Brixmor Property Group Inc. $BRX Stock: Sumitomo Mitsui Trust Group Inc. Boosts Position

Sumitomo Mitsui Trust Group Inc. raised its position in shares of Brixmor Property Group Inc. (NYSE:BRX) by 12.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 378,306 shares of the real estate investment trust’s stock after acquiring an additional 41,030 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Brixmor Property Group were worth $10,441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in Brixmor Property Group in the second quarter worth $1,265,950,000. Canada Pension Plan Investment Board purchased a new position in shares of Brixmor Property Group during the 2nd quarter valued at $180,406,000. Principal Financial Group Inc. lifted its position in shares of Brixmor Property Group by 686.1% during the 1st quarter. Principal Financial Group Inc. now owns 5,176,486 shares of the real estate investment trust’s stock valued at $149,083,000 after buying an additional 4,518,001 shares during the last quarter. Deutsche Bank AG bought a new position in shares of Brixmor Property Group during the 2nd quarter worth $122,922,000. Finally, Bank of America Corp DE bought a new position in shares of Brixmor Property Group during the 2nd quarter worth $90,382,000. 98.43% of the stock is owned by hedge funds and other institutional investors.

Brixmor Property Group Stock Performance

Shares of NYSE:BRX traded up $0.10 during trading on Friday, hitting $30.04. 4,369,909 shares of the company were exchanged, compared to its average volume of 2,979,601. The company has a market cap of $9.22 billion, a PE ratio of 21.93, a P/E/G ratio of 2.28 and a beta of 0.95. The stock has a 50 day moving average of $28.28 and a 200 day moving average of $29.61. Brixmor Property Group Inc. has a 52-week low of $24.66 and a 52-week high of $32.86. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.81 and a quick ratio of 0.81.

Brixmor Property Group (NYSE:BRX) last posted its quarterly earnings results on Monday, October 26th. The real estate investment trust reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.31). The company had revenue of $359.60 million during the quarter, compared to the consensus estimate of $357.28 million. Brixmor Property Group had a return on equity of 14.10% and a net margin of 29.96%. Brixmor Property Group’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 earnings per share. As a group, equities research analysts predict that Brixmor Property Group Inc. will post 2.37 EPS for the current year.

Brixmor Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, January 5th will be issued a dividend of $0.33 per share. This is a positive change from Brixmor Property Group’s previous quarterly dividend of $0.3075. The ex-dividend date of this dividend is Tuesday, January 5th. This represents a $1.32 dividend on an annualized basis and a yield of 4.4%. Brixmor Property Group’s payout ratio is currently 89.78%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BRX. Weiss Ratings reissued a “buy (b)” rating on shares of Brixmor Property Group in a report on Thursday, October 29th. Wells Fargo & Company upgraded shares of Brixmor Property Group to a “hold” rating in a research report on Thursday, July 23rd. Truist Financial started coverage on shares of Brixmor Property Group in a research report on Friday, October 2nd. They set a “buy” rating and a $31.00 target price for the company. Stifel Nicolaus reduced their target price on shares of Brixmor Property Group from $32.00 to $30.50 and set a “hold” rating for the company in a research note on Tuesday, October 27th. Finally, Citigroup lowered their price target on shares of Brixmor Property Group from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, November 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.95.

Brixmor Property Group Profile

Brixmor Property Group Inc (NYSE: BRX) is a real estate investment trust that owns and operates open-air shopping centers across the United States. Its portfolio is primarily focused on grocery-anchored community and neighborhood centers located in established, densely populated markets.

The company leases retail space to a diverse mix of tenants, including grocery stores, restaurants, service businesses, health and wellness providers, and other essential retailers. Brixmor also manages property operations and pursues redevelopment, re-tenanting, and leasing initiatives designed to enhance the functionality and long-term value of its shopping centers.

Brixmor became a publicly traded company in 2013 after being separated from an ownership structure associated with Blackstone.