ExodusPoint Capital Management LP Acquires 891,842 Shares of Brixmor Property Group Inc. (NYSE:BRX)

ExodusPoint Capital Management LP increased its holdings in shares of Brixmor Property Group Inc. (NYSE:BRX) by 252.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,244,720 shares of the real estate investment trust’s stock after purchasing an additional 891,842 shares during the period. ExodusPoint Capital Management LP’s holdings in Brixmor Property Group were worth $27,384,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of Brixmor Property Group in the first quarter valued at approximately $352,000. Principal Financial Group Inc. grew its position in Brixmor Property Group by 0.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,186,838 shares of the real estate investment trust’s stock worth $25,541,000 after purchasing an additional 10,601 shares during the last quarter. Pearl River Capital LLC acquired a new stake in Brixmor Property Group in the 1st quarter worth $1,032,000. Daiwa Securities Group Inc. lifted its stake in shares of Brixmor Property Group by 0.8% in the second quarter. Daiwa Securities Group Inc. now owns 92,302 shares of the real estate investment trust’s stock valued at $2,031,000 after buying an additional 767 shares during the period. Finally, Quarry LP lifted its stake in shares of Brixmor Property Group by 136.5% in the first quarter. Quarry LP now owns 35,502 shares of the real estate investment trust’s stock valued at $764,000 after buying an additional 20,493 shares during the period. Institutional investors own 94.98% of the company’s stock.

Brixmor Property Group Price Performance

Shares of BRX stock traded down $0.15 during trading hours on Monday, reaching $21.51. 329,851 shares of the company were exchanged, compared to its average volume of 2,302,896. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.55 and a quick ratio of 0.55. The stock’s fifty day moving average is $21.01 and its two-hundred day moving average is $21.41. Brixmor Property Group Inc. has a fifty-two week low of $19.40 and a fifty-two week high of $24.26. The company has a market cap of $6.47 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 1.75 and a beta of 1.60.

Brixmor Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Wednesday, January 3rd will be paid a $0.2725 dividend. This is a boost from Brixmor Property Group’s previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Tuesday, January 2nd. Brixmor Property Group’s dividend payout ratio (DPR) is 97.32%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BRX. Scotiabank raised Brixmor Property Group from a “sector perform” rating to a “sector outperform” rating and set a $25.00 price objective on the stock in a report on Tuesday, September 5th. The Goldman Sachs Group raised shares of Brixmor Property Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $23.00 to $27.00 in a research report on Wednesday, August 16th. StockNews.com began coverage on Brixmor Property Group in a report on Thursday, October 5th. They set a “hold” rating on the stock. Wells Fargo & Company dropped their price objective on Brixmor Property Group from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday, November 13th. Finally, Truist Financial reaffirmed a “buy” rating and set a $25.00 price objective on shares of Brixmor Property Group in a research note on Monday, August 21st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

Brixmor Property Group Profile

Brixmor (NYSE: BRX) is a real estate investment trust (REIT) that owns and operates a high-quality, national portfolio of open-air shopping centers. Its 365 retail centers comprise approximately 65 million square feet of prime retail space in established trade areas. The Company strives to own and operate shopping centers that reflect Brixmor's vision "to be the center of the communities we serve" and are home to a diverse mix of thriving national, regional and local retailers.