Glenmede Trust Co. NA Purchases 6,399 Shares of Brixmor Property Group Inc (BRX)
Glenmede Trust Co. NA grew its position in shares of Brixmor Property Group Inc (NYSE:BRX) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 942,899 shares of the real estate investment trust’s stock after buying an additional 6,399 shares during the period. Glenmede Trust Co. NA’s holdings in Brixmor Property Group were worth $17,592,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Brixmor Property Group during the 3rd quarter valued at $100,000. CIBC Asset Management Inc purchased a new position in shares of Brixmor Property Group during the 3rd quarter valued at $191,000. IFM Investors Pty Ltd purchased a new position in shares of Brixmor Property Group during the 3rd quarter valued at $197,000. Meeder Asset Management Inc. lifted its position in shares of Brixmor Property Group by 53.2% during the 4th quarter. Meeder Asset Management Inc. now owns 12,172 shares of the real estate investment trust’s stock valued at $227,000 after buying an additional 4,225 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Brixmor Property Group by 244.2% during the 3rd quarter. Toronto Dominion Bank now owns 12,877 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 9,136 shares during the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on BRX shares. Stifel Nicolaus began coverage on Brixmor Property Group in a research report on Thursday, November 30th. They set a “hold” rating and a $19.00 price target on the stock. BMO Capital Markets set a $19.00 price objective on Brixmor Property Group and gave the company a “hold” rating in a research note on Tuesday, December 5th. Boenning Scattergood reiterated a “buy” rating and set a $22.00 price objective on shares of Brixmor Property Group in a research note on Thursday, December 7th. Mizuho lowered Brixmor Property Group from a “buy” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research note on Monday, December 11th. Finally, ValuEngine lowered Brixmor Property Group from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $18.40.
Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, February 12th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.27). The business had revenue of $320.06 million during the quarter, compared to the consensus estimate of $312.97 million. Brixmor Property Group had a return on equity of 10.30% and a net margin of 23.40%. Brixmor Property Group’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 earnings per share. research analysts anticipate that Brixmor Property Group Inc will post 2 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, April 5th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a $1.10 dividend on an annualized basis and a yield of 7.34%. Brixmor Property Group’s dividend payout ratio is currently 112.24%.
Brixmor Property Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, December 5th that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other Brixmor Property Group news, CEO James M. Taylor, Jr. bought 7,500 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were acquired at an average cost of $15.55 per share, for a total transaction of $116,625.00. Following the purchase, the chief executive officer now directly owns 216,884 shares of the company’s stock, valued at $3,372,546.20. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark Horgan bought 4,500 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was acquired at an average price of $14.94 per share, for a total transaction of $67,230.00. Following the completion of the purchase, the executive vice president now directly owns 62,769 shares in the company, valued at $937,768.86. The disclosure for this purchase can be found here. Insiders acquired a total of 12,750 shares of company stock worth $195,495 over the last 90 days. Corporate insiders own 0.27% of the company’s stock.
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About Brixmor Property Group
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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