Algert Global LLC Purchases 103,527 Shares of Brixmor Property Group Inc. $BRX

Key Points

• Algert Global LLC increased its stake in Brixmor Property Group by 19.5%, acquiring an additional 103,527 shares, bringing its total holdings to 633,843 shares valued at approximately $16.83 million.
• Brixmor Property Group announced a quarterly dividend of $0.2875, which will provide a 4.3% yield based on an annual payout of $1.15.
• The company reported a net revenue increase of 7.5% year-over-year for the quarter, with earnings per share at $0.56, slightly above analysts' estimates of $0.55.

Algert Global LLC boosted its holdings in shares of Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 19.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 633,843 shares of the real estate investment trust's stock after purchasing an additional 103,527 shares during the period. Brixmor Property Group comprises approximately 0.4% of Algert Global LLC's holdings, making the stock its 11th largest holding. Algert Global LLC owned about 0.21% of Brixmor Property Group worth $16,829,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BRX. Northern Trust Corp increased its holdings in Brixmor Property Group by 96.2% during the 4th quarter. Northern Trust Corp now owns 4,870,342 shares of the real estate investment trust's stock valued at $135,590,000 after purchasing an additional 2,388,264 shares during the period. Deutsche Bank AG increased its holdings in Brixmor Property Group by 31.3% during the 4th quarter. Deutsche Bank AG now owns 5,882,828 shares of the real estate investment trust's stock valued at $163,778,000 after purchasing an additional 1,404,034 shares during the period. Jupiter Asset Management Ltd. purchased a new position in Brixmor Property Group during the 1st quarter valued at about $34,702,000. Clark Capital Management Group Inc. increased its holdings in Brixmor Property Group by 406.2% during the 4th quarter. Clark Capital Management Group Inc. now owns 1,516,041 shares of the real estate investment trust's stock valued at $42,207,000 after purchasing an additional 1,216,548 shares during the period. Finally, Nuveen LLC purchased a new position in Brixmor Property Group during the 1st quarter valued at about $28,401,000. Hedge funds and other institutional investors own 98.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Scotiabank reduced their target price on Brixmor Property Group from $30.00 to $29.00 and set a "sector outperform" rating on the stock in a report on Monday, May 12th. Mizuho upped their target price on Brixmor Property Group from $29.00 to $30.00 and gave the stock an "outperform" rating in a report on Wednesday. The Goldman Sachs Group reduced their target price on Brixmor Property Group from $33.00 to $29.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Stifel Nicolaus reduced their target price on Brixmor Property Group from $29.50 to $29.00 and set a "hold" rating on the stock in a report on Tuesday, July 29th. Finally, UBS Group assumed coverage on Brixmor Property Group in a report on Friday, May 30th. They set a "buy" rating and a $29.00 target price on the stock. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $30.17.

Brixmor Property Group Stock Down 0.2%

Shares of Brixmor Property Group stock traded down $0.0550 during midday trading on Thursday, hitting $26.9550. The company had a trading volume of 1,307,637 shares, compared to its average volume of 2,390,719. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market capitalization of $8.25 billion, a P/E ratio of 24.50, a P/E/G ratio of 2.56 and a beta of 1.29. The company has a 50 day moving average of $25.96 and a 200 day moving average of $25.90. Brixmor Property Group Inc. has a 52-week low of $22.28 and a 52-week high of $30.67.

Brixmor Property Group (NYSE:BRX - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $339.40 million for 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%.The firm's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 EPS. Brixmor Property Group has set its FY 2025 guidance at 2.220-2.250 EPS. On average, equities analysts predict that Brixmor Property Group Inc. will post 2.22 earnings per share for the current fiscal year.

Brixmor Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Thursday, October 2nd will be given a $0.2875 dividend. The ex-dividend date of this dividend is Thursday, October 2nd. This represents a $1.15 annualized dividend and a yield of 4.3%. Brixmor Property Group's dividend payout ratio is 104.55%.

Brixmor Property Group Company Profile

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.