Creative Planning Raises Stake in Brixmor Property Group Inc. (NYSE:BRX)

Creative Planning raised its stake in Brixmor Property Group Inc. (NYSE:BRX) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,491 shares of the real estate investment trust’s stock after buying an additional 876 shares during the quarter. Creative Planning’s holdings in Brixmor Property Group were worth $432,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new stake in Brixmor Property Group in the 1st quarter valued at $47,000. PGGM Investments grew its holdings 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 purchasing an additional 2,353,582 shares during the period. 1832 Asset Management L.P. purchased a new position in shares of Brixmor Property Group during the 1st quarter worth $16,964,000. SG Americas Securities LLC grew its holdings in shares of Brixmor Property Group by 115.8% during the 1st quarter. SG Americas Securities LLC now owns 136,678 shares of the real estate investment trust’s stock worth $3,205,000 after purchasing an additional 73,335 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Brixmor Property Group during the 1st quarter worth $124,978,000. 98.43% of the stock is currently owned by hedge funds and other institutional investors.

Brixmor Property Group Price Performance

Shares of NYSE:BRX opened at $28.33 on Thursday. The stock’s 50-day moving average price is $27.59 and its two-hundred day moving average price is $24.89. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.85. Brixmor Property Group Inc. has a 12-month low of $20.69 and a 12-month high of $28.88. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 4.42 and a beta of 1.57.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings results 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). The business had revenue of $320.68 million during the quarter, compared to analyst estimates of $320.22 million. Brixmor Property Group had a return on equity of 11.48% and a net margin of 25.81%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. On average, research analysts forecast that Brixmor Property Group Inc. will post 2.14 EPS for the current year.

Brixmor Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, January 3rd will be issued a dividend of $0.287 per share. This is an increase from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, January 3rd. Brixmor Property Group’s dividend payout ratio (DPR) is presently 106.48%.

Insider Activity at Brixmor Property Group

In related news, Director Sheryl Maxwell Crosland sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $25.45, for a total transaction of $127,250.00. Following the sale, the director now directly owns 46,291 shares in the company, valued at approximately $1,178,105.95. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on BRX shares. Mizuho increased their price target on Brixmor Property Group from $23.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Piper Sandler restated an “overweight” rating and set a $33.00 target price (up from $30.00) on shares of Brixmor Property Group in a report on Wednesday, July 31st. Compass Point raised their target price on Brixmor Property Group from $28.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Wells Fargo & Company raised their target price on Brixmor Property Group from $24.00 to $28.00 and gave the company an “equal weight” rating in a report on Wednesday, August 28th. Finally, Evercore ISI raised their target price on Brixmor Property Group from $27.00 to $28.00 and gave the company an “in-line” rating in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Brixmor Property Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.54.

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.