Alyeska Investment Group L.P. Increases Stake in Brixmor Property Group Inc. (BRX)
Alyeska Investment Group L.P. grew its position in shares of Brixmor Property Group Inc. (NYSE:BRX) by 27.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,700 shares of the real estate investment trust’s stock after buying an additional 17,109 shares during the quarter. Alyeska Investment Group L.P.’s holdings in Brixmor Property Group were worth $1,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. acquired a new stake in Brixmor Property Group in the 3rd quarter worth approximately $100,000. Pacer Advisors Inc. lifted its holdings in Brixmor Property Group by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 7,129 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 554 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in Brixmor Property Group by 621.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 7,947 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 6,845 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Brixmor Property Group by 159.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 5,203 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in Brixmor Property Group by 58.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 9,603 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 3,538 shares during the last quarter. Hedge funds and other institutional investors own 98.57% of the company’s stock.
Brixmor Property Group Inc. (BRX) opened at $18.25 on Thursday. The company has a market capitalization of $5,513.27, a P/E ratio of 8.57, a price-to-earnings-growth ratio of 1.95 and a beta of 0.52. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.96. Brixmor Property Group Inc. has a 1 year low of $17.23 and a 1 year high of $25.34.
Brixmor Property Group (NYSE:BRX) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.24). The firm had revenue of $314.50 million for the quarter, compared to the consensus estimate of $317.31 million. Brixmor Property Group had a net margin of 25.14% and a return on equity of 11.08%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. equities analysts anticipate that Brixmor Property Group Inc. will post 2.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Thursday, January 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, January 3rd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.26. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.03%. Brixmor Property Group’s payout ratio is currently 98.11%.
Brixmor Property Group announced that its Board of Directors has approved a stock buyback plan on Tuesday, December 5th that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
Several equities research analysts recently weighed in on the company. Boenning Scattergood upgraded Brixmor Property Group from a “neutral” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Tuesday, September 12th. BMO Capital Markets assumed coverage on Brixmor Property Group in a report on Monday, September 11th. They issued a “market perform” rating and a $20.00 target price for the company. ValuEngine lowered Brixmor Property Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. KeyCorp restated a “hold” rating on shares of Brixmor Property Group in a report on Friday, August 25th. Finally, Zacks Investment Research lowered Brixmor Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $21.94.
In other news, EVP Mark Horgan acquired 3,000 shares of the stock in a transaction dated Friday, November 3rd. The shares were acquired at an average cost of $17.64 per share, for a total transaction of $52,920.00. Following the completion of the transaction, the executive vice president now owns 56,703 shares in the company, valued at approximately $1,000,240.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.
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Brixmor Property Group Profile
Brixmor Property Group Inc is an internally managed real estate investment trust. The Company conducts its operations primarily through Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership). As of December 31, 2016, it owned interests in 512 shopping centers (the Portfolio) with approximately 86 million square feet of gross leasable area (GLA), including 511 shopping centers and one shopping center held through an unconsolidated joint venture.
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