26.94. Brixmor Property Group shares last traded at $26.83, with a volume of 228,702 shares.

The real estate investment trust reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.31. Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%.

Brixmor Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 4.22%. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, April 2nd. Brixmor Property Group’s dividend payout ratio is presently 106.48%.

Analyst Ratings Changes

Several research analysts have issued reports on BRX shares. BMO Capital Markets upgraded Brixmor Property Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $30.00 to $33.00 in a research report on Friday, December 6th. KeyCorp increased their target price on Brixmor Property Group from $28.00 to $32.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 12th. Mizuho boosted their target price on shares of Brixmor Property Group from $28.00 to $31.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Evercore ISI upgraded shares of Brixmor Property Group from an “in-line” rating to an “outperform” rating and set a $31.00 price target on the stock in a report on Tuesday. Finally, Wells Fargo & Company lowered their price objective on shares of Brixmor Property Group from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Brixmor Property Group has a consensus rating of “Moderate Buy” and an average target price of $30.69.

Insiders Place Their Bets

In other news, insider Steven F. Siegel sold 25,000 shares of the firm’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 sale, the insider now directly owns 315,004 shares in the company, valued at approximately $9,305,218.16. This trade represents a 7.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. UMB Bank n.a. grew its holdings in Brixmor Property Group by 328.6% in the third quarter. UMB Bank n.a. now owns 943 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 723 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in Brixmor Property Group during the 4th quarter worth $26,000. Smartleaf Asset Management LLC increased its position in Brixmor Property Group by 124.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 938 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 521 shares in the last quarter. Quarry LP increased its position in Brixmor Property Group by 36.3% during the 3rd quarter. Quarry LP now owns 1,368 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 364 shares in the last quarter. Finally, Maryland Capital Advisors Inc. purchased a new stake in Brixmor Property Group in the third quarter valued at about $46,000. Institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Stock Performance

The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 25.25, a P/E/G ratio of 2.54 and a beta of 1.58. 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 firm has a fifty day simple moving average of $27.23 and a two-hundred day simple moving average of $27.44.

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.