Brixmor Property Group Inc. (NYSE:BRX) Short Interest Update

Key Points

• Brixmor Property Group experienced a significant increase in short interest, with total short shares rising by 29.3% to 13,670,000 as of August 15th, leading to a days-to-cover ratio of 6.0 days.
• Insider Steven F. Siegel sold 25,000 shares of the company for $705,250, reducing his ownership by 7.63%, while corporate insiders currently own just 0.75% of the stock.
• The company announced a quarterly dividend of $0.2875 per share, payable on October 15th, resulting in a dividend yield of 4.1% despite a payout ratio exceeding 100%.

Brixmor Property Group Inc. (NYSE:BRX - Get Free Report) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totaling 13,670,000 shares, a growth of 29.3% from the July 31st total of 10,570,000 shares. Based on an average daily trading volume, of 2,280,000 shares, the days-to-cover ratio is presently 6.0 days. Based on an average daily trading volume, of 2,280,000 shares, the days-to-cover ratio is presently 6.0 days.

Insider Buying and Selling

In related news, insider Steven F. Siegel sold 25,000 shares of the company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $28.21, for a total value of $705,250.00. Following the sale, the insider directly owned 302,657 shares in the company, valued at $8,537,953.97. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.75% of the stock is owned by insiders.

Institutional Trading of Brixmor Property Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Securian Asset Management Inc. increased its stake in shares of Brixmor Property Group by 1.8% during the first quarter. Securian Asset Management Inc. now owns 23,235 shares of the real estate investment trust's stock valued at $617,000 after buying an additional 400 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Brixmor Property Group by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 86,100 shares of the real estate investment trust's stock valued at $2,242,000 after buying an additional 400 shares during the period. State of Michigan Retirement System increased its stake in shares of Brixmor Property Group by 0.5% during the second quarter. State of Michigan Retirement System now owns 73,607 shares of the real estate investment trust's stock valued at $1,917,000 after buying an additional 400 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Brixmor Property Group by 4.7% during the second quarter. Janney Montgomery Scott LLC now owns 10,073 shares of the real estate investment trust's stock valued at $262,000 after buying an additional 451 shares during the period. Finally, US Bancorp DE increased its stake in shares of Brixmor Property Group by 6.0% during the first quarter. US Bancorp DE now owns 8,548 shares of the real estate investment trust's stock valued at $227,000 after buying an additional 484 shares during the period. Institutional investors own 98.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. LADENBURG THALM/SH SH assumed coverage on Brixmor Property Group in a research report on Tuesday, September 9th. They issued a "buy" rating and a $32.00 price target for the company. UBS Group began coverage on Brixmor Property Group in a report on Friday, May 30th. They issued a "buy" rating and a $29.00 price objective for the company. Stifel Nicolaus decreased their price objective on Brixmor Property Group from $29.50 to $29.00 and set a "hold" rating for the company in a report on Tuesday, July 29th. Mizuho lifted their price objective on Brixmor Property Group from $29.00 to $30.00 and gave the stock an "outperform" rating in a report on Wednesday, August 20th. Finally, Wells Fargo & Company lifted their price objective on Brixmor Property Group from $26.00 to $28.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 27th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Brixmor Property Group has an average rating of "Moderate Buy" and an average target price of $30.58.

Brixmor Property Group Price Performance

NYSE:BRX traded down $0.07 during mid-day trading on Friday, reaching $28.02. The stock had a trading volume of 1,611,516 shares, compared to its average volume of 1,823,439. The firm has a 50 day moving average price of $26.64 and a two-hundred day moving average price of $25.99. The stock has a market capitalization of $8.58 billion, a P/E ratio of 25.48, a P/E/G ratio of 2.66 and a beta of 1.32. Brixmor Property Group has a one year low of $22.28 and a one year high of $30.67. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.74 and a current ratio of 0.74.

Brixmor Property Group (NYSE:BRX - Get Free Report) last released its earnings results on Monday, July 28th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. The company had revenue of $339.40 million during the quarter, compared to the consensus estimate of $332.59 million. Brixmor Property Group had a return on equity of 11.39% and a net margin of 25.27%.Brixmor Property Group's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. Brixmor Property Group has set its FY 2025 guidance at 2.220-2.250 EPS. As a group, analysts expect that Brixmor Property Group will post 2.22 earnings per share for the current year.

Brixmor Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be given a $0.2875 dividend. The ex-dividend date is Thursday, October 2nd. This represents a $1.15 annualized dividend and a yield of 4.1%. Brixmor Property Group's payout ratio is presently 104.55%.

About Brixmor Property Group

Brixmor Property Group, Inc operates as a real estate investment trust, which engages in owning and operating a portfolio of grocery anchored community and neighborhood shopping centers. The company was founded in 1985 and is headquartered in New York, NY.