Shell Asset Management Co. cut its stake in shares of Brixmor Property Group Inc. (NYSE:BRX) by 87.5% during the second quarter, Holdings Channel reports. The fund owned 10,913 shares of the real estate investment trust’s stock after selling 76,544 shares during the period. Shell Asset Management Co.’s holdings in Brixmor Property Group were worth $289,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Brixmor Property Group by 56.4% in the first quarter. BlackRock Inc. now owns 537,055 shares of the real estate investment trust’s stock valued at $13,759,000 after buying an additional 193,613 shares during the last quarter. BlackRock Fund Advisors increased its stake in Brixmor Property Group by 9.7% in the first quarter. BlackRock Fund Advisors now owns 3,653,562 shares of the real estate investment trust’s stock valued at $93,604,000 after buying an additional 321,837 shares during the last quarter. BlackRock Japan Co. Ltd increased its stake in Brixmor Property Group by 0.9% in the first quarter. BlackRock Japan Co. Ltd now owns 229,450 shares of the real estate investment trust’s stock valued at $5,879,000 after buying an additional 2,070 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Brixmor Property Group during the first quarter valued at $2,344,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Brixmor Property Group during the first quarter valued at $361,000.
Shares of Brixmor Property Group Inc. (NYSE:BRX) traded up 1.07% during midday trading on Wednesday, reaching $26.42. The company had a trading volume of 900,552 shares. Brixmor Property Group Inc. has a 52-week low of $19.91 and a 52-week high of $29.14. The company’s 50 day moving average price is $27.81 and its 200 day moving average price is $26.66. The stock has a market capitalization of $7.96 billion, a PE ratio of 33.87 and a beta of 0.55.
Brixmor Property Group (NYSE:BRX) last announced its earnings results on Monday, July 25th. The real estate investment trust reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. Brixmor Property Group had a return on equity of 8.03% and a net margin of 18.41%. The company earned $295.43 million during the quarter, compared to analysts’ expectations of $315.21 million. During the same period last year, the business posted $0.49 EPS. Brixmor Property Group’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts expect that Brixmor Property Group Inc. will post $2.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Wednesday, October 5th will be given a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Monday, October 3rd. Brixmor Property Group’s dividend payout ratio is currently 127.27%.
BRX has been the subject of several recent research reports. Deutsche Bank AG restated a “hold” rating and issued a $27.00 price objective (up from $26.00) on shares of Brixmor Property Group in a report on Monday, July 18th. Barclays PLC boosted their target price on shares of Brixmor Property Group from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 19th. Citigroup Inc. upgraded shares of Brixmor Property Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $28.00 to $31.00 in a report on Friday, August 12th. Stifel Nicolaus upgraded shares of Brixmor Property Group from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Monday, August 15th. They noted that the move was a valuation call. Finally, Evercore ISI upgraded shares of Brixmor Property Group from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Monday, August 22nd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. Brixmor Property Group has a consensus rating of “Hold” and an average target price of $28.36.
In other Brixmor Property Group news, major shareholder Brx Holdco Llc sold 42,400,000 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $27.30, for a total value of $1,157,520,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven F. Siegel sold 6,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $28.39, for a total value of $170,340.00. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.
Brixmor Property Group Company Profile
Brixmor Property Group Inc and subsidiaries (collectively BPG) is an internally managed real estate investment trust (REIT). Brixmor Operating Partnership LP and subsidiaries (collectively, the Operating Partnership) is the entity through which BPG conducts its operations and owns its assets. BPG owns 100% of the common stock of BPG Subsidiary Inc (BPG Sub), which is the sole member of Brixmor OP GP LLC (the General Partner), the sole general partner of the Operating Partnership.
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