Raymond James & Associates Acquires 84,395 Shares of Brixmor Property Group Inc. (NYSE:BRX)

Raymond James & Associates grew its holdings in Brixmor Property Group Inc. (NYSE:BRX) by 633.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 97,728 shares of the real estate investment trust’s stock after purchasing an additional 84,395 shares during the quarter. Raymond James & Associates’ holdings in Brixmor Property Group were worth $2,723,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Friedenthal Financial bought a new stake in Brixmor Property Group during the third quarter valued at about $760,000. First Citizens Bank & Trust Co. acquired a new position in Brixmor Property Group during the 3rd quarter valued at about $265,000. Blue Trust Inc. raised its stake in Brixmor Property Group by 103.7% in the third quarter. Blue Trust Inc. now owns 2,844 shares of the real estate investment trust’s stock valued at $79,000 after buying an additional 1,448 shares during the last quarter. Vert Asset Management LLC raised its stake in Brixmor Property Group by 2.8% in the third quarter. Vert Asset Management LLC now owns 119,534 shares of the real estate investment trust’s stock valued at $3,330,000 after buying an additional 3,250 shares during the last quarter. Finally, Harbour Capital Advisors LLC acquired a new stake in Brixmor Property Group in the third quarter worth about $696,000. Hedge funds and other institutional investors own 98.43% of the company’s stock.

Brixmor Property Group Stock Up 3.1 %

Brixmor Property Group stock opened at $27.94 on Tuesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.38 and a quick ratio of 1.50. The stock has a market capitalization of $8.44 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 4.39 and a beta of 1.57. The business has a 50 day simple moving average of $27.54 and a 200-day simple moving average of $24.77. Brixmor Property Group Inc. has a 12 month low of $20.69 and a 12 month high of $28.45.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.32 earnings per share 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 analyst estimates of $320.22 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. On average, analysts anticipate that Brixmor Property Group Inc. will post 2.14 EPS for the current fiscal year.

Brixmor Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be paid a $0.287 dividend. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Friday, January 3rd. Brixmor Property Group’s dividend payout ratio is currently 100.93%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Brixmor Property Group from $27.00 to $28.00 and gave the company an “in-line” rating in a report on Monday, September 16th. The Goldman Sachs Group boosted their target price on shares of Brixmor Property Group from $26.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $33.00 price objective (up previously from $30.00) on shares of Brixmor Property Group in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on Brixmor Property Group from $26.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Mizuho lifted their price target on Brixmor Property Group from $23.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Brixmor Property Group has an average rating of “Moderate Buy” and an average target price of $28.54.

Insider Buying and Selling at Brixmor Property Group

In other news, Director Sheryl Maxwell Crosland sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $25.45, for a total transaction of $127,250.00. Following the completion of the sale, the director now owns 46,291 shares of the company’s stock, valued at $1,178,105.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.76% of the stock is currently owned by insiders.

About Brixmor Property Group

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.