Gabrielle Greene-Sulzberger Buys 1,411 Shares of Brixmor Property Group Inc. (BRX) Stock
Brixmor Property Group Inc. (NYSE:BRX) Director Gabrielle Greene-Sulzberger acquired 1,411 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was bought at an average price of $17.71 per share, with a total value of $24,988.81. Following the purchase, the director now directly owns 16,411 shares in the company, valued at approximately $290,638.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Brixmor Property Group Inc. (BRX) traded up $0.11 during mid-day trading on Friday, reaching $17.93. The company had a trading volume of 3,697,004 shares, compared to its average volume of 2,765,083. The stock has a market capitalization of $5,433.98, a PE ratio of 8.45, a price-to-earnings-growth ratio of 1.92 and a beta of 0.52. Brixmor Property Group Inc. has a 12-month low of $17.23 and a 12-month high of $25.34. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.70.
Brixmor Property Group (NYSE:BRX) last posted its earnings results on Monday, October 30th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.24). The business had revenue of $314.50 million for the quarter, compared to analysts’ expectations of $317.31 million. Brixmor Property Group had a return on equity of 11.08% and a net margin of 25.14%. Brixmor Property Group’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. research analysts predict that Brixmor Property Group Inc. will post 2.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, January 4th will be paid a dividend of $0.275 per share. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, January 3rd. This represents a $1.10 annualized dividend and a yield of 6.13%. Brixmor Property Group’s payout ratio is presently 98.11%.
Brixmor Property Group announced that its board has authorized a stock repurchase program on Tuesday, December 5th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
Several equities analysts have recently issued reports on the company. Mizuho upgraded Brixmor Property Group from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Monday, August 14th. Barclays reiterated a “hold” rating and issued a $22.00 price objective on shares of Brixmor Property Group in a research note on Monday, August 14th. Boenning Scattergood upgraded Brixmor Property Group from a “neutral” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Tuesday, September 12th. BMO Capital Markets assumed coverage on Brixmor Property Group in a research note on Monday, September 11th. They issued a “market perform” rating and a $20.00 price objective for the company. Finally, ValuEngine cut Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Brixmor Property Group presently has a consensus rating of “Hold” and a consensus price target of $22.00.
Hedge funds have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. purchased a new stake in Brixmor Property Group during the third quarter worth approximately $100,000. Pacer Advisors Inc. increased its position in Brixmor Property Group by 8.4% during the second quarter. Pacer Advisors Inc. now owns 7,129 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 554 shares during the period. Meeder Asset Management Inc. increased its position in Brixmor Property Group by 621.1% during the third quarter. Meeder Asset Management Inc. now owns 7,947 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 6,845 shares during the period. PNC Financial Services Group Inc. increased its position in Brixmor Property Group by 159.5% during the second quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 5,203 shares during the period. Finally, LS Investment Advisors LLC increased its position in Brixmor Property Group by 17.5% during the second quarter. LS Investment Advisors LLC now owns 9,557 shares of the real estate investment trust’s stock worth $171,000 after buying an additional 1,420 shares during the period. Hedge funds and other institutional investors own 98.57% of the company’s stock.
Brixmor Property Group Company 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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