Ameriprise Financial Inc. Acquires 1,537,737 Shares of Brixmor Property Group Inc. $BRX

Key Points

• Ameriprise Financial Inc. increased its stake in Brixmor Property Group by 28.2% in Q1, now owning over 6.99 million shares valued at $185.6 million.
• Brixmor recently reported earnings per share of $0.56, surpassing expectations and a revenue of $339.4 million, reflecting a year-over-year increase of 7.5%.
• The company has announced a quarterly dividend of $0.2875 per share with a yield of 4.1%, but has a high payout ratio of 104.55%.

Ameriprise Financial Inc. raised its holdings in Brixmor Property Group Inc. (NYSE:BRX - Free Report) by 28.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,991,336 shares of the real estate investment trust's stock after acquiring an additional 1,537,737 shares during the quarter. Ameriprise Financial Inc. owned about 2.28% of Brixmor Property Group worth $185,615,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in BRX. Transcend Capital Advisors LLC acquired a new stake in Brixmor Property Group in the 1st quarter valued at $356,000. Principal Financial Group Inc. boosted its holdings in shares of Brixmor Property Group by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 703,559 shares of the real estate investment trust's stock worth $18,679,000 after buying an additional 11,040 shares during the period. Fifth Third Bancorp raised its position in shares of Brixmor Property Group by 54.6% in the 1st quarter. Fifth Third Bancorp now owns 4,609 shares of the real estate investment trust's stock valued at $122,000 after buying an additional 1,628 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Brixmor Property Group by 9.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 9,622 shares of the real estate investment trust's stock valued at $255,000 after buying an additional 861 shares in the last quarter. Finally, Tower View Wealth Management LLC acquired a new position in Brixmor Property Group during the 1st quarter worth approximately $328,000. 98.43% of the stock is currently owned by institutional investors and hedge funds.

Brixmor Property Group Stock Up 3.4%

Shares of Brixmor Property Group stock opened at $27.8850 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.73. The company's fifty day simple moving average is $26.03 and its two-hundred day simple moving average is $25.92. The company has a market cap of $8.54 billion, a P/E ratio of 25.35, a PEG ratio of 2.64 and a beta of 1.29. Brixmor Property Group Inc. has a 12-month low of $22.28 and a 12-month high of $30.67.

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

Brixmor Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Thursday, October 2nd will be paid a dividend of $0.2875 per share. 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 dividend payout ratio is currently 104.55%.

Analyst Upgrades and Downgrades

BRX has been the subject of several recent research reports. The Goldman Sachs Group decreased their price target on shares of Brixmor Property Group from $33.00 to $29.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Scotiabank dropped their price objective on shares of Brixmor Property Group from $30.00 to $29.00 and set a "sector outperform" rating on the stock in a research note on Monday, May 12th. Mizuho increased their price objective on shares of Brixmor Property Group from $29.00 to $30.00 and gave the company an "outperform" rating in a research note on Wednesday. UBS Group started coverage on shares of Brixmor Property Group in a report on Friday, May 30th. They set a "buy" rating and a $29.00 price objective for the company. Finally, Stifel Nicolaus reduced their target price on shares of Brixmor Property Group from $29.50 to $29.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $30.17.

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.

Want to see what other hedge funds are holding BRX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brixmor Property Group Inc. (NYSE:BRX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.