Aew Capital Management Inc. Buys New Shares in Brixmor Property Group Inc. $BRX

Key Points

• Aew Capital Management acquired 2.35 million Brixmor shares in the third quarter, worth about $64.8 million and representing 0.76% of the REIT.
• Brixmor’s quarterly EPS of $0.28 fell short of the $0.59 consensus, although revenue rose 5.5% year over year to $359.6 million. The company raised its quarterly dividend to $0.33, a 4.4% indicated yield.
• Analysts give the stock a “Moderate Buy” consensus rating, with an average price target of $33.14.

Aew Capital Management Inc. acquired a new position in shares of Brixmor Property Group Inc. (NYSE:BRX - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,347,336 shares of the real estate investment trust's stock, valued at approximately $64,786,000. Brixmor Property Group makes up 4.3% of Aew Capital Management Inc.'s investment portfolio, making the stock its 10th biggest holding. Aew Capital Management Inc. owned approximately 0.76% of Brixmor Property Group as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in Brixmor Property Group in the second quarter valued at about $2,841,000. Quantinno Capital Management LP grew its position in Brixmor Property Group by 9.5% in the 1st quarter. Quantinno Capital Management LP now owns 526,680 shares of the real estate investment trust's stock valued at $15,168,000 after buying an additional 45,809 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Brixmor Property Group by 12.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 378,306 shares of the real estate investment trust's stock valued at $10,441,000 after buying an additional 41,030 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Brixmor Property Group by 686.1% during the first 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 purchasing an additional 4,518,001 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in Brixmor Property Group in the 2nd quarter valued at approximately $122,922,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Brixmor Property Group Price Performance

Shares of NYSE BRX opened at $30.25 on Thursday. Brixmor Property Group Inc. has a 1-year low of $24.66 and a 1-year high of $32.86. The firm has a market capitalization of $9.28 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.06 and a beta of 0.95. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.76. The firm's 50-day moving average price is $28.35 and its 200-day moving average price is $29.67.

Brixmor Property Group (NYSE:BRX - Get Free Report) last issued its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $0.28 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.31). The company had revenue of $359.60 million during the quarter, compared to analysts' expectations of $357.28 million. Brixmor Property Group had a return on equity of 14.10% and a net margin of 29.96%. The business's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. Equities research analysts anticipate that Brixmor Property Group Inc. will post 2.37 earnings per share for the current fiscal year.

Brixmor Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, January 5th will be paid a $0.33 dividend. This is a boost from Brixmor Property Group's previous quarterly dividend of $0.3075. This represents a $1.32 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Tuesday, January 5th. Brixmor Property Group's payout ratio is presently 89.78%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Brixmor Property Group from $40.00 to $36.00 and set an "overweight" rating for the company in a research note on Monday, October 12th. Wells Fargo & Company raised Brixmor Property Group to a "hold" rating in a research note on Thursday, July 23rd. Citigroup decreased their price objective on Brixmor Property Group from $34.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, November 2nd. Stifel Nicolaus lowered their target price on shares of Brixmor Property Group from $32.00 to $30.50 and set a "hold" rating on the stock in a report on Tuesday, October 27th. Finally, Truist Financial assumed coverage on shares of Brixmor Property Group in a research report on Friday, October 2nd. They set a "buy" rating and a $31.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $33.14.

About Brixmor Property Group

Brixmor Property Group is a real estate investment trust (REIT) that owns, operates and redevelops open-air shopping centers across the United States. Its properties are primarily neighborhood and community centers anchored by grocery stores and serve local shopping and service needs. The company works with tenants and local communities to maintain and enhance its centers, which include retailers, restaurants and service providers. Brixmor was formed in 2011 and became a publicly traded company in 2013.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.