Sterling Capital Management LLC Invests $717,000 in Brixmor Property Group Inc. (BRX) Stock
Sterling Capital Management LLC bought a new position in shares of Brixmor Property Group Inc. (NYSE:BRX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 38,138 shares of the real estate investment trust’s stock, valued at approximately $717,000.
A number of other institutional investors have also bought and sold shares of the business. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Brixmor Property Group in the third quarter valued at about $100,000. Pacer Advisors Inc. grew its position in shares of Brixmor Property Group by 8.4% in the second quarter. Pacer Advisors Inc. now owns 7,129 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 554 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of Brixmor Property Group by 621.1% in the third quarter. Meeder Asset Management Inc. now owns 7,947 shares of the real estate investment trust’s stock valued at $150,000 after purchasing an additional 6,845 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Brixmor Property Group by 159.5% in the second quarter. PNC Financial Services Group Inc. now owns 8,466 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 5,203 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its position in shares of Brixmor Property Group by 58.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 9,603 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 3,538 shares during the last quarter. 98.30% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on BRX. Boenning Scattergood downgraded Brixmor Property Group from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 14th. ValuEngine upgraded shares of Brixmor Property Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Mizuho cut shares of Brixmor Property Group from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Monday, December 11th. Royal Bank of Canada reiterated a “hold” rating and issued a $22.00 target price on shares of Brixmor Property Group in a research note on Thursday, November 2nd. Finally, Zacks Investment Research cut shares of Brixmor Property Group from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Brixmor Property Group presently has an average rating of “Hold” and a consensus target price of $21.25.
Brixmor Property Group (NYSE:BRX) last released its earnings results on Monday, October 30th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.24). Brixmor Property Group had a net margin of 25.14% and a return on equity of 11.08%. The company had revenue of $314.50 million during the quarter, compared to the consensus estimate of $317.31 million. During the same quarter in the previous year, the business posted $0.51 EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. research analysts forecast that Brixmor Property Group Inc. will post 2.08 EPS for the current year.
The business 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 $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend is Wednesday, January 3rd. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.26. Brixmor Property Group’s dividend payout ratio (DPR) is presently 98.11%.
Brixmor Property Group declared that its Board of Directors has approved a share 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 buy 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.
In other Brixmor Property Group news, EVP Mark Horgan purchased 3,000 shares of the business’s stock in a transaction on Friday, November 3rd. The stock was purchased at an average price of $17.64 per share, for a total transaction of $52,920.00. Following the completion of the purchase, the executive vice president now directly owns 56,703 shares in the company, valued at $1,000,240.92. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.27% of the stock is owned by company insiders.
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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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