Axa lifted its holdings in shares of Brixmor Property Group Inc (NYSE:BRX) by 34.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 444,854 shares of the real estate investment trust’s stock after acquiring an additional 113,370 shares during the period. Axa’s holdings in Brixmor Property Group were worth $8,301,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Landscape Capital Management L.L.C. lifted its position in Brixmor Property Group by 1,164.6% in the fourth quarter. Landscape Capital Management L.L.C. now owns 283,900 shares of the real estate investment trust’s stock worth $5,298,000 after purchasing an additional 261,451 shares during the period. Geode Capital Management LLC lifted its position in Brixmor Property Group by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,002,681 shares of the real estate investment trust’s stock worth $74,656,000 after purchasing an additional 34,765 shares during the period. Allianz Asset Management GmbH lifted its position in Brixmor Property Group by 157.0% in the fourth quarter. Allianz Asset Management GmbH now owns 724,231 shares of the real estate investment trust’s stock worth $13,514,000 after purchasing an additional 442,412 shares during the period. Amalgamated Bank lifted its position in Brixmor Property Group by 6.3% in the fourth quarter. Amalgamated Bank now owns 58,608 shares of the real estate investment trust’s stock worth $1,094,000 after purchasing an additional 3,474 shares during the period. Finally, Cbre Clarion Securities LLC lifted its position in Brixmor Property Group by 11.8% in the fourth quarter. Cbre Clarion Securities LLC now owns 7,880,121 shares of the real estate investment trust’s stock worth $147,043,000 after purchasing an additional 831,018 shares during the period. Institutional investors and hedge funds own 99.72% of the company’s stock.
Brixmor Property Group Inc (BRX) opened at $15.54 on Wednesday. The stock has a market capitalization of $4,780.00, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.94 and a beta of 0.38. Brixmor Property Group Inc has a twelve month low of $13.74 and a twelve month high of $22.19. The company has a debt-to-equity ratio of 1.95, a current ratio of 0.65 and a quick ratio of 0.65.
Brixmor Property Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 5th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, April 5th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a $1.10 annualized dividend and a dividend yield of 7.08%. Brixmor Property Group’s dividend payout ratio is currently 112.24%.
In related news, EVP Mark Horgan purchased 4,500 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were bought at an average price of $14.94 per share, with a total value of $67,230.00. Following the completion of the acquisition, the executive vice president now owns 62,769 shares of the company’s stock, valued at $937,768.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James M. Taylor, Jr. purchased 7,500 shares of the company’s stock in a transaction on Tuesday, March 13th. The stock was bought at an average cost of $15.55 per share, for a total transaction of $116,625.00. Following the acquisition, the chief executive officer now directly owns 216,884 shares of the company’s stock, valued at approximately $3,372,546.20. The disclosure for this purchase can be found here. Insiders acquired 12,750 shares of company stock worth $195,495 in the last ninety days. 0.27% of the stock is owned by corporate insiders.
A number of equities research analysts have weighed in on the company. SunTrust Banks set a $19.00 target price on Brixmor Property Group and gave the stock a “buy” rating in a research report on Monday, January 22nd. ValuEngine downgraded Brixmor Property Group from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Stifel Nicolaus cut their target price on Brixmor Property Group from $19.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, February 13th. Boenning Scattergood restated a “hold” rating on shares of Brixmor Property Group in a research report on Wednesday, February 14th. Finally, Sandler O’Neill set a $18.00 target price on Brixmor Property Group and gave the stock a “buy” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $18.40.
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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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