UBS Asset Management Americas Inc. lifted its holdings in Brixmor Property Group Inc (NYSE:BRX) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,599,640 shares of the real estate investment trust’s stock after acquiring an additional 84,606 shares during the period. UBS Asset Management Americas Inc.’s holdings in Brixmor Property Group were worth $29,849,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Davis Selected Advisers bought a new position in shares of Brixmor Property Group in the third quarter worth about $2,874,000. Swiss National Bank boosted its stake in Brixmor Property Group by 1.0% during the third quarter. Swiss National Bank now owns 1,120,650 shares of the real estate investment trust’s stock valued at $21,068,000 after buying an additional 11,600 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Brixmor Property Group by 20.2% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 120,208 shares of the real estate investment trust’s stock valued at $2,260,000 after buying an additional 20,228 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Brixmor Property Group by 6.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,088,271 shares of the real estate investment trust’s stock valued at $20,459,000 after buying an additional 61,943 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Brixmor Property Group by 426.5% during the fourth quarter. Bank of Montreal Can now owns 1,044,544 shares of the real estate investment trust’s stock valued at $19,491,000 after buying an additional 846,132 shares during the last quarter.
Shares of Brixmor Property Group Inc (NYSE BRX) opened at $15.51 on Thursday. The stock has a market capitalization of $4,689.40, a P/E ratio of 7.33, a PEG ratio of 1.91 and a beta of 0.35. Brixmor Property Group Inc has a one year low of $13.74 and a one year high of $22.99. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.95.
Brixmor Property Group announced that its Board of Directors has authorized a stock 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 repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, April 5th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 7.09%. The ex-dividend date of this dividend is Wednesday, April 4th. Brixmor Property Group’s payout ratio is 112.24%.
In related news, EVP Mark Horgan acquired 4,500 shares of the stock in a transaction dated Wednesday, February 14th. The stock was acquired at an average cost of $14.94 per share, with a total value of $67,230.00. Following the purchase, the executive vice president now directly owns 62,769 shares of the company’s stock, valued at $937,768.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.27% of the stock is owned by company insiders.
A number of equities analysts recently commented on BRX shares. Mizuho reissued a “buy” rating and set a $19.50 price target on shares of Brixmor Property Group in a research note on Friday, November 10th. Boenning Scattergood lowered Brixmor Property Group from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 14th. Zacks Investment Research lowered Brixmor Property Group from a “hold” rating to a “sell” rating in a research note on Thursday, November 2nd. Mitsubishi UFJ Financial Group raised Brixmor Property Group from a “neutral” rating to an “overweight” rating in a research note on Wednesday, January 3rd. Finally, Citigroup raised Brixmor Property Group to an “overweight” rating and increased their price target for the company from $19.00 to $21.00 in a research note on Wednesday, January 3rd. They noted that the move was a valuation call. One equities 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. Brixmor Property Group has a consensus rating of “Hold” and a consensus price target of $18.50.
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Brixmor Property Group Profile
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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