Brixmor Property Group Inc. (NYSE:BRX) Shares Sold by Pitcairn Co.

Pitcairn Co. trimmed its stake in shares of Brixmor Property Group Inc. (NYSE:BRX) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,144 shares of the real estate investment trust’s stock after selling 487 shares during the quarter. Pitcairn Co.’s holdings in Brixmor Property Group were worth $338,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. PGGM Investments boosted its holdings in Brixmor Property Group by 167.2% in 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 during the last quarter. Boston Partners boosted its stake in shares of Brixmor Property Group by 1,140.5% in the first quarter. Boston Partners now owns 545,367 shares of the real estate investment trust’s stock worth $12,774,000 after acquiring an additional 501,403 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Brixmor Property Group by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,959,993 shares of the real estate investment trust’s stock worth $138,185,000 after purchasing an additional 159,388 shares in the last quarter. Wolverine Asset Management LLC acquired a new position in Brixmor Property Group in the 2nd quarter valued at $494,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in Brixmor Property Group in the 2nd quarter valued at $228,000. Institutional investors and hedge funds own 98.43% of the company’s stock.

Wall Street Analyst Weigh In

BRX has been the subject of a number of research reports. The Goldman Sachs Group upped their target price on shares of Brixmor Property Group from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Evercore ISI upped 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 research note on Monday, September 16th. Stifel Nicolaus increased their price objective on shares of Brixmor Property Group from $25.50 to $27.50 and gave the company a “hold” rating in a report on Tuesday, October 29th. Truist Financial boosted their target price on Brixmor Property Group from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Wells Fargo & Company increased their price target 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. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Brixmor Property Group presently has an average rating of “Moderate Buy” and an average price target of $29.38.

Brixmor Property Group Trading Up 0.9 %

NYSE BRX opened at $30.28 on Wednesday. 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 stock has a market capitalization of $9.15 billion, a P/E ratio of 28.04, a PEG ratio of 4.07 and a beta of 1.57. The firm’s 50-day moving average is $28.05 and its two-hundred day moving average is $25.56. Brixmor Property Group Inc. has a 12 month low of $20.80 and a 12 month high of $30.31.

Brixmor Property Group (NYSE:BRX) last issued its quarterly earnings data on Monday, October 28th. The real estate investment trust reported $0.32 EPS for the quarter, missing the consensus estimate 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 during 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% compared to the same quarter last year. On average, sell-side analysts anticipate that Brixmor Property Group Inc. will post 2.14 earnings per share for the current year.

Brixmor Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd will be paid a $0.287 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.27. This represents a $1.15 dividend on an annualized basis and a dividend yield of 3.79%. Brixmor Property Group’s payout ratio is presently 106.48%.

Insider Activity

In other Brixmor Property Group news, insider Steven F. Siegel sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $29.54, for a total value of $738,500.00. Following the completion of the transaction, the insider now owns 315,004 shares of the company’s stock, valued at $9,305,218.16. This trade represents a 7.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.76% of the company’s stock.

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.