Algert Global LLC Raises Stock Position in Brixmor Property Group Inc. (NYSE:BRX)

Algert Global LLC grew its stake in Brixmor Property Group Inc. (NYSE:BRX) by 19.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 633,843 shares of the real estate investment trust’s stock after buying an additional 103,527 shares during the period. Brixmor Property Group makes up about 0.4% of Algert Global LLC’s holdings, making the stock its 11th biggest holding. Algert Global LLC’s holdings in Brixmor Property Group were worth $16,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in BRX. Invesco Ltd. raised its holdings in Brixmor Property Group by 12.5% in the 1st quarter. Invesco Ltd. now owns 6,467,925 shares of the real estate investment trust’s stock worth $171,723,000 after purchasing an additional 719,433 shares in the last quarter. Deutsche Bank AG grew its position in shares of Brixmor Property Group by 31.3% in the 4th quarter. Deutsche Bank AG now owns 5,882,828 shares of the real estate investment trust’s stock worth $163,778,000 after buying an additional 1,404,034 shares during the period. Ameriprise Financial Inc. grew its position in shares of Brixmor Property Group by 7.8% in the 4th quarter. Ameriprise Financial Inc. now owns 5,453,599 shares of the real estate investment trust’s stock worth $151,155,000 after buying an additional 393,317 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Brixmor Property Group by 3.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,141,430 shares of the real estate investment trust’s stock worth $136,505,000 after buying an additional 189,562 shares during the period. Finally, Northern Trust Corp grew its position in shares of Brixmor Property Group by 96.2% in the 4th quarter. Northern Trust Corp now owns 4,870,342 shares of the real estate investment trust’s stock worth $135,590,000 after buying an additional 2,388,264 shares during the period. 98.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group initiated coverage on shares of Brixmor Property Group in a research report on Friday, May 30th. They set a “buy” rating and a $29.00 price objective on the stock. Mizuho upgraded shares of Brixmor Property Group from a “neutral” rating to an “outperform” rating and set a $29.00 price objective on the stock in a research note on Thursday, July 17th. Scotiabank decreased their target price on shares of Brixmor Property Group from $30.00 to $29.00 and set a “sector outperform” rating on the stock in a research note on Monday, May 12th. The Goldman Sachs Group cut their price objective on shares of Brixmor Property Group from $33.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Finally, Stifel Nicolaus cut their price objective on shares of Brixmor Property Group from $29.50 to $29.00 and set a “hold” rating for the company in a report on Tuesday, July 29th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.08.

Brixmor Property Group Trading Up 0.2%

BRX stock opened at $26.44 on Friday. The firm has a fifty day moving average price of $25.90 and a 200 day moving average price of $25.89. Brixmor Property Group Inc. has a fifty-two week low of $22.28 and a fifty-two week high of $30.67. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a market cap of $8.09 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 2.74 and a beta of 1.29.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $339.40 million during the quarter, compared to analyst estimates of $332.59 million. Brixmor Property Group had a net margin of 25.27% and a return on equity of 11.39%. Brixmor Property Group’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.54 earnings per share. Sell-side analysts anticipate that Brixmor Property Group Inc. will post 2.22 earnings per share for the current fiscal year.

Brixmor Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.2875 per share. This represents a $1.15 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Thursday, October 2nd. Brixmor Property Group’s payout ratio is currently 104.55%.

Brixmor Property Group Profile

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.