Panagora Asset Management Inc. lifted its holdings in shares of Brixmor Property Group Inc (NYSE:BRX) by 561.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,758 shares of the real estate investment trust’s stock after purchasing an additional 72,791 shares during the period. Panagora Asset Management Inc.’s holdings in Brixmor Property Group were worth $1,533,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Russell Investments Group Ltd. lifted its stake in Brixmor Property Group by 8.0% in the second quarter. Russell Investments Group Ltd. now owns 2,539,383 shares of the real estate investment trust’s stock valued at $45,395,000 after buying an additional 188,166 shares during the period. OMERS ADMINISTRATION Corp grew its position in Brixmor Property Group by 742.0% in the 2nd quarter. OMERS ADMINISTRATION Corp now owns 206,300 shares of the real estate investment trust’s stock valued at $3,739,000 after purchasing an additional 181,800 shares during the period. LSV Asset Management increased its stake in Brixmor Property Group by 8.6% during the 2nd quarter. LSV Asset Management now owns 3,202,569 shares of the real estate investment trust’s stock valued at $57,261,000 after purchasing an additional 254,300 shares in the last quarter. Allianz Asset Management GmbH increased its stake in Brixmor Property Group by 16.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 1,201,838 shares of the real estate investment trust’s stock valued at $21,488,000 after purchasing an additional 167,236 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Brixmor Property Group by 6.8% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 58,585 shares of the real estate investment trust’s stock worth $1,047,000 after buying an additional 3,750 shares during the last quarter. Institutional investors own 99.22% of the company’s stock.
BRX has been the topic of a number of recent research reports. Sandler O’Neill upgraded shares of Brixmor Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $19.00 to $21.00 in a report on Tuesday, September 3rd. ValuEngine lowered Brixmor Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Scotiabank cut Brixmor Property Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $20.00 to $19.00 in a research report on Friday, August 16th. Compass Point started coverage on Brixmor Property Group in a report on Thursday, August 15th. They set a “neutral” rating and a $19.00 price target for the company. Finally, Deutsche Bank lowered Brixmor Property Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $20.00 to $19.00 in a research report on Thursday, September 5th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $19.30.
Brixmor Property Group (NYSE:BRX) last announced its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.24). The firm had revenue of $291.00 million during the quarter, compared to analysts’ expectations of $286.99 million. Brixmor Property Group had a return on equity of 12.66% and a net margin of 30.07%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 earnings per share. As a group, analysts forecast that Brixmor Property Group Inc will post 1.91 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, October 4th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 5.69%. The ex-dividend date is Thursday, October 3rd. Brixmor Property Group’s dividend payout ratio is presently 60.54%.
In other news, Director James M. Taylor, Jr. purchased 7,500 shares of the business’s stock in a transaction on Friday, August 16th. The stock was purchased at an average cost of $18.50 per share, with a total value of $138,750.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.40% of the stock is owned by company 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 425 retail centers comprise approximately 74 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.
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